Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-15
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange. Bonds, Grain,
Cotton, Provisions, Etc.

New York, June 1.-THE profession
al board room traders, whose effort 1t
Is to keep in the current OF events for
q short turn in prices, were kept in a
very unsettled frame of mind to-day
by the frequent ebb and flow OF prices
and they were left in q state OF con-
fusion at the close under the puzzling
conflict of currents in the stock mark
ct. Some rather large interests evil
IDENTIFY took their profits on the recent
rise yesterday, and, having done SO,
were ready to avow the fact this morn
ing. This brought considerable fol-
lowing from outside sources, and the
commission houses were sellers of the
general list. But the bears who sold
stocks freely in the late furry yester-
day were buyers at the decline for the
purpose of covering their short con-
tracts, so that the belated liquidation
was pretty we'll absorbed. In fact the
covering by the shorts and large buy
ing of some of the high priced special
ties carried prices generally after the
opening above last nights level. But
weak spots began to develop. notably
in Sugar, Metropolitan and the Smelt-
Ing stocks, the latter on the prospect
of labor troubles and a general SELL
Ing movement set in. Steel and Wire,
Anaconda, Continental Tobacco, =. c..
c and st. Louis. Baltimore and Ohio,
Colorado Southern first preferred, Pa
per and the Steel stocks which were
advanced yesterday were all special
points of weakness at different times
during the day. On the other hand the
Flower specialties. especially Brooklyn
Transit and Federal Steel. were well
sustained and showed a disposition to
advance. Sugar also, after dropping off
i,,t-
gressive upward tendency and rose an
extreme six points. Manhattan was
another centre of strength. This de-
TERED the bears from making new
ventures on the short side although
the early advances were not we'll main
tained. The market was in fact
waiting one in the exact sense of the
word, and fell into extreme dullness
late in the day. The quick rally of Az
points In Metropolitan Street Railway,
after dropping SI2, and of 81 in Sugar,
Htted the level of prices from the low
plane to which they had been dragged
during the afternoon and made the
close comparatively firm. Only a few
stocks showed net gains fractional net
losses being the rule. The expected
dividend declaration on Northern Pa
cific common, which was announced
shortly after o'clock, gave that stock
some strength. Otherwise the grain
carrying roads were inclined to heavi-
ness on talk of harm done by the rains.
Denver preferred and the Southwest
ems generally were conspicuously
weak. The banks were rather more en-
acting in granting loans on call during
the day, and this led to more attention
being given to the outlook in the
money market. The conditions are
much easier in London, where the eff
rect on the stock market was beneficial,
and this lessons the prospect of fur
ther immediate outflow of gold
There was n reactionary tendency
manifest at some points in the bond
market and the volume OF business
done was only moderate. Total sales
par value. S2,545. 900.
Government bonds were unchanged
The total sales of stocks were ISL 500
shares.
New York. June 14.-Standard Oil,
~'ooV 1-oO.