The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-09
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW Y0R T0CK REPORT
Digest OF Exchange News-Mining Stocks.
Metal Quotations Wool Prices and
Movements-Grain and Pro-
duce-Rsview OF Trade.

New York, June s.-The market took on
the appearance of vitality and strength
which is associated with a bull market,
a. one period during the day, but the in
evitabe realizing seemed to take the snap
out of the market, and when the bears per-
ceived that the buying was not renewed
with any eagerness even after the realiz-
ing offering should cease, they attacked
the market in the last half hour and
worked some very material recessions in
prices. Sugar, Metropolitan and Brooklyn
Transit closed more than two points below
the high level, though retaining still good
ret advances in price. A number of the
specialties and prominent railroads also
had a point or over taken from the top
prices.
The opening of the market was surprs-
ingly tranquil, considering the amount of
business that was being done. A long list
of important stocks opened at unchanged
prices and no stock in the list showed a
change of as much as a point In the early
transactions. 1t was evident that there
was a large bear party in sugar still u1-
convinced by yesterdays dividend declar-
ations. and they undertook to force down
the price of that very uncertain security.
ever. the decline met resistance of a kind
which it was not in the power of the bears
to overcome. The experience during the
remainder of the day was not an agree
able one and the heavy blocks absorbed
at the high level was convincing evidence
of their distress. The advance in price
toe refined sugars, which was acquiesced
in by all interests in the trade, seemed
to bring home the bears. The very buoy
ant tone of Brooklyn Transit Metropol-
itan Street railway and Manhattan added
to the discontinue of the bears. Later
in the day the tobacco stocks took up
the advance. Yesterdays dividend on At
Gibson preferred had a very stimulating
effect on that stock as well as on all the
grain-carrying roads. The western and
southwestern stocks nearly all rose over
a point and pretty much the whole rail-
road list responded in sympathy, the only
lasgards being a few Southern roads,
which were affected by seulng for London
account. The announcement of a further
shipment of $1,000000 gold on Saturday,
making a total of $500, 900 on the move
ment. was without influence on the mar
ket. This outward movement of gold is
now generally understood to be due to
special Inducements offered by the Bank
OF England to secure replenishment of its
reserve. There are intimatons of similar
pressure from Russia and other continent
al points, though no authoritative Informal
ton can be secured on the subject The
iron and steel stocks were conspicuously
heavy all day with one or two exceptions,
though they did not suffer materially in
the later decline. Large gains were shown
by number of railroad stocks seldom
traded in, including Iowa Central pre-
fefred Minneapolis, St. Paul and Sault
Ste. Marie common and preferred: Hook
ing Valley, Evansville & Terre Haute and
Des Moines & Fort Dodge preferred. The
tone at the close was decidedly weak,
The market for bonds showed improve
ment and an increased volume of dealing
as the day progressed. Total sales 81
$4,000 par value
United States Is advanced half in the
bid price.