The Birmingham age-herald., 1902-06-19
AGGRESSIVE ARE
 THE BULL LEADERS Market Broadened and There Was Increase in Activity. STRENGTH DISSEMINATED Distress of Shorts in the Corn Market Seemed to Give Added Effect to
 the Demonstration in the
 Stock Exchange.

New York. June 1s.-Leaders of the bull campaign in stocks made a more aggres- sive demonstration today than at any time since the campaign was inaugurat- ed. The market broadened and there was a material increase in activity. the vol ume of dealings rising over that for any one day since some time before the trst of the present month. The strength in the market wss pretty generally disseminated through the railroad list, but the lndus- trial department as a whole was con spicuous exception to the strength pre- vailing elsewhere. There was little news to account for the rising tendency. The bulk of the operations was attributed to the western speculative rarty, which was credited yesterday with having se- cured a corner on the July option in corn.
 The distress of the shorts In the corn market this morning seemed to give added effect to the demonstration in the stock market, but the sharp reaction later in corn did not alter materially the tone Of the stock market. The news of the day was rather adverse to the rise in stocks. For instance, the calling of a national
 
 must be regarded as increasing the prob abilities of a suspension of work among soft coal miners On what principle this news should induce an active demand for Reading and also for the eoft coal car riers, is not very clear. In fact. realizing made itself effective in Reading, and wiped out all its gain.
 The report of too ccpious rains in the southwest, except in a portion of Texas -w,1,, dad NO h. difficult to account for the strength of the southwestern grangers. Nevertheless Mis- souri Pacific was absorbed on an enor- mCus scale. The Gould railroad stocks were affected ir sympathy. and especially St. Louis Southwestern preferred which rose 4ss. The improvement in the strategic position of tbe Gould system and the gen eral belief in the coming formation or a central holding company, was a persist Ing influence in those stocks. The deal lngs in Union Pacific were also well up 10 the total of other leaders. The most influential movement in the market was that ir Illinois Central which was lifted m extreme Of points with constantly in- rreasing urgency as the top level was approached. The stock reacted points at the last. I he fact that the board of direc- tors were in session gave rise to flood of rumors of an important announce mont to be made affecting the value of the st ock, but the market closed without definite knowledge of what the news was to be-.
 The situation in the local money mar ket was unchanged, but the tcne of sterling ond continental exchange con- tlnued very firm. ard there was no recov- cry in sterling at Paris, where also the private rate of discount advanced. Money was easier ir London, but higher rates arc looked for there before the end Of the month, owing to a semi-annual re- qujrement. The depression of industrials today were in marked contrast to the strength of railroads. The drlbbling liqui- dation in the United States Steel stocks continued, and sugar was weak on the tasis that no action or Cuban reciprocity will be taken at this sessIon Of Congress. I he market closed active and rather easy. The market for bonds was spotty and irregular. Total sales, par value, s4,- t100OO United States 2s, registered, and the old 4s advanced E. the 3s, A; and the 4c, coupon, B per cent on the last call