The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-13
OUTSIDE ORDERS CAME IN MORE
FREELY, DUE TO THE AD-
vANCES IN PRICES
PROFESSIONALS TOOK PROFITS
the Advance, but the Close Was
at a Gain Over the Previous Days
Prices-Rumors of Big Railroad
Deals Were An Favor. of the Bull
Movement.
Movement.

NEW YORK, July 1.-THE stock mar
ket showed continued strength, and buy
ing by professional operators was on a
large scale. There was a good demand
from outsiders, through commission
houses, at the opening, encouraged by
the rise in prices yesterday, and yester-
days professional buyers were free SELL
ers to realize while this lasted. The
market then came to the customary halt
after such process, before taking up an
advance. An eager demand developed
for Missouri Pacific and affected all
stocks of the Gould Southwestern group.
Not only the stocks. but all the securi-
ties of this group of railroads were af-
fected. Missouri Pacific held the leader
ship OF the market throughout the day.
and made n late advance to 1885, an eX-
IRENE rise of points. The motive of
this buying was the Wall street rumor
of plans for merging of the various rail-
road properties In the Southwest, in
which the government is interested.
Buying set in early for the grangers,
Paciflcs and Atchison preferred, and
after midday New York Central was
suddenly pushed up an extreme 2%
Large buying of Pennsylvania at an ad-
vance of IL seemed to be associated with
the New York Central movement but
an attempt was made to connect the
latter with Union Pacific and North
those two stocks. All of Northwestern s
gain was subsequently lost
The manner in which the buying de-
mand progressed through the railroad
list together with the upward tendency
IN Sugar, prompted the professionals to
attempt movement in industrial stocks
Leather preferred, National Steel, Tin
Plate, Federal Steel and General Electric
were bid UP between 1Q2 points, and New
York Air Brake made chara cteristic
upward Dash of IL points New York
Central rose quite conspicuousiy 21b
points, under the sentimental influence
OF the opening in New York of subscrip-
tons for the New Mexico refunding
loan. Sugar, Manhattan and BROOKLYN
Transit dropped sharply from top figures.
and many of the gains in the industriaIs
were wiped out.
PrlceS In the railroads sagged consid-
eraoly from the opening, and the closing
OF the market was heavy, net gains being
only partly retained. Philadelphia com
pany stocks, after selling at 49, suddenly
dropped to 80 in the late market.
Inc money market was easier TODAY
and confidence is felt that the supply
Will become still more abundant at a
very early date. Several large loans for
Inc purpose of new industrial fotations
are now released, and the banks are
gaining money from the subtreasurv.
ne Dull leaders are talking of a very
favorable bank statement on next Sat
urday, although the per cent rate for
call loans, which held for the greater
part of today does not indicate a pie
thoric condition as yet
The New York stock market received
some support today from London in
spite of the continued zheaviness there
IN other departments, but a sharp re-
covery III British consols and French
rentes late in the day, the fall in the
price of gold in London, and the ad-
vance in sterling exchange rates in Paris
and Berlin today indicates a relaxation
OF the money market pressure in Lon
don.
There was good business In bonds to-
DAY. 1t. Louis Southwestern seconds
leading the market. Total sales. par
|aIue, SS,365,000. United States Is regis
tered declined Il, and IS registeredH
while the Odds registered advanced Y in
the bid price -
STOCKS.
!, The following were the fluctuations of
the trading railway and Industrial shares
furnished by c. H. F. Smith & Co. mem
Ders or the New York stock exchange and
chicago board of trade: