The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-18
The WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

New York, June 1.-THE board room of
the stock exchange was almost deserted
to-day and there seemed to be an absolute
lack Of buying demand SO that even sig
nificant offerings carried the level of
prices downward. The few professional
traders present were disposed to sell
stocks in anticipation of the favorable
bank statement and on the general prin-
cp,e that prices will yield in dull mar
ket. An idea of the narrowness of the
market is given by the fact that during
the first hour there were just two trans
actions recorded in St. Paul, which was
the more notable, because of it's good
statement of gross earnings for the second
week in June The buying of the Flower
group, which has been persisted in for
the last few days in the face of the dull
ness in the rest of the market. was
abandoned and these stocks were allowed
10 drift down with the rest of the mar
ket.
American Steel and Wire fell away
rather sharply with the reports of dis
pute among the directors as to the pay
ment of a dividend of the common stock.
There were other sharp losses by other
new industrials which afterwards recoy
cred, Net changes are unimportant in
nearly all cases as the evening up of con-
tracts by traders brought prices back
to about the starting point. Bonds
showed a declining tendency in sympa-
thy with stocks on a small volume of
business.
The general public maintained an ndif-
ferent mood toward happenings in Wall
street during the week. Professional trad
ers have shown increasing Indifference to
the market as their efforts to invite out
side participation failed. The last weeks
rise continued and eliminated on Tuesday,
when a number of heavy operators closed
out their long accounts at profit. After
this movement the trading was mainly
contest between the professionals as to
which way the current of prices should
turn. Recovery in Sugar and strength in
the coaers and in some isolated in
stances in the railroad list gave some en-
couragement to the bull movement. But
1T had to contend with the listlessness of
the general public and with the machna-
tions of the present bear party in the
street, one of the largest individual oper-
ators maintaining hisconviction that prices
are too high. The crisis on the wage
question in Colorado which closes the ore
smeters and number of mines and thus
takes from the railroads an important
item of their revenue. weighed on the
stocks of all the properties concerned, and
had sympathetic effects on the stocks of
neighboring railroads. the Southwest
ern, as a whole, being conspicuously
| weak. .t.E-
| The. bears also counted upon a sentiment
| statement which was expected. A slight
| hardening tendency in the money mar
4 ket towards the end of the week attracted
| attention to the condition of the banking
reserves. s55~5s.
| The May foreign trade statement issued
| by the bureau of statistics of the treas
| ury department, received an unfavorable
4 Interpretation in the bear element in that
\ it showed the di1ninution of exports COM
| pared with last year still in progress
| Something has been made also of the
| broadening proportions of the problem Of
| fered for solution in the Philippines and
\ the possibility of large additional forces
| being required to subdue the insurgents
4 and establish order. The prevailing high
4 prices of our high-grade securities have
| undoubtedly prompted very heavy selling
4 b., foreign holders and the fact that we
\ are now exporting gold leads some au-
\ thorties to conclude that the trade bal
4 ance in our favor has thus been liqui-
| dated. but special inducements may have
| been oeffred by foreign government in
| situations to make good the apparent
| margin of loss in the exporting of gold.
| United States twoS declined ", the
threes and tours Il in the bid price.