The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-25
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News Mining Stocks
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Rsview OF Trade.

New York, June 2i.-The bear operators
somewhat discouraged over the events of
to-day's short session and engaged in
something like a scramble to cover out
standing short contracts in the closing
dealings The bank statement. while it
cannot be called a favorable one, was not
as weak as had been foretold, and when
the bears started to cover shorts. after it's
publication, found it had brought slight
offerings to sell. Prices were marked up
quite suddenly, in some cases to the
highest point of the day, making the clos
ing quite buoyant in tone.
The further liberal expansion of more
than S. 900, 900 in loans indicated the faith
of banking authorities in the money out
lock. Who are the borrowers of this
large amount of money is as much a
mystery as was the increase last week
II has certainly not gone into the stock
market during the week. One supposition
is that the gold which has been going
abroad goes in the form of actual loans
to foreign institutions. This would help
to explain the mysterious action of the
exchange market in the face of the gold
shipments, which has failed to reflect any
yielding under offerings of bills against
the shipments.
The strength in to-days stock market
centered in the Vanderbilt group, New
York Central, Northwestern and st. Paul
q Omaha rising from 2M to points. The
arrival in this country of Cornelius Van
derbilt and the strong statement of New
York Central for the fiscal year were
the presumptive grounds for the strength
in this group.
There was weakness at one time in
Steel & Wire, Sugar and Tennessee Coal.
Steel & Wire did not rally strong but
other stocks were practically without ex-
ception higher at the close and at nota-
Bile net gains.
The bond market was quiet and yielded
at some points.
The bears have been energetic and ag-
gressive during the week and have had
moderate success in driving prices to a
lower level. But their success has been
almost entirely confined to the individual
, stocks which they singled out for special
attack. The general market has shown
itself colby unresponsive and there has
been nothing like general break in prices
at any time.
Buying demand for stocks to be sure,
showed signs of coming to a complete
standstill, but there was such a small sup
ply offering for sale a the same time that
prices of many stocks offered a firm re-
sistance to any decline. The moneyed class
persisted in its waiting attitude. 1t is a
commentary upon the public feeling to-
ward new industrial Rotations that the
most vulnerable point of attack has been
in the steel stocks, in spite of the fact
that enormous profits are being realized
in the production and manufacture of all
grades of this material .,s .-
The uneasness in the London and Paris
stock markets on the Transvaal situation,
the cabinet crisis in France and the money
stringency in Berlin, Vienna, Frankfort
and Amsterdam. on account of large spec
uiative commitments in the Berlin market,
have been more or less reflected here and
have added to the fear of a drain of gold,
which might ultimately affect our money
markets On the other hand, the inn
proved crop outlook, the good earnings by
railroads, the continued ease of money.
the general business prosperity and the
return from Europe of several financiers
of influence and authority have served as
sustaining factors. and even to advance
prices in a number of railroads.
The volume of business in bonds has
decreased somewhat. but prices in the
main were pretty we'll sustained.
U. S. new As declined 1 point, the new
SO "a, the SIS and the old As registered II
and the coupons u per cent, in the bid