The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-26
ACTIVE Day IN Stocks
BUSINESS WAS OF THE RUSHING
SORT, THOUGH PROFESSIONALS
HELD FLOOR
B. & o. WAS A LEADER
Talk of Deferred Dividend Was the
Cause of Especial Activity in
That Securfty-LiGuida-
ton Felt.

A. IL
NEW YORK. June 25.-There was con-
siderable speculative activity in the stock
market today, and the fluctuations IN
prices were quite wide and frequent The
net charges are mostly small, so that the
result Of the days trading is not con-
elusive as to the turn in prices. The
market was exceedingly Irregular all day
and at times Very much confused. The
opening depression in sympathy with Lon
don. where the Chinese outbreak had an
unfavOrable effect, was generally over
come. Prices then broke with some vfo-
lence, the bear attack being directed es-
peciaIIy against Baltimore & Ohio. Con-
tinued pressure was in evidence also
against BROOK Il Transit
Baltimore * Ohio IS one OF those stocks
which has bsen most advanced in prices
on predictions of a dividend disbursement,
and whispers were current today that the
declaration of the dividend would be at
least deferred. The stock suffered 10 the
extent OF I points at the lowest level
Brooklyn Transit sold TO 10, which was
rs below Saturdays level
In sympathy with this acute weakness,
the whole market sold off, and apparent
~ the liquidation OF last week was re-
uewed in force. But the market gave evil
dence later of being oversoId. and the
their short contracts There was a gen.
eraI recovery Of the early losses. But
there was nothing like decentralization
amongst the bears, the covering move
meut being conducted in a well ordered
manner. Bulls attempted TO extend the
advance, but prices had not risen more
than fraction above last nights level,
except in Brooklyn Transit. when the
demand from the shorts diminished TO
almost nothing.
The dribble Of liquidation was sufficient
to turn prices downwards again, and tsey
We're only partly arrested at about last
nights level where the movement be-
came very irregular at the close The
principal influence in causing the doubt
full mood amongst the professional bears
vas the sharp. break in wheat The fact
that the break was largely due to techni-
cal causes and 70 pressure 70 reaLlze on
the part OF an OvereXteEded long interest
did not seem 10 lessen its effect IN spite
of the continued reports Of the damage
wrought TO crops in the Northwest The
stock market was apparently as Inucl
OversO.d as the wheat market OveFb9uSht.
and the professional realization caused
the relaxation in each
The apprehension caused by the sat
urday bank statement was also SCOT Ned
TO some extent The conviction gained
ground that the sharp decline in cash re-
serves was due TO preparation for the
Withdrawal of government deposits, ara
possibly. to the pacing Of DDS Tor 8e
New York Central stocks. which were
awarded today. to the amount Of over So
G00.Ge0. The apparent easy situation In
the money market was a source of re-
lief The opinion expressed by a dtTeGtor
of the Reichsbank, in an Associated
Press dispatch from Berlin, was a potent
influence IN relieving uneastness regard
ing the situation IN Bsrlin. The opinion
expressed By this director that a reduc-
ton in the German bank discount could
be made were not the senli-annual set
tIement at hand. and his assertion that
the settlement was locked TO with con-
fdence, Joined TO the further relapse IN
foreign exchange rates here today serve
20 reassure HE market that no further
drain on New X0rkts gold reserve Will
be required to r4yseve the foreign money
markets.
Bonds were not very active and price
changes were irregular. Total sales, par
value, 81, 195 coo. United States Is and new
Is declined a in the bid price.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co. members of the New York Stock ex-
change, Pioneer Press building, who have
direct wires to Chicago and New York
Closing prices are bid: