The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-17
EFFORTS OF PROFESSIONAL DEAL
ERs TO REVIVE THE MARKET
WE'RE UNAVAILING
coALERs WERE STRONGEST
This Was Attributed to the Return
From Europe of Prominent
Financier Whose Dealings Held
That Line of Securities Up-FlOw-
Nothing to Cause Weakness.

NEW YORK, June 16-There were a
small number of stocks whose prices
were marked up at the opening today
and for which buying demand existed
at intervals during the day. The coalerS
were conspicuous, especially the Reading
issues, and they rose on an average OF
about ~ points. The Flower group also
moved upwards, and gave some sem
blance of strength to the general mar
ket Aside from this demand the mar
ket was almost wholly neglected, and in
the hands of small coterie of profess
sional traders. The utmost endeavors of
these operators did not serve to move
prices more than a small fraction, ex-
cept in a few isolated cases.
The advance in the coalers was pretty
we'll held. 1t was attributed to the
return from Europe of a prominent finan-
cier, who has figured in many railroad
reorganizations, and to the closing out
of options on Lehigh Valley, by sympa-
thetic control. Some of these railroads
displayed a rather firm tone in sympathy
with Reading, but tn. movement of
prices in them was inconSequental. The
Flower stocks were not so we'll held,
and in some of them the advance was
more than lost before the day was over.
Sugar moved up and down over range
of about 8 points, and closed with a
smarl net loss. New York Air Brake
made characteristic skyrocket jump of
16 points. Colorado Southern first pre-
ferred dropped "a; presumably on account
of the labor troubles in the state; Met
ropolitan ranged over points, but closed
at a small change.
There was nothing in the situation that
found any reflection in the stock trading.
The undertone was rather firm in the
railroad list, partly III sympathy with
the strength of individual stocks above
mentioned. The announcement of an ad
ditional shipment by tomorrow's steamer
of $1,000,000 in gold was without influence
in the trading, unless it might have been
a feature in discouraging activity. In
fiuence in the same direction was the
expectation of an unfavorable bank
statement tomorrow. Last Saturdays
shipments as well as those made early
in the week. will all figure in tomorrow
statement, but not today's engagement.
The banks are said to have lost cash
in other ways during the week, and a
large decline in that item is expected
in tomorrows statement The item of
loans cannot be forecasted, but there
were reports of a calling of some loans
yesterday, suggesting that there may be
a contraction of credits reflected by to-
morrow's return.
The market for money continued rather
firm today, while rates in London show
ed further decline under the equalizing
influence of the gold shipments. An in
cident of the day was the firmer tone
in the silver market in London, said to
be due to buying for Indian account, and
to the effect of the Colorado smelling
strike.
Reading as were the feature of the
bond market with an advance of l per
cent on large buying. Elsewhere in the
list there were points of weakness. To-
tai sales, par value, 50, 7S0.009. United
States Is and old as coupon declined n,
and the 5s advanced "A in the bid price.
STOCKS .sa4
Furnished by Charles Fl. 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 hid: