The times. [volume] (Richmond, Va.) 1890-1903, 1899-06-11
MANY ORDERS
TO BUY STOCKS
Followed the Notable Rise in Prices
in Yesterdays Market.
PRICES SAGGED EARLY IN DAY
But Later Hardened and Recovered
Most of the Declines Bonds are
More Active and Prices are
Much Better.
PRICES SAGGED EARLY IN DAY

NEW YORK. June 10.-Ycsterday's nOta-
bic rise IN stocks brought the expected
result in large orders TO commission
houses by wire and mail To- buy stocks.
These were put in az the opening ana cX-
eeuted az the hgh prices 10 which values
were marked. The professional operators
who have been buying stocks in the last
Few days met this demand with sales 10
realize. After this trading had been con-
cludcd II looked az though the large ope-
ratOrs who have started tO buy stocks iu
abe last few days were indisposed 20 pur-
sue their activities, and the market began
20 sag on light transactions The low
point was reached just before The publ
cation OF the bank statement. when prices
IN many eases were below iasl hlFhl
level American steel and Wire. sugar.
Atchison preferred. ST. Louis and south
western proferrel. Brooklyn TRANSIT ana
Manhattan were the scNcrest sufferers
from the reaction. The experts had
figured that the bank statement Wou'd
show "a decrease OF S1.Oo0OCo in cash mold
ings although ~ was known that only
o. 800 OOp Of the weeks gold SHIPMENTS
would figure in the statement. The losses
OF the banks TO the sub-TreasurN We're
expected TO be- heavy. Instead OF this
there was "a decrease In cash of less than
q million and n half. and the liberal ok
pansion I'm loans OF over Nl1NNtW was
evidence OF the caSv feeling OF bankers
over the outlook for money. Prices OF
stocks hardened as consequence and
recovered most Of tine earlier decline.
Sugar touched the top price for the day.
and Consolidated Gas rose about Jia
points Pennsylvania was consistently
stronger throughout on the selection Of
the new president. and St PAU enjoyed
the benefit Of fits Increase or Sl'te' IN
rTOss earnings FOR the pNEt week in June.
The bull lenders arc undOuh edly counting
on the favorable effect 20 be produced
by coming reports of Tailroad earnings
which for the next few weeks VIII COM
rare with comnare with the period last
nh i ri W 49, at HInI reached
its collapse. tho price of wheat suddenly
dropped and the movement OF grain ana,
consequently. the earnings OF rallroads
had the only notable setback or the year.
The hull movement sought TO be inau-
gurated Yesterday In American steer ana
Wire proved abortive, and the stock lalled
10 rally from its weakness to-day. sugar
was comparatively quiet, resisted an at
tempts 10 force ia down The selling for
London account because OF the IransVdal
crisis was ignored.
In the bond market there has been some
increase Of activity I'm the latter part OF
the week and improvement in prices.
United states rs advanced a. the old BIS
registered a. DO. coupon y, ana me new
as and the IS y in the bid price, the 5s
The total sales Of stocks to-day were
3ll 700 shares including AtchisOn pre-
ferred . 100: Burlington. 1900, Reading
first $500: Manhattan' l3'SI.i 81 a., fa ill,
l6. go. American steel and Wire -
Federal Steel, EGTl. People Gas, 1000,
Brooklyn Transit. 2O4SO: Continental To-
bacco, G.27O: Sugar $3.50
MONEY AND FXCHANGE--Money on
call steady at 202le per cent last loan az
2rer cent. prime mercantile paper, 2a-i2
per cent Sterling exchange STEADY. WIN
actual business In bankers blls % Sfet.s
04S7Jk for demand and at SLSJt 1878
Tor sixty days, posted rates SlSb'244.oi
and $50: commercial bills, S4.s3'f. ail-
yer certificates C0i4N62. bar silver ou's,
Mexican dollars. 4Sih. State bonds mac
tive: railroad bonds Irregular Govern
snent bonds firm.
PANyrC fcTATTNfENT-The weekly bank
statement shows the following changes.
Sur as reserve decreased ..'-... > '3N.i. ,p
Loans increased ........... ... 10 SO tN'
Specie decreased .........'.'-. lo5i'9'y
Legal tenders Increased ...-.... 5000
Deposits increased .-.......--... $1,000
Circulation decreased .......... @0lOl
The hanks now hold S39.3zsi 100 In excess
of LEGAL requirements.