The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-18

NEW YORK. June 17.-Today's OPERA
lions in stocks We're made up almost
wholly OF professional operations of a
testing character. These seemed to dem
onStrate to the satisfaction of the testers
lfat STOCK for sale was to be met on ad-
VanceS and that the offering down of
PflceS did not promise large success in
dlslodging selling orders. The conse-
quence was progressive dullness in the
tradlng and sluggishness in fuctuatio
This agrees with the general exnecta-
tl0h or the most experienced observers
VINO saw in the sudden rally of last
thursday the natural course following a
cuImlnatlon of the long decline and Ieay-
ing large short interest uncovered after
the urgent liquidation had been com
pIeted With the satisfaction of this short
b fmuereS res prices matted and then declined
put without getting back to the low level
OF last Wednesday, although they were
near 1t yesterday morning. The failure
y! the pears TO get prices below the pre-
NlouS low record yesterday saved the mar
ket from renewal of forced liquidation
on account OF exhausted margins and I'M
covered stop-loss orders. which had been
pretty We'll wiped off brokers accounts bv
the previous lower prices
capital for Professionals.
Ajter THESE various fluctuations the
. niarket naturally falls into period Of fee
oIe and hesitating movement on the on
eratlons by room traders while awaiting
a new development in the general situa-
tlon In their attempts to move Drices
the professional operators made canitaI
Inls morning of the expectation that gold
t Would De engaged for export to Germany
fI6ino ar Actual inquiry was made at
b Inc ASSAY office by one interna tional
mousse looking to a shipment of gold as
me strength of foreign excha e here
b oilu rhf zee aecllne In sterling at Berlin
pIoushI the operation closely within the
range OF profit. Some selling of stocks
thlS morning for London account hera
f duueq 10 the requirement. for exchange,
put London turned buyer Of stocks later
In the day. ''oi
:, On the upturn Pennsylvania was mada
U T1le Eager OF the market, and the market
was lHIed at one time more than two
p0hts The movement in the stock seem
ed 70 De due to organized efforts and was
aaitlIlouted to the rate at which subscrip-
lions are being made by Stockholders for
the new stock 1t is reported that in
many cases stockholders are paving Their
SUBSCRIPTIONS SIl;SH in full, although the re-
30 per cent installment. and the +;r,n fo a
It's payment extends to June 81. The set
Ii.ement OF the membership of the anthra-
LIZ cO?ncl1latlon board also helped Penn
Reading iioO@oly
Reaction in Grain Favorable.
co "a neactlonary tendency in the grain and
was especially effective in Atchison. Mis-
sour racine statement of net earnings for
apfid, showing an increase of some "a
per cent over those of the preceding Anri1
helped the Southwesterns The bidding m
q WapaSh was based on rumors that the
SouId-PennSyIvania interests had hean
l nsaHr M but the abrupt relapse in the
STOCK gave the rise an appearance of man
1pulatlon Colorado Fuel and its convert
pie bonds suffered violent declines and
only partial rallies on account of of1liga =
d dlons 3 falling due, officially explained as
que 70 a MISUNDERSTANDING Realizing DIR
ing the last hour completely Wines u oI,+
t ene DAYS gains except for a point saved
Ior pennsylvania and the closing was life
less and heavy. was me-
The movement of bonds was irrao,,1or
IN sympathy with stocks Total sales mar
value. ~, 900. United States IS coupon
advanced n per cent on the last cali.
Closing Lat.