The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-07
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest OF Exchange News-Mining Stocks.
Metal Quotations Wool Prices and
Movements-Grain and Pro-
duce-Rsview of Trade.

New York. June Cuisines was on far
too small a scale on the stock exchange
to-day to warrant any well-defned con-
clusion as to the general temper of spec
ulation or just reflection of business and
financial conditions. But there was
very notable hardneing of values in rail-
road securities. which was followed up as
the day progressed by rise in prices
which embraced pretty much every rail-
road stock dealt In. This strength started
buying in Louisville, which was very con-
fidently bought for London account. The
bidding up of the price in this stock in
the course of executing buying orders i'm
parted strength to the whole group,
Southern Railway preferred and Norfolk
& Western preferred being the first to re-
sPond and the grangers, Pacifcs, South
westerns, and even some of the trunk
lines, followed this lead. Pennsylvania &
Pittsburg, c., c., C. & st. l.. rose from IN
to 81 points, the latter stock however,
losing all but TX points of the advance.
The motive assigned by the buyers was
the possibility that a more liberal policy
toward stockholders and less insistence
unon REIMBURSEMENT of resources in equip
nent might follow the change in adminis-
lTdtlOH mdue necessary by FfeSlQent
Thompson's death. But the trading for
the most part was profoundly apathetic
and there were minutes at time when no
tape came from the ticker. The attention
OF professional traders was all centered
on Sugar and the utterly erratic move
ments of this stock disposed of the entire
uncertainty regarding to-morrow's div-
dend action. Advocates of the regular div
idend and of a reduction seemed equally
confident
the stock dipped deeply below last nights
level and rebounded far above it. The
extreme range was AZ points.
An incident of the trading to-day was
some large Wagers on one hand that to-
morrow's Sugar dividend declaration
would be at the regular rate and offers on
the other hand to sell the dividend on
large amounts of stocks for less than the
regular rate.
The same distrustful attitude is main
tanned toward the iron and steel stocks,
Notwithstanding semi-otficial intimation
as to the rate of the coming dividend dec
larations and informal assurances that
current earnings are far in excess of the
proposed dividend disbursement. Even the
preferred stocks of industrials, however
regular, amy have been their dividend
records, continue far below the prices of
ordinary dividend-paying railroad stocks
which make the same returns on money
invested. IhlS dlStrust or 1nduStrials
seems to be the most important element
in the present dizziness and heavness of
the market.
A further small shipment of gold to-day
was wholly without influence in the stock
markets as well in the foreign exchange
! market as those that have preceded it
from the same institutions. The convic-
ton is general that the outflow is the re-
suit of special conditions and no longer
an exchange situation.
The bond market was dull and gener-
ally firm, though there were a few yield
ing spots. Total sales par value, $22l0,-
600.
u. S. old As registered and the SIS ad-
Vanced Il per cent. in the bid price