The Anaconda standard., 1899-06-08
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-Review of Trade.

New York, June IA midsummer lassi-
tude hung over the stock market through
out the greater part of the day and the
trading drifted aimlessly. Wall street will
take advantage of holiday to curtail its
abors when there Is some doubt about the
outlook which composes what is called a
waiting market. But, though the weather
does not deter the ever-Watchful eye OF
capital from availing itself Of offered op-
portunties. the burst of animation in the
last hour of to-days stock market indi-
Gated that Wall street was not so dead az
all the earlier appearances
Speculation was almost at a standstill
during the morning session, even the pro-
fessonal traders waiting for action on
the Sugar dividend, anu also on that of
Atchison preferred. The aimless drifting
of Sugar prior to the announcement of
dividends and the smallness of the trans
actions seemed to indicate that the spec
ulative community was wholly at sea as
to what the action of the directors would
be The price dropped below last night S
close afterA the opening advance, but re-
covered sharply some points before the
news became known. The announcement
of the regular dividend caused realizing
sales and drop Of points. The shorts
were SO eager to cover that the declne
was checked almost Immediately and a
oQbStluSll lSSoNSiy " dpoul u
points. The drop after the dividend an
nouncement seemed to give the shorts
some degree of confidence and the pres
sure to buy was not urgent at the ad-
vance.
Considering the length of the bear cam
paign based on an implied doubt of the
regular dividend, it can scarcely be that
the short interest has succeeded in any
where covering the lines put out during
hC ion Iap1or rut n
regular dividend has by no means con-
verted all of the bears, who still argue
dire effects from the trade war. The dec
,laration of IL per cent. on Atchison pre-
ferred was the most potent influence in
putting up prices in the latter part of the
day, though the effect must be regarded
as surprisingly small, considering the re-
cent activity of the bears on the doubts
expressed that dividend would be forth
coming on this stock.
The dividend is called regular semi-an-
nual and comes out of the last fiscal year.
with the statement by the directors that
sufficient remains for another similar div
idend in January next.
There was a large demand for the
grangers, which advanced prices in the
group from l to 3k points, which spread
to other points in the railroad list Fort
Worth and Rio Grande were marked up
points and the New York municipal
stocks rose sharply.
Stocks which have been recent favor
ties in London, such as Anaconda and
the Southern railway stocks, held back
until influence from London was felt.
The iron and steel stocks also held back
Steel & Wire dropping at one time points
on published doubts of Forthcoming
dividend. The obstinate resistance of rail.
road stocks to the decline in the price and
prospective easy conditions in money anG
the more cheerful view of the crop pros.
poets all contributed to the latest strength
in the stock market.
Railroad bonds hardened in price in
sympathy with stocks, but business was
not on a large scale. Total sales, 81, ,1OO,-
00G
U. S. SIS declined u per cent. in the bid
price.