The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-14
Day of Shifting On the New York
Stock Exchange.
EFFORT To STAY MARKET
THERE WAS A NET LOSS IN
RAILROADS AND SUGAR.
Prospect of Poor Bank Statement On
Coming Saturday Has Its Inhu
ence In Prompting Liquidation
No Effect, However, On the Money
Market, Which Continues Easy.

New York June 13-There was a
marked disposition from an early period
in the days trading to take profits in
many of the stocks which have enjoyed a
large advance recently. This was evident
practically in all of the standard stocks
and as increasingly obvious in the indus
trials The strength manifested by u
small group of the industrials served to
STAY the market Tor a time and acted as
sort OF cover TO the profit-taking sales
which were led on the market The re-
cent strength of Federal Steel showed
abatement during the early hours OF the
DAY, ana other members of the Flower
group. notably Brooklyn Transit and
People Gas, were strong in sympathy.
and the advance in Metropolitan Man
haitian and Sugar helped 10 keep w.
prices The leadership of these stocks
gave place in the course Of the morning
10 National Steel. American Hoop, Amer
lean Smelling and lin Plate, the FIRST
named rising some points. The awaken
ing OF activity IN this group which was
more prominent in trading than any time
since they have been dealt in on the
local exchange, seemed TO invite realizing
elsewhere In the list. and an early break
in Consolidated Gas, followed by pro-
nounced weakness in Sugar. emphasized
this tendency. There was late rally IN
Consolidated Gas. and Pressed Steel Ca-
was suddenly marked up to 90 an advance
OF over points. But no effect was ap-
parent on the general list, which closed
active and weak at the lowest point gen
railroads are for the most part between
! ana points. Sugar, which was traded
IN extra dividend Of ) per cent, lost nearly
points on the day.
There is an element among the profess
sional operators which habitually buys
Sugar to realize the dividend and get rid
OF the holdings Immediately after the
dividend periCds. The selling from this
source was an influential element in the
weakness of mat stock and. by sympathy.
of the whole market. Manhattan suffered
m no aal a rat ion nf n.l
regular dividend and on the continued
effect of the adverse judicial decision on
tax claims against the company. The
strength OF the steel stocks which came
TO the front today was coincident to tn
lively demand from the National Steel
COMPANY PittSDUrg, Chicago. Cleveland
< St Louis continued strong, bat this
was the only exception 10 the weakness
IL the railroad list.
II is probable that the prospects of a
poor bank statement on the coming Sat
urday, when a large part of the with
drawals of gold already made for export
viii figure had its influence in prompting
tDdays liquidation. No effect was appar-
EN-. however, IN the money market, Whlch
continued easy. and there was no upward
tendency in sterling exchange. while there
was sharp fan in the money and dis
count rates in London. The pressure Of
liquidation was not heavy at any time
but prices went down easily and there
was no evidence of organized support
The bears helped the late break with
There was a large demand and some
strength for Reading Is. Colorado South
ern Is and the Wisconsin Central issues.
both old and new. Total sales. par value
$3.50. 600 United States Is declined Il. and
the IS. new Is and the 5s Is in the bid
price.
The total sales of stocks today were
5S0. 49, shares. including American Smelt-
ing. 800: American Smelling preferred,
$500 American Steel & Wire. 81. 700; Amer
lean Sugar. 76. 700: American Tin Plate,
4 Anaconda ATHl1GOn
1850; Brooklyn Transit. 5l.000; Chicago,
Burlington & Quincy 1850: Chicago
Great Western. 400; Chicago. Milwaukee
& St Paul 81 700: Rock Island. 3 500; Con-
solidated Gas. 500: Continental Tobacco,
10 .2l0: Denver & Rio Grande. 5000; Denver
& Rio Grande preferred 400; Des Moines
& Fort Dodge coca: Federal Steel 1890:
Federal Steel preferred. 1900; Manhattan,
40 800: Metropolitan Street Railway, 1880;
Missouri Pacific. 500; National Steel
90 North American. 4.50e: Peoples Gas
& Coke company. COCO: Union Pacific.
200: Tennessee Coal & Iron. S 800; United
States Rubber. 400.