The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-27
MOST STOCKS
| SHOW NET GAINS
though the Close Was Decidedly Be-
low Best Level.
The TONE VERY UNSETTLED
In Spite Of Notable Strength Shown by
Some stocks Bonds Were Cen
orally Irregular, Though Some
Showed Sharp Gains.
The TONE VERY UNSETTLED.

NEW YORK. June oG.-The bull contin-
gent IN stocks failed to- realize theirse1-
the close show net gains for the majority
OF Stocks.eg Final prices, however, We're
considerably below the best, and the tone
OF the market during the latter part OF
~. in spite of the sustaining influence OF
notable strength in some stocks.
The opening rise was in sympathy with
London. and was attributed to the effect
of the news from China Of the relief of
Tien Tstn. Later advices showed that the
periodical settlement in London had dis
closed an unexpectedly large bear account
was the covering of short contracts. 1t
was especially effective in some Of the
Southern railway stocks. The New York
to the progress Of events in China, as it
has consistently done throughout, and
ths opening advance was largely lost
The first rally in the market followed
the sharp break in the wheat market and
was most noticeable in the southwestern
Changers, especially Burlington and At
Gibson preferred Crop news continued
bad from the spring wheat region. but
tho spectators who have been buying
wheat are evidently impressed with the
Willingness OF the farmers to take prices
offered. and the wheat market showed
continued realizing. with d reverse sym
pa1hy on the grain-carTying roads.
Stocks came largely from the short in
terest. who were willing TO take profits at
the decline in prices. The Continued
weakness IN Baltimore and Ohio and
signs Of heaviness in Pennsylvania dis
couraged the buying of railroad stocks,
and they were inclined to drop during the
latter of the day. The sustaining force
during that period was the advance in
taapid Transit and the steel stocks. In
the former the bears showed symptoms
of alarm. recalling their painful expert
ences growing out of a similar weakness
in Third-Avenue. another traction stock
There was no news to account for the
strength in the eejc stocks MT how yar
absorbed with considerable confidence.
and advanced easily on small transac-
tons. Their gains at one time ran from
i TO 81. Apparently the opinion is gain
ing force that the decline in price of iron
and its products has almost run its
course Sugar was active and errahc, adj
rancing on the rise in refined sugars, but
relapsing on profit-taking.
The call by the Treasury Department
for the payment Of a third instalnlent of
100000 Of Government deposits had no
apparent effect on sentiment. as the date
liked for the payment, July 10th, goes be-
You'd the immediate pressing demands on
the money market. which will be for the
July first settlements. Time money con-
;inues to harden, but call loans are still
very easy
Some Of the speculative bonds show
ally was Irregular Total sales. par value,
Nanced Il in the bid price.
The total sales OF stocks to-day We're
MONEY AND ENcHANGE-Money on
can easy at li4@iH per cent; last loan
at IA per cent; prime mercantile paper,
Ss.G4 per cent. Sterling exchange firmer
with actual business In bankers bills at
-.S6lssd4. S6l4 for demand and at S4.S31a9
4.Ssas Tor sixty days; posted rates. 4.S5
and 81. S71a14. SIS; commercial bills, 81 .S:,I:
Ml.S4. Bar silver, 612s; silver certificates,
ca: Mexican dollars, IS. Government
bonds firm. State bonds inactive; rail.
road bends Irregular.