New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-24
WHAT WAS DONE IN STOCKS.

Thursday, May 21-p m.
To-day's dealings in stocks moro fully than thes'
OF preceding days have demonstrated q broader
market. For three successive days the tnusac-
tons in listed stocks have run from 900 20
81, 900 shares, and to-day the sales aggregated
4Gg, go shares TO-days advances were general
TO tho whole active list, instead Of MS heretofore
has been the case, some one " two stocks being
prominent IN the days advance while the remain
der held their previous advances But So. Paul
stock was the lending feature OF the market, be-
cause some Of the shorts In IL took fright nv
the continued buying Of It by those who knew
wherefore they had bought H. We have heard
good deal about pools IN the St Paul stock and 1t
has generally been supposed that the stock pur-
chased by such imaginary pools NJ about h6nG1
would come out again at 20 or Whereabouts. At
the mompnt the dealers between London and New
York are short in the market about "a, 600
shares and long in London for the settlement
the came amount. Yesterdays movement IN 81.
Paul led some OF these dealers TO fear that lock-
ing up Of this stock WAS intended here, and they
began 20 purchase regular stock and put out up
tiOns at twenty days ~ lal IL per cent difference"
However, with this additional impetus the trading
In the stock aggregated lle loo shares, and the
price rose from 20 TO ~. The home short IN
tercst and H. is large, was less disturbed by the
early advance, but began 20 look uskancc rs they
discovered there was no reaction The steady md
continued absorption Of stock by Europa and by
home buyers during the one year of depression
has left the market so bare that u sustained three
days buying by those who Ouc year ago sold ont
develops the fact that there j. scarcity Of stocks
either 30 supply the shorts speculative, not
trading, buying; TINT is the matter with
the market, and that is oil there is thC
matter with it, For n year or NOR spectators
have been sowing 10 the wInd-shhll they reap
the whirlwind?
A. the beginning OF business nothing was
heard except about reaction; that there NUT be
one was the universal opinion rs II WIS expressed
A temporary weakening II figures declines Of snai
frACtiOns-SOOn after the opening gave further
expression that opinion The bold sellers,
howe YER SOC learned that their sales were ~
drops In an ocean that, rcnction or no reaction.
the recent buyers WIRE not going 10 cOntrbut" any
OF their stocks From that time our the whole
market improved up TO the close Where the i'm
prOyements were the greatest them were buyers
for the short account rs well rs for the long
account. There II scarcely an active stock on
the whole lst that doc, not have u short in
tPrcSt OF sufficient importance 70 lend its influence
TO further rapid advances. But this market il
not made up Of pools formed "a chnin shorts ,
IL j. based on the revolution in railway manage
mcnt which has been forced upon the mana ge-
ments; idea that managers nrP placed I'm
charge % run roads NJ profits and not NJ losses
as done during all the year Of 1898 II is
folly for manage 20 refer 90 the schedules made
State schedules been rs low aS the mnnTEcrs
voluntarily made them AZ one time during list
year
The market closed strong At nearly the best
prices.
THE DAY IN TIE BOND MARKET
Government bonds were neglected. Final quo
I -. ell