Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-13
REVIEW OF MARKETS
FINANCIAL And COMMERCIAL
Sticks, Money, Exchange. Bonds, Grain,
Cotton, Provisions, Etc.

New York. June 12.-There was evil
dence of large buying by powerful
financial interests in a limited number
of stocks and of manipulation to ad-
vance prices in the stock market to-
day. Speculation otherwise was in
somewhat quiescent state. Outside of
special cases where prices were sup
ported. the tone was rather heavy. The
railroads ranged downward within the
limits Of a point during the early trad
Ing. There was organized buying
throughout the day of Federal Steel.
which was marked up nearly 3 points
ana closed almost at the top. There was
some sentimental advances by some of
the other steel stocks. American Steel
ana wire responding late in the day on
covering OF shorts. But none of the
gains in the group were we'll held out
side OF Federal Steel. The so-called
Flower stocks were all well supported
and Brooklyn Transit shared its
strength with Metropolitan Street Rail-
%ay ana Manhattan. This group of
New York traction stocks showed the
enects Of realizing from time to time
curing the day. and Manhattan was
dragged below last nights close by its
weight. The Changers were taken up at
one time. st. Paul in the lead, but did
~e~eAA Gil VI lus Sdln ana In some
nstaIces more than lost 1t. The Coal
efS were pretty we'll sustained also.
Other points of strength were Pitts
ourg, c., c.. and St Louis. which rose
an extreme sA. Chicago Terminal pre-
1er.ea; Denver and Rio Grande Issues,
ahd the newly issued Wisconsin Cen
sral stocks. Sugar fluctuated up and
oown curing the whole day, but always
aoove Saturdays level 1t rose at one
IN. .,me three points, but lost 1t all before
she ciose. There was no evidence of out
sioe demand to keep the market I'D. and
the railroad group showed itself affect
ea oy the heavy tone of the foreign
STOCK exchanges on account Of political
olsquiet. The announcement OF the re-
signation OF the French Ministry helped
enc s ,ate reaction In prices. The en-
gagement Of an additional 81. 900 600 Of
EoIo Tor export tomorrow, although
the probability of II had been intimete1
also weighted on the market. No effect
was apparent In the money market.
which continued decidedly essy. Fly,
change also. though 1t hardened n
snade. continues q broad fraction be-
low the point where experts can figure
profit on gold exports It is n. fact
generally admitted that the gold move
ment Is due to actual buying OF the gold
In this market to replenish the reserve
or the Bank OF England probably also
LOT RUSSIAN purposes. This is a pre-
Clsely similar opera tion to that under
taken by the United States Govern
Inent through syndicate to replenlsh
the gold In the treasury during the ia ar
administration. 1t is to be noted that
while the foreign money markets are
thus drawing on New York for gold nc
me me most available source OF supply,
tnew ork banks ere offering special in
JUDGEMENTS: such as paying the express
age on bills remitted by their interior
correspondents. to secure n supply of
IesaI tender notes to meet the demand
OF active business conditions.
Inc market for railroad bonds was
ed. Total sales 50 500 600.
rs In the bid price. Nee''"eu
me total sales Of stocks were e1o.47s
4.62@4 g. '"'uaro OIL