The daily morning journal and courier., 1899-06-29
Etmamctul.
---'------------'------------- The Stock Market,

New York, June S2r--An effort was | made to repeat the demonstration of strength in the stock fnarket which was given by the outburst of activity and strength which carried prices to the highest in the closing dealings yester- day. But this was only partly success ful. Manhattan was rushed up to a final quotation of 1l9 1-2, which as 3-4 above last nights price, as New York Central was rushed up late yesterday. But the sympathetic effect on the gen. eral list was far below that of the New York Central movement. Decidedly the most significant feature of the days trading was the cessation of the upward movement in New York Central and af- filiated stocks. There was an active opening in the Stock, caused by the &C., emulation of commission house orders which were attracted by the recent strong upward movement of the stock. 1t was advanced in the day almost a point. But the demand was evidently satisfied for the time being and the movement lacked snap. The price was allowed to lag. There were various fac tors of strength in the days develop
 
 price of railroad stocks, but there was obvious profit-taklng at some points and the days net advances are small except in few eases. The rally at the close did not bring prices back to the top level. The most potent influence in fa- vor of the bulls was the favorable dis position manifested toward American securities in the London market This was in face of tendency to dullness and depression in the general market there, The takings for London account in this market were estimated at 35,000 shares or upwards, of various stocks. The demand was most eager for Louis ville and Nashville, which rose nearly 2 points on the London demand. Various rumors were in circulation of an ap- preaching increase in the dividend rate to account for the rise. Southern Rail- way preferred was strong in sympathy The effect of the London buying was shown in a drop in the actual rate for demand sterling to 4.S7 1-2 thus pre- cluding the likelihood of further gold ex- ports at the present time. The local money market also remained steady in spite of the activity offthe speculation III lHe SlOCh illdLhGl koldl6Il5IlS Ol railroad earnings, which were received during the day, continued the extraordi- narily favorable showing. The cash de- mand for wheat and the buying for ex- port were sustaining factors in the granger group, even though the decline ill the heavy northwest receipts was re- ported to have set in, In view of these continued strong features in the situa- tion, an effort was made to shift the speculative activity into the lower grade of railroad stocks when it was seen that New York Central had become quiescent and profits were being taken elsewhere. Southern andf western railroad stocks were the faVS Srites. Finally the indus trial stocks, which had been entirely neglected were taken in hand for a rise, under the encouragement of the strength manifested by Sugar and American To- bacco But the industrials proved rather heavy to lift and dropped off i'll the last hour, Continental Tobacco and Federal Steel being especially weak. The firmness at the close was on short cov- ering induced by the final spurt in Man haitian.
 Railroad bonds were moderately active and strong. Total sales, par value, 3D. 745, ,000
 United States threes coupon declined IA in the bid price.
 NEU iORk STOCK lE.dERET. Opening, Highest, Lowest Quotations On the New York Stock Exchange, reported by Prince tS Whitely, Biokers. 15 Center Street. New Haven.
 open. High. Low. Last.