The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-06-15
EtmaMcrul.
The stock Market,

New York, June 1.-THE professional
board room traders, whose efforts it Is
| to keep in the current of events for q
short turn in prices, were kept in very
| unsettled frame of mind to-day by the
| frequent ebb and flow of prices and they
We're left in a state of confusion at the
close under the puzzling conflict Of cur
| rents in the stock market. Some rather
| large interests evidently took their
profits yesterday on the recent rise and
having done so, were ready to avow the
fact this morning. This brought con-
siderable following from outside sources
and the commission houses were sellers
Of the general list. But the bears who
sold stocks freely in the late furry were
buyers yesterday at the decline for the
purpose of covering their short con-
tracts SO that the belated liquidation
was pretty well absorbed. In fact, the
covering by the shorts, and large buy
ing of some of the high priced special
ties carried prices generally after the
opening above last nights level. But
weak spots began to develop, notably in
Sugar, Metropolitan and the smelling
stocks, the latter on the prospect of la
Dor troubles and a general selling move
ment set in. Steel and Wire, Anaconda,
Continental Tobacco, c.. c., C. and st,
Louis, Baltimore and Ohio Colorado
and Southern first preferred, Interna-
tional Paper and the Steel stocks, which
We're advanced yesterday, were all spec
ial points of weakness at different times
during the day On the other hand,
the Flower specialtfes, especially Brook
Ign Transit and Federal Steel, were
well sustained and showed a disposition
to advance. Sugar also after dropping
off nearly three points. developed an
aggressive upward tendency and rose
an extreme six points. Manhattan was
another center Of strength. This deter
red the bears from making new ven
lures on the short side, although the
early advances We're not well maintain
ed. The market was in fact a waiting
one In the exact sense of the word and
fell into extreme dullness late in the
day. The quick rally of 6h points in
Metropolitan street railway, after drop
ping So and Of ga in Sugar lifted the
level of prices from the low plane IL,
which they had been dragged during
the afternoon and made the close com
paratively firm. Only a few stocks
showed net gains, fractional net losees
being the rule. The expected dividend
declaration of Northern Pacific com
mon, which was announced shortly at
ter O'Clock, gava that stock some
strength. Otherwise tf16 grain carrying
roads were inclined to heayiness on talk
of harm done by rains Denver pre-
ferred and the southweeterns generally
were conspicuously weak. The banks
were rather more eXacting in granting
loans on call during the day. and this
led to more attention being given to the I
outlook in the money market. The con- 4
ditions are much easier in London. where \
the effect on the stock market was
beneficial and this lessons the prospect J
Of further immediate outflow of gold.
There was reactionary tendency
manifest at some points in the bond
market and the volume of business done
was only moderate. Total sales par
value, S2,545, 600 ,,
Government bonds unchanged
L. u .Ohh Sermons Af.isneHr.