The daily morning journal and courier., 1899-06-03
The Stock Market.

| ANVN lOlh, June 2.-l0e DedTS Sul- 1 fered complete rout on the stock ex- change to-day and rushed to cover out
 standing short accounts with symptoms l of distress. Prices were marked up in
 the last half hour of the trading in a
 way which showed plainly the eagerness
 of the shorts to close out their contracts so that they were bidding prices up on | themselves in many cases. No more complete reversal of speculative senti-
 ment could be imagined, and the week S
 earlier losses were wiped out in all but few cases and the general level of prices
 brought back to above that of last Sat urday. The bears did not yield the field without struggle, the opening of the
 market showing declines in number of stocks which have been favorite targets for the bears in the recent market. Sugar was raided down a point and
 Brooklyn Transit, Manhattan and a
 number of the steel stocks were under
 pressure, while the opening gain in
 Metropolitan Street Railway was all most wiped out. But the strength in the railroad list, especially in the inter
 national stocks in sympathy with the earlier rise in London and on buying for London account, checked the earlier ef- fort to force a decline. Metropolitan Sugar and Brooklyn Transit all devel- oped quite buoyant tendency and the bears drew off their forces and awaited developments. By the time the buying for London account had been executed the market became dull and the bears returned to the attack They produced some impression on the tobacco stocks, American Mating preferred, Rubber and Minneapolis, St. Paul and Sault Ste Marie, but with almost no effect on the general list. A two-point decline after midday in Sugar was the only subsequent evidence of any weak point in the market, and the stubborn resist ance of prices induced the bears to abandon their campaign and to rush prices up in the final hour in their panic stricken efforts Ho cover. Net gains throughout the list range from 1 to over points and are over 2 points for the majority of active stocks. The announcement, made after business hours yesterday, of the engagement of $1 000 000 gold for export. came as sur prise and was greeted hopefully by the bears. But the operation served to re- lieve the London money market and thus awaken a buying movement in the stock market there which spread to the American section and was reflected back upon the New York exchange. The re- newed strength in wheat was equally fn- effective in depressing prices of stocks, as the reported failure of Russian crops was expected to bring out large reserves of Amrcan wheat In the outside mar ket there was very strong recovery in the stock of the Amalgamated Copper company, which touched 95. This was accepted as a resumption of aggressive supporting tactics by the powerful in- terests behind that combination. Good l reports in the anthracite trade and the | expectation of a favorable bank state l ment by reason of contraction of loans | all contributed to the upturn in prices
 There were yielding points in the bond | list, but prices of many issues turned l Total sales, par value, $2,- | 900 000
 United States threes registered ad- | yanced IA and the coupon 3-S in the | bid price.
 Closing Prices.
 Following are the closing prices reported | by Prince x Whte;y. Bankers and Brokers, mi s