The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-03
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mintng Stocks.
Metal Quotations Wool Prices and
Movements-Grain and Pro.
duce-Eeview of Trade.

New York, June 1.-The bears suffered
complete rout on the stock exchange to-
day and rushed to cover outstanding ac-
counts with symptoms of distress. Prices
were marked up in the last half hour of
the trading in way which showed plain
ly the eagerness of the shorts to close out
their contracts, SO that they were bidding
prices up themselves in many cases. No
more complete reversal of speculative sem
timent could be imagined and the weeks
earlier losses were wiped out in all but
few cases and the general level of prices
brought back to about those of last Sat
urday.
Bears did not yield the field without a
struggle, the opening Of the market show
ing declines in number of stocks which
have been favorite targets for the bears
in the recent market.
Sugar was raided down a point and
Brooklyn Transit, Manhattan and mum.
Der of the steel stocks were under pres
sure, while the opening gain in Metropol-
itan Street Railway was almost wiped out.
But the strength in the railroad list, es-
.peciaIly the International stocks, in SYM
patty with the earlier rise in London
and on buying for London account check
ed the earlier effort to force a rise. Met
ropolitan Street Railway. Sugar and
Brooklyn Transit all developed quite
buoyant tendency and the bears drew Off
their forces and awaited developments.
BY the time the buying for London &C
count had been executed the market be-
came dull and the bears returned to the
attack. They produced some impression
on the Tobacco stocks, American Mailing,
Rubber and Minneapolis, st. Paul and
st. Paul & Sault Ste Marie, but almost
no effect on the general list.
A 2-point decline after midday in Sugar
was the only evidence of any weak spot
in the market and the stubborn resist
ance Of prices induced the bears to aban-
don their campaign and rush prices up in
the final hour In their panic-stricken eff
forts to cover.
Net gains throughout the list ranged
from 1 to over points and are more than
2 points in the majority of the active
stocks. The announcement made after
business hours yesterday of the engage
ment of $1000,000 gold for export came as
surprise and was greeted hopefully by
the bears. But the operations served to
relieve the London money market and
thus awaken a buying movement in the
stock market there, which spread to the
American section and was reflected back
upon the New York exchange. This re-
pewed strength. which was equally as in
effective in depressing prices as the re-
ported failure of Russian crops, was ex-
pected to bring out large reserves of
American wheat.
In the outside market there was very
strong recovery in the stock of the Anal
gamated Copper company which touched
IS. This was accepted as a resumption
of aggressive support from the tactics of
the powerful interests behind that combi-
nation.
Good reports from the anthracite trade
and the expectation of favorable bank
statement by reason of contraction of
loans all contributed to the upturn in
prices.
There were yielding points in the bond
list but many of the issues turned up
wards, Total sales, par value. $2,000000.
U. S. 3's registered advanced a per cent.
and the coupons % per cent in the bid
price.