Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-20
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, NOney, Exchange Bonds, Grain,
Cotton, Provisions, Etc..

New York, June 19.-Speculation in
stocks has evidently reached a sort OF
equatorial line and is hooelessly be-
Gained in the doldrums with not
enough Roadway TO indicate in which
direction its course shall be finally
shaped. Dealings to-day continued
profoundly dun and outside of move
ments OF Il few s2ecial stocks, which
We're influenced by individual causes
the day S events were inconsequen;iai.
as is only natural in a market where
the buying demand is practically nj.
the drift of prices was drowned, even
with very small body of offerings to
weigh OH the market. There was, in
addition. the sympathetic effects OF an
active liquidation, coupled With bear
pressure i'll Steel and Wire. The net
results for the day are losses in almost
all cases. and in quite Il large number
OF cases these amount to as much as
point or over. Steel and Wire showed
it's weakness from the opening and
dropped by successive stages without
any determined support being manifest
TO Il level nearly 81 per share below the
price of Saturday. The confusion and
uncertainty as to the declaration OF Il
dividend at the coming meeting due to
the conflicting utterances of those con-
nected with the property, showing the
existence of dispute amongst the
directors themselves, are responsible
Tor this weakness. Heavy lines of this
stock were taken on by operators on
the confident assumption that n divi-
dend is to be declared. Fedora. Steel
and other stocks of companies in the
steel trade dropped in sympathy. a
buying demand for Tennessee Coal.
which spread to Colorado Fuel and Il
large influence in checking the decline
IN the whole group and affecting q
partial recovery, except in Federal
ri tA 1,..
last sale. ut net decline of over .
points. The temporary strength dis
played by Sugar also served as a sus-
tanning influence. The early drop in
the wheat market stiifened the Grang-
ers for a while. but they yielded again
The prevailing depression on fore 9Th
exchanges was an influence and the
bears sold the traction stocks on the
theory that Western street railroad
strikes might spread. The Baltimore
and Ohio stocks were rather conspicu-
ously weak, with no further eXDlana-
ton apparent than the decrease in net
earnings compared with last year. 1t
is evident that the public and opera
tors Ill stocks are waiting for the
future course of events in the coun-
trys business and industry To become
more clearly defined. Although the
buying demand is nj Il standstill pres
ent holders SNOW no disposton to sell
mt the present price. There WAS some
short selling evident to-day. but the
borrowing demand for stocks is so
small as to preclude the idea that a
large short interest exists. The bears
are apparently as disinclned to operate
as are the buyers. The consequence Is
the almost stagnnn; waiting market.
Prices of railroad bonds tended to
fal. but business IN them was aim 1st
rs quiet as that in stocks. Total sales
par value. Sl,995,0O0
United States IS, coupon. declined
Ac and the old As, coupon. advanced
hc. in the bid price. The total sales
OF stocks to-day were 81, 500 shares.
New York. June 19.-Standard Oil
closed 4.60M4.G2