The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-15
PRICES EBB and FLOW
Stock Market is Described as
a Waiting One.
FRACTIONAL NET LOSSES
Are the RuIe-CIoSe is Com
parativeIy Firm.

New York, June 1.-THE provisional
board room traders whose effort It is TO
keep in the current of events for short
turn in prices. were kept in a very unset
tied frame of mlad today by the frequent
ebb and flow OF prices. and they were
left in a state OF confusion az the close IN
der the puzzling conflict Of current in the
market. Some rather large interests evi-
IDENTITY took their profits on the recent rise
yesterday and. having done so. were ready
10 avow the fact tbs morning. This
brought a considerable following from
outside sources, and the commission
houses were sellers Of the general list.
But the bears who sold stocks freely in
the late furry yesterday were buyers in
the decline for the purpose Of covering
their short contracts, so that the belated
liquidation was pretty well absorbed. In
fact, the covering by the shorts and large
buying of some OF the high-priced special
ties carried prices generally. after the
opening. above last nights level. But
weak spots began to develop notably in
Sugar. Metropolitan and the Smelling
troubles, and a general selling movement
set in. Anaconda, Consolidated Tobacco,
Pittsburg, Cincinnati, Chicago and St
Louis. International Paper, Baltimore and
Ohio and the steel stocks, which were
advanced yesterday, were all special points
of weakness at different tImes during the
day. On the other hand. the Flower spe-
cialties, especially Brooklyn Transit and
Federal Steel, were well sustained and
showed a disposition to advance. Sugar
also, after dropping off nearly points,
developed an aggressive upward tendency
and rose an extreme six points. Man
haitian was another center of strength.
This deferred the bears from S1aking new
ventures on the short side, although the
early advances were not well maintained
The market was in face, waiting one
in the exact sense Of the word. and fell
into extreme dulnass late in the day
The rally Of - points In Metropolitan
Street Railway, after dropping SIP. and
3 IA in Sugar, lifted the level Of prices
from the low plane TO which they had
been dragged during the afternoon and
made the close comparatively firm. Only
a few stocks showed net gains. fractional
net losses being the rule. The expected
dividend declaration on Northern Pacific
common. which was announced shortly.
gave that stock some strength Otherwise
the grain-carrying roads We're inclined to
heaviness on talk of harm done by the
rains. Denver preferred and the South
westerns generally were conspicuously
weak The banks We're rather more exact
ing in granting loans called during the
day, and this led to more attention be-
ing given to the outlook in the money
market. The conditions are much easier
in London, where the effect on the stock
market was beneficial. and this lessons
the prospect Of a further immediate out
flow OF gold.
The total sales Of stocks today were
41SS60 shares including: American Hoop,
300: American Steel and Wire. 1880;
American Sugar Refining. 1o9. 500: 'Ameri-
can Tobacco, SO; AtcEison preferred.
Il, 200: Brooklyn Transit, Sc. 400; Burlington
L, 90: Colorado Fuel and Iron, 400; Con-
tinental Tobacco, 500; Federal Steel. 49,
go; Federal Steel preferred, 400: Man
haitian Consolidated. 1890; Metropolitan
Street Railway, 1900; Missouri Pacific,
500; New York Central, 800; Northern
Pacific, 500; Pennsylvania, 40o0, Peoples
Gas of Chicago. $500. beading first pre-
ferred, 400; Rock Island, 90; st. Paul,
%, 400; Union Pacific. 4.oo; Western Union,
400