The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-06-16
PUBLIC HELD ALOOF
FROM STOCK MARKET
The Dealings Were Almost
Wholly Professional.
BEARS AGGRESSION INVITED
Railroad Bonds Continued to Show
Sympathy With Many Declines in
Days Business-Total Sales
Par Value $2,67e.ooo
BEARS AGGRESSION INVITED

New York, June 15.-The public continues
to hold aloof from the stock market and
dealings today were almost wholly profess
ional There was the semblance of strength
at one time, due to sympathy with the
activity in a small group of specialties
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 ad-
vances all around. But the rise failed abb
solutely to invite any outside buying and
the supporting tactics were abandoned dur
ing the course of the day.
The listless condition that ensued was
such as to invite bear aggression. But the
bear party apparently refrained from def
mite action and their operations were not
pursued with any vigor or determination.
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 to fractions.
Sugar ruled above yesterdays level, rising
at one time nearly points, but closing with
a net gain of only Use. The Federal Steel
stocks, Brooklyn Rapid Transit Peoples
Gas, Manhattan and Consolidated Gas en-
joyed their period of strength.
There was an early break in the D. &
R. stocks and Colorado Fuel weakened late
in the day on account of the labor trout
bles over the new eight-hour law in Col
orado American Smelling stiffened two
point on a few isolated transactions, the
officials of the company processing to feel
no measiness over the strike and alleging
that it came at a good time
American Car showed losses of and q
points respectfully for the common and
preferred stocks and P. c. C. &c ST. l..
moved in an erratic manner points over
yesterdays leYel The belief that the out
ward gold movement is not yet concluded
added 10 the Discrimination to buy stocks.
The preliminary trade statement of the
treasury department for May 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 something
over 5000, 900. But the exports in June of
last year showed a heavy decrease from
those of May 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 to last year,
unprecedented figure The continued high
leyel. of imports compared with those of
last year will cause a marked diminution
in the country'S favor in trade balance for
tie lSCdi year but 1t IS now evident Lnat
the trade balance will be between twenty
and thirty millions over half billion dol
lars which is far above 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.
Railroad bonds continue to show sympa-
thy with heavy tendency in stocks, many
ness.
Total sales par value $2,769,0 900.
United States old tours coupon advanced
quarter in the bid price.
Total sales of stocks today. 3S6. 902 shares,
including: American Steel, Il 800; American
Sugar 1890; Atchson pfd., $780, Brooklyn
Rapid Transit, 1890; Burlington, 1900;
Federal Steel, 36700; Federal Steel pfd,
1900; Manhattan L. 1920; Missouri Pa
cific, 5,70O Peoples Gas. II 700; Rock Is
land, 4,SOO ST. Paul, AGO; Tennessee Coal
and Iron, 800; United States Rubber,
5000.
Money on call at 293 per cent; last loan.
~ per cent.
Prime mercantile paper. 3AG4 per cent
Sterling exchange, steady, with actual
business in bankers bills, at $4S734 Ass for
demand and $4.S5&64.S6 for sixty days.
Posted rates. $4S6h64S7 and $4.S9.
Commercial bills, $4.S5A.
Silver certificates, 601g660c; bar silver,
G02sc; Mexican dollars 4S1kc.
Government bonds, firm; state bonds IN
active; railroad bonds, irregular.
STOCKS