The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-06-15
EBB And FLOW OF
PRICES IN STOCKS
Some Large Interests INDUCED
in Profit Taking.
BEARS BOUGHT AT DECLINE
Reactionary Tendency Manifested in
Bond Market and the Volume OF
Business Transacted Was Mod
erate-Total Sales 1914, 900
BEARS BOUGHT AT DECLINE

New York, June 14.-Tho provisional room
traders. whose effort to keep the current
of events for a short turn in prices, were
kept in very unsettled frame Of
mind today by the frequent ebb and flow
of prices, and they were left in state
of confusion at the close under the con-
ficting current market. Some large inter
ests evidently took their profits on the re-
cent rise yesterday, and having done SO
were ready to avow the fact this morn
Ing.
This brought a considerable following
from outside sources, and the commission
houses wero sellers of the general list. But
the bears who sold stocks freely in the
furry yesterday were buyers at the decline
for the purpose of covering their short con-
tracts so that the liquidation was pretty
well absorbed.
In fact, the covering by the shorts and
large buying of some of the high-priced
specialtie5 carried prices generally after
the opening above last nights level. Spots
began to develop, notably in Sugar, Metro
poitan and the smelling stocks, the latter
on the prospect OF labor troubles ana
general selling movement.
Continental Tobacco, Big Four, Colorado
and >5t Paul preferred, International Paper
and the Steel stocks and southern, which
were advanced yesterday, were all several
points off at different times during the day
On the other hand, the Flower specialties,
especially the Brooklyn Rapid Transit and
Federal Steel, were sustained and showed
a disposition to advance. Sugar, also, alter
dropping off nearly points, developed an
aggressive upward tendency and rose to an
extreme points.
Manhattan was another center of
i bsaa fFnY
making new ventures on the short side,
although the early advices were not well
maintained. The market was, in fact,
waiting one, in the strictest sense OF the
word, and fell into extreme dullneSs late In
the day. The quick rally of 412 points in
Metropolitan Street Railway, after drop
ping S1b, and 3A in Sugar lifted the level
of prices from the low plane to which they
had been dragged in the afternoon and
made the close comparatively firm Only a
few stocks showed net gains, fractional
losses being the rule. EX-dividend in North
ern Pacific common, which was announced
shortly after 2 o'clock, gave it strength.
Otherwise the grain carrying roads were
inclined to heaviness on talk of harm by
rains Denver preferred and the South
westerns were weak.
Banks were rather moro d.Xacting in
granting loans called during the day and
this led to more attention being given to
the OUTLOOK IN inc money fNdThGl. SOHul-
tons are much easier in London, where
the effect on the stock market was beneh-
cial and this lessons the prospect of fur
Their immediate gold outflow
There was a reactonary tendency mani
fest at some points in the bond market and
the volume of business done was only mod
crate. Total sales par value $544 COO
Money on call steady at 2@e9 per cent;
last loan, 8 per cent.
Prime mercantile paper, Sl4@4 per cent.
Sterling exchange steady, with actual
business in bankers bills at S4.S73s@4SS for
demand and at "a. S57sG4S6 for sixty days.
Posted rates, 81. S61AQ4.S7 and $i.S9.
Commercial bills 81. So.
Silver certificates, 6012Q62
Bar silver, 60A.
Mexican dollars, 1872.
Government bonds steady.
State bonds firm.
Railroad bonds irregular.
New York, June H.-Total sales of
stocks today ASSOC shares including:
American Steel and Wire, $1,000; Ameri
can Tobacco, $500; Brooklyn Rapid Transit,
50 400; Continental Tobacco, $500; Louisville
and Nashville $500; Metropolitan, 14OO0;
Tennessee Coal and Iron, 1000; American
Sugar, 19,900 Atchison, preferred, 1920;
Burlington, 1920; Federal Steel, 40 500;
Manhattan, 10000; Peoples Gas. 1900; st.
Paul, 90 400.