The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-15
An Ebb and Flow On the New York
Stock Exchange.
IN STATE OF CONFUSION
PULLING CONFLICT OF CUR
RENTS IN THE MARKET.
Weak Spots Developed Notably In
Sugar and Smelling Stocks-Mar-
ket Waiting One and Fell Into
Extreme Dizziness Late in the Day
Grain and Provisions.

New York, June 1.-THE professional
board room-trader whose effort is to keep
In the current of events for "A short turn
IN prices was kept in a very unsettled
frame Of mind today by the frequent ebb
ana flow OF prices, and they We're left in
a state of confusion at the close under
the ouzzling conflict of. currents in the
market. Some rather large interests evil
OenIy took their profits on the recent
rise yesterday and. having done so We're
ready TO avow the fact this morning. This
brought active following from outside
sources, and the commission houses were
sellers of the general list. But the bears
VINO sold stocks in the late furry yester-
DAY were buyers at the decline for the
purpose of covering their short contracts
SO that the belated LIQUIDATION was pretty
Wei absorbed. In fact, the covering by
the shorts and large buying of some of
the high-priced specialties carried prices
generally after the opening above last
But weak spots began to develop, nota-
bly, in Sugar, Metropolitan and the smelt-
ing stocks, the latter on the prospect
OF labor troubles. and a general selling
movement set in. Anaconda, Continental
IoDacco; p G {. x 5. L.; Is. d o.; Colo
rado ~ southern first preferred; Inter
national Pacific 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 specialties, especially Brooklyn
Transit and Federal Steel We're well sus-
tanned and showed a disposition to adj
vance. Sugar also, after dropping off
nearly three points. developed an aggres-
siVe upward tendency and rose an extreme
OF SIX points. Manhattan was another
bears from making new ventures on the
short side, although the early advances
Were not well maintained.
The market was, in fact, a waiting one,
in the exact sense of the word and fell
into extreme dullneSs late in the day. The
quick rally of az points in Metropolitan
Doll az
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 few
stocks showed net gains. fractional net
losses being the rule. The expected divi-
dend declaration on Northern Pacific COM
mon, which was announced shortly after
O'Clock. 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
SouthweSterns generally were conspicu-
ously weak The banks were rather more
exacting in granting loans called during
being 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.
There was a reactionary tendency mani |
Test at some points in the bond market
and the volume of business done was
only moderate. Total sales, par value 81
$4,000. Government bonds were I'M
changed.
Total sales of stocks today were AIS. $50,
including: American Hoop. 8. zoo; Ameri- |
can Steel & Wire. q. 800: American Sugar
Refining, l09. 900; American Tobacco, $500; |
AtchiSon preferred. IA, 200; Brooklyn Rapid |
Transit, 69 800; Burlington, Is. 200: Colorado |
Fuel & Iron. 8 100; Continental Tobacco |
$500: Metropolitan Street Railway, IA 900; |
Missouri Pacific. 500; Federal Steel. 40 |
800: Federal Steel preferred. 400: Man |
haitian con-. >. 900: New York Central, 5000; |
Northern Pacific, 800: Pennsylvania, A.
900; Peoples Gas of Chicago. $500; Read !
ing first preferred 1920; Rock Island, T. |
900; st. Paul .. 400; Union Pacific, 1850; |
Western Union, 4,S00.