The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-06-14
PROFIT TAKING IN
STOCK MARKET
Marked Disposition Evidenced in
This Line.
STEEL DISPLAYED STRENGTH
An Element Among Professionals in Su-
gar Want to Get Rid of Their
Holdings When Dividend
Period Comes.
STEEL DISPLAYED STRENGTH

New York, June 13-There was a marked
disposition for an early period in the days
trading to take profits in many of the
stocks which have enjoyed large advance
recently. This was evident practically in
all of the standard stocks and made itself
obvious in the Industrial specialties.
The very decided strength manifested by
a group of the industrals served to stay
the market for time and acted as a sort
of cover to the profit taking sales which
were fed to the market. The recent
strength of federal steel showed no abate-
ment during the early hours of the day,
and other members of the slower group
notably Brooklyn Transit and Peoples Gas,
were strong in sympathy; an advance in
Metropolitan, Manhattan and Sugar help
ed to hold up prices. The leadership of
these stocks gave place in the course of the
morning to National Steel, American HOOP
American Smelling and Tin Plate, the first
named rising some five points.
The awakening activity in this group,
which was more prominent in trading than
at any time since they have been dealt in
on the local exchange seemed to invite
realizing elsewhere in the list and an ear
~ break in Consolidate Gas, followed by
pronounced weakness in Sugar emphasized
this tendancy. There was a late rally in
Consolidated gas and Pressed Steel Car
war suddenly marked up to So, an advance
of over four points. But no effect was
apparent on the general list, which closed
active and weak at the lowest point gem
orally today. Net losses in the standard
railroads are for the most part small.
There is an element among the profess
sional operators which habitually buy Su-
fn liza no Jixr;da ia q
the holdings when dividend periods come
Selling from this source was an influential
clement In the weakness of that stock and
by sympathy of the whole market. Man
haitian suffered from realizing on the dec
iaration of the regular dividend and in the
continued effect Of the adverse judicial de-
clslons on tax claims against the company.
The strength of the Steel stocks which
came to the front today, was coincident
with the lively demand for National Steel
in Chicago.
Pittsburg, Cincinnati, Chicago and st.
Louis continued strong, but this was prac-
tlcally the only exception to the weakness
in the railroad list. 1t is probable that the
prospects of a poor bank statement on the
coming Saturday, when a large part of the
Withdrawals of gold already made for ex-
port Will figure, had it's influence in prompt
ing todays liquidation. No effect was ap-
parent however, in the money market
upward tendency in sterling exchange,
while there was a sharp fall in the money
and discount rates in London.
The pressure of liquidation was not heavy
at any time, but prices went down easily
and there was no evidence of good support
The bears helped the late break with ru-
mors of reverses in the Philippines. There
was large demand and some strength for
Reading As, Colorado and Southern and
Wisconsin Central issues, both of old and
new.
Total sales, par value S, 100000
United States rs declined 4, and the d
new As and SIS Is in the bid price.
Total sales Of stocks today, $50, 4S7
shares, including American Smelling, S,7OO
do preferred $500; American Steel and
Wire, $1,000; American Sugar, &c, 700; Amer
lean Tin Plate, AGO; Anaconda. 42OO:
Atchison preferred, 1880; Brooklyn Rapid
Transit, $1,000; Chicago, Burlington and
Quincy, 5000; Chicago Great Western g.
400; Chicago, Minneapolis and st. Paul,
81 100; Rock Island, $500; Consolidated
Gas, $500; Continental Tobacco, 1O,2OO
Denver and Rio Grande, 5000; Des Moines
and Fort Dodson, 5000; Federal Steel, 49,
800; Federal Steel preferred 1900; Man.
haitian, 40 200; Metropolitan Street Railway,
119O0; Missouri Pacific, $500; National
Steel, $500; Ontario and Western 4,9o;
Pennsylvania, 64OO; Big Four, $780, Read
ing first preferred, $500; Tennessee Coal
and Iron $780, Union Pacific, $500; United
preferred, 2400
Money on call, steady, at 1903 per cent.
last loan, IL per cent.
Prime mercantile paper, 3A@4 per cent
Sterling exchange, steady, with actual
business in bankers bills at %S7A 4.SS
for demand and at $4.S5%Q$4.S6 for sixty
days
Posted rates $4S6h6$4.S7 and s4S9.
Commercial bills, aS51s.
Silver certificates, 60kq62.
Bar silver, 60A
Mexican dollars, 4S1a.
Government bonds, weak.
State bonds inactive.
Railroad bonds steady.