The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-14
R|)FII-IAK|HG SALES
And the Stock Market Closes
Weak at Lowest.
MONEY CONTINUES EASY
Bank Statement Prospect En-
courages the Liquidation.

New York, June 1s.-There was marked
disposition from an early period in the
days trading TO take profits IN many Of
the stocks which have enjoyed large ad-
vance recently. This was evident prac-
ticaIly in all OF the standard stocks and
made Itself increasingly obvious in the in
dustTiaI specialties. TIE very decided
strength manifested by a small group OF
the industrials served 70 sky the market
for time and acted as a sort Of cover 10
the prOdt-taking sales which were fed on
the market. The recent strength OF Fed
eral Steel showed no abatement during
the early hours of the day and other mem
bers Of the Flower group notably Brook
lyn Transit and Peoples Gas, were strong
in sympathy; and an advence in Metro
politan, Manhattan and Sugar helped 10
keep up prices. The leadership OF these
stocks gave place in the course OF the
morning 10 National Steel American Hoop,
American Smelling, and Tin Plate, the
first named rising some points. The
awakening Of activity IN this group. which
was more prominent in trading than at
the local exchange. seemed 10 invite re-
alizing elsewhere in the list and an early
break in Consolidated Gas, followed by
pronounced weakness in Sugar, ebphaized
this tendency. There was a late rally in
Consolidated Gas, and Dressed Steel Car
was suddenly marked up 10 IS, an advance
Of over points. But no effect was app2r-
ent on the general list. which closed &C
tive and weak at the lowest point gener-
ally, today. Net losses in the Standard
railroads are for the most part between
1 and ? points. Sugar. which was traded
IN ex-dividend of per cent, lost nearly
five points on the day. There IS an ele-
ment among the professional operators
who habitually buy Sugar TO realize the
dividend. and get rid Of the holdings be-
tween dividend periods The selling from
this source was an Influential element in
the weakness Of that stock. and by SYM
pathy. OF the whole market. Manhattan
suffered from realizing on the declaration
of the regular dividend and on the con-
tinued effect of the adverse judicial deci-
sion on tax claims against the company
The strength of the steel stocks. which
came 10 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 the only exception TO the weakness
in the railroad list It 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 export viii figure. had its influence in
promoting today's liquidation. No effect
was apparent, however, in the money
~ket which continued easy and there
was no upward tendency in terling ex-
change while there was a sharp far 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 organized
Import. The bears helped the tate break
with runors of reverses in the Philippines
The total sales Of stocks today amounted
to 5so4s7 shares, including: American
Smelling. 300: do preferred. 300: Ameri-
can Steel and Wire. 81. 100; American Sugar
= 100: American Tn Plate. 400; Anacon-
da 800; Atchison preferred. 100; Brook
Ivn Transit. q. 90: Chicago. Burlington and
Quincy, $500: Caics go Great Wectern. g.
400: Chicago Minneapolis and ST Paul 81
700: Rock Island. 3 80. Consolidated Gas,
$50; Continental Tobacco. 70 30; Denver
and Rio Grande, 500; Do preferred. $50;
Des Moines and Fort Dodge. 500; Federal
Steel, i3 80; do preferred. 1900: Manhat-
tan. 20 2p9; Metropolitan street Railway.
2. 800; Missouri Pacific 239; National Steel.
220: North American. 1890; Peoples Gas
and Coke company. 5000; Union Pacific g.
20; Tennessee Coal and Iron, $50; United
states Rubber. 400.