The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-16
GAINS SWEPT AWAY
Stock Market Closes With
Net Losses the Rule.
TRADE BALANCE FIGURES
VIII be Next to Those of '98
The Gold Puzzle.
TRADE BALANCE FIGURES

New York, June 1.-THE public continued
to hold aloof from the stock market and
dealings today were almost wholly profes-
sional. There was the semblance OF
strength at one time, due TO sympathy
with the activity in a small group OF
specialtiez, which were bought by large
interests more or less identified with
them. Prices of the group were advanced
and the traders bought the general list,
causing small advances all around. But
the rise failed absolutely TO invite any
outside buying, and the supporting tactics
We're abandoned during the course OF the
day. The listless conditions that ensued
was such as to invite bear aggression. But
the bear party apparently suffered from
the as0nable lassitude as much as the
general public. and their operations were
not pursued with any vigor If determine
ton. However. the gains at one time
established were practically all wiped out
before the close and net losses are the
rule, most Of them being restricted 10
fractions. Sugar ruled above yesterdays
level. rising at one time nearly points,
but closing with net gain OF only Is.
The Federal Steel sticks. Brooklyn Tran
Sit, Peoples Gas, Manhattan and Consol-
idated Gas also enjoyed their period OF
strength. There was an early break in the
Denver and Rio Grande stocks, and Col
orado Fuel weakened late in the day, on
account of the labor troubles over the new
eight-hour law in Colorado. American
Smelling stiffened . points on few iso-
lated transactions, the officials Of the COM
pauy protesting to feel no uneasiness over
the strike and alleging that it came at a
good time. American Car showed losses of
and points. respectively. for the Gin
| mon and preferred stocks and Pittsburg.
Cincinnati. Chicago and st. Louis moved
points over yesterdays level. The be
lief that the outward gold movement is
not yet concluded, added to the disincli-
nation to buy stocks. The preliminary
trade statement of the treasury depart
ment for the day discloses that the total
| exports for the fiscal year for the first time
! fell below those of last year at the end
| of May, TO the extent of over 5000 600.
But the exports in June of last year show
| ed a heavy decrease from those Of May,
| 50 that the June exports for this year.
| which are running much nearer TO last
| years level. may bring the total exports
! for the fiscal year up to last years I'M
! precedented figures. The continued high
| level of imports compared with those OF
last year will cause a marked diminution
| in the countrys favorable trade balance
| for the fiscal year. But it is now evident
that the trade balance Will be between
twenty and thirty millions over half bill
lion dollars. which exceeds the record OF
any previous year, except 1898. Wall street
is still puzzled TO decide whether this enor.
nous credit balance has been all liquidated
! by the buying OF our own securities from
| foreign holders and the mystery surround
ing the gold movement has added TO the
puzzle.
The total sale Of stocks today amounted
| to 3S6. 902 shares, including: American
Steel. 1890; American Sugar, 1890; Ana
| conda. 300; Atchison preferred. 1890
Brooklyn Transit AZ 500: Burlington. 400
! Consolidated Gas. 400: Federal Steel. So
10; Federal Steel preferred. $500; Denver
| and Rio Grande preferred. 500; Manhat-
| tan. Is 2no: Metropolitan Street Railway
$500; Missouri Pacific, 800; New York
| Central 3a0: Northern Pacific. 400; Pee
! pies Gas. HOO; Reading first preferred
$50: Rock Island. 1850: S.. Paul. 1870
Tennessee Coal and Iron, 300; United
States Rubber, $50; Wisconsin Contra
| preferred, 400.
Tho Iaad+nz stocks cIosad ae forlou--.