The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-28
FALLING OFF IN THE BRISK DE-
MAND OF THE PREVIOUS DAY
WAS NOTICEABLE
RALLY CAME ON LATER
Separation I'm the Trading I'm Rail-
roads and Industrials Was Not
So Marked as on the Previous
Day-BrOOkIyn Transit Gained
on Denial That the Company Was
Having Labor Troubles.

NEW YORK, June N.-The activity of
buying of railroad stocks showed some
falling off in the course of today's market
after an especially active opening and
buying movement. But the demand
again sprung up In the late half
of the trading and carried railroad prices
to the highest of the day. New York Cen
trail was again the center of interest In
the market and 1t was a final squirt Of
1k per cent in that stock that gave the
market Its strong close. The last sale
of Central was at 1l0ls, the highest on the
day, and 21a above last nights close. The
late buying of the stock was on very
large scale. blocks of a thousand shares
and upwards showing quite frequently on
the tape. Manhattan was also rushed up
in the final dealings to 116A on the an
nouncement of the closing of contract
looking to the change to electric motive
power. The bull leaders were evidently IN
h concerted effort to make final prices
of the day the highest
The separation of the trading in the
railroads and industrial stocks was not
quite so sharp as yesterday. Federal
Steel was conspicuous at the opening for
an advance of 14s on the dismis sal Of the
injunction against payment of the divi-
dend declared on the common stock. A
denial of the report that any trouble was
pending among the street railway en-
ployes in Greater New York, also gave an
upward tendency to Brooklyn Transit,
and Steel and Wire also showed some
sympathy with Federal Steel, as the d.
rectors of that company had assigned the
injunction against the Federal Steel Com.
pany as a reason for not declaring a divi-
dend on their common stock. Sugar also
was disposed to move upward. But the
early prices of the Industrial stocks were
the best of the day, and in none were last
prices the best. The weakness of the
specialties and the hardening tendency in
the money market until the final upward
squirt, the days business as a whole was,
however, larger than for some time past,
and was remarkably well d distributed
throughout the railroad list, todays re-
port of earnings from all sections en-
phasizing the effort of those received yes,
terday. The movement in New York Cen,
trail separated itself more from the other
members of the Vanderbilt group than
was the case yesterday and the assertions
of bull traders that the buying was fcI
account of insiders was given color by
the presence in the street of w. K. Van
derbilt, event always made much of
by the bulls.
The increase in speculative activity can
hardly fail to call for increased loan &C.
ocmmodations, and this is expected to adj
to the already unfavorable bank return
on Saturday, in which god exports of
S,500,000 already engaged will have to
figure The heavy dividend and interest
obligations to be met on July l will also
make heavy temporary demands on the
money market The possibility of a
squeeze in the circumstances Is TAX n into
account by some observers. But it was
noticeable that todays hardening of
money rates in New York resulted in a
fall in the rate of sterling exchange, al.
though the rates for money in London
were also higher on the demand inciden.
to the stock exchange settlement, Lon.
don bought stocks in New York, which
is said to represent bear covering on the
settlement, and which had it's influence
in lowering the rate of exchange. But
whatever temporary furry may occur in
the local money market, the July dis
bursements will undoubtedly bring relief
These are estimated at SIZE, 000, 900 at New
York; at $20,000,000 in Boston, and at
$14 600, 900 in Philadelphia on account of in
terest and dividends. There was a larger
proportion than usual of today's tran=-
actions made on three days contracts.
The bond market showed increased &C
tivity and strength in sympathy with
stocks. Total sales par value 81, 327 600
United States seconds advanced n, and
the threes Is 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: