The daily morning journal and courier., 1899-06-30
CA S " o FRI A- paa,s tho /, The Kind You Have Always Bought Signature s1 &exHAzzg
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--------'-----7---7 - The stock Market.

! New York, June 29.--The stock mark
 ct showed the effect of continued profit | taking to-day. Most of the traders l came to the board room this morning l bearish in sentiment; The approach of
 a three days holiday coupled with the weeks sharp advance in prices were
 considered sufficient reason for reac- tion. Lively buying after the opening l for London account seemed for a time | to refute the position of the bears, but
 when this demand had been satisfied and an announcement was made of a $2000,- 1 900 gold shipment on Saturday. in spite 1 of the low price for sterling exchange, the bears gained renewed confidence and
 the market sagged away without much
 Interruption until the last. There is a
 contradiction difficult to explain in the
 fact that the stringency in London
 money market is responsible for the drain of gold from New York with its deleterious effect on stock values in this market, while the buying for London account, in spite of the money stringen- cy there. was about the only factor of
 strength in New York's stock market
 this morning. The weekly statement of the Bank of England shows that the
 bank has succeeded in increasing it's
 stock of gold only about $SO,00O during
 the week while the demands upon it by
 the money market, incident to the stock
 exchange settlement have resulted In it's loans of over $26000, 900. The proportion
 of reserve to liability is thus reduced
 from 4244 to 375 per cent, a very striking change in view of the expressed uneasiness in England over the present state of the banks gold reserve. The fall in British consols of 5-16 was due to cash sales. probably connected with the state of the banks reserve That the return did not have a greater effect on the London stock market was probably due to a reassuring opinion of the Brit ish chancellor of the eXchequer, ex- pressed last night on the subject of the l reserve of the Bank of England The | local stock market owing to the sus- | taining effect of the buying for London account, fared pretty well in spite of the undoubtedly heavy profit taking, incl dent to the approaching holiday, the de- pressing effect of the gold announce ment, the furry in call money and a growing apprehension that the disburse- ments of July dividends and interest may be reflected in the money market l for a considerable period after July 1. The profit-taking was conscious in New York Central and Manhattan. The for mers hows net loss of point and the latter nearly two points Consolidated Gas rose at one time five points on ru- mors of a settlement of the local gas war, but reacted again. The indus trials and special despatches were gen. erally heavy, including Sugar, Tobacco stocks and the city traction stocks.
 The bond market was generally strong the Erie and Colorado and Southern is- sues being prominent. Totals sales par value $2,65OO0O.
 United States 2s and the 9s advanced 4 and the lives 1s in the bid price.
 MET TORN STOOK M.lEhhr. Opening, Highest, Lowest Quotations on the New York Stock Exchange, reported