The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-10
SPECTATORS GAIN OF A WEEK If
LOST IN A SINGLE SESSION OBJ
THE EXCHANGE
WISE ONES LOOKED sADDEsT
All Sorts of Dire Predictions of the
CaIamites in Store, for the Sugar
Trust Were Worked to the Dis
comhture of the Bear Element
Professionals Took Their Profits
in Many of the Lines. =
Close. Lay.
Bar silver, New York. .60A 60A
Call money, New York. ........... 23a 214

NEW YORK, June 9.-Late this after
noon occurred one of those slaughters Of
the innocents around the sugar post on
the floor of the stock exchange which
have come to be looked for as a periodi-
cal incident in the history of the ex-
change. For weeks there have been dire
full predictions that the end of the sugar
company as dominating factor In the re-
timing industry was at hand, that the
suspicion of dividends was imminent to
carry on the war, and all Sorts of disas-
trous predictions. Gentlemen supposed
to be versed in the inside affairs of the
company have either been silent with an
expression of plaintive sadness, or have
freely admitted their conviction of the
truth of the worst that could be said.
Many persons seeing the high level of
sugar, considering these conditions, have
sold the stock very literally with the ex-
pectation of buying back when the col
lapse came. A great many of these
bought their stock to cover short con-
tracts today at level nearly 20 points
above that at which the direful predic-
ticns had carried It, Inside interests be-
came averse to selling and held out ten
aciously for the higher price. This excit-
ing and painful incident closed the day
of uniform strength throughout the mar
ket for securities.
The action of the market was very sim
liar to that of yesterday, the early
strength centering III New York traction
shares and the graEgers. The bears made
an Intellectual effort TO check the advance
by raiding down continental tobacco over
three points. They turned sugar back
ward some one and q half points also,
but without marked effect on the gen.
eral list. Later there was realizing in
the New York traction group. with re-
actions of about O point The strength
developed by the coalers again turned the
market upward The same thing hap
pened in the last hour, when the profess
SIGNALS took profit in sugar and the trac
ton stocks. The recovery began in some
of the obscure stocks, Des Moines and
Fort Dodge rising AZ; consolidated gas s,
and the other stocks 2k to 3. Steel and
wire came late into the advance. the lat
ter on published opinion by director
in favor of a dividend on the common
stock. Then came a rush in sugar, which
made the last prices the highest of the
day. The net gain in sugar is 6as in
Brooklyn Transit nearly points, in Met
| ropolitan street railway 5M Manhattan,
4; in the coalers, from III in Delaware
and Hudson and New Jersey Central to
Az in Lackawanna. In the grangers from
1 to ~ per cent; in many standard stocks
a point or over.
ments of gold was without the slightest
effect on the market, as was the contin-
| ued large selling for London account An
improved tone for the copper proportion
was an incident in the days market.
The market for railroad bonds was
rather more active today, and prices
tended upwards. There was very large
buying of the Reading and Colorado
Southern issues. Total sales, par value,
So, 600. United States 6s advanced &c,
but IS declined 1Ac in the bid price.
STOCKS
Furnished, by Charles H F. Smith &
Co., members of the New York stock ex-
change. Pioneer Press building, who have
special wires TO Chicago and New York.
Closing prices are bid: