Omaha daily bee., 1896-05-24
yoIuue of business in Securities Was
Only Moderate.

OnIN
NEW YORK, May 23.-Although the volume
or business in stocks today was only moderate
the market displayed considerable strength. NO
assistance in shaping the course OF prices was
received from London, owing to the close OF the
observance Of the Whitsuntide holidays. M%l-
hoy will also be a holiday at that center.
While the usual covering movement, incidental
tn Saturday. accounted chiefly for the frmness OF
tone, some mod rate commission house purchases
we're also noted. The industrials, as a group.
were the features, in point OF activity and exteat
Of nuctuation. but the greatest aggresslNeness
mas displaytd by Manhattan. The decision Of
he supreme court against the constitutionality
OF the rapid transit act has caused a decided re
ya,eaI nT sentiment regarding the stock, particu-
InrIy as the financial community at large had
not expected any such action. The STOCK was
hn,rht for both accounts, causing an advance
~ ~ 81 per cent to 1914. General Electric was
favIrabiy affected by the decision, also as the
prospects of a remnneLaive Sontra lev VIII area tIy
nhIie Widening Of tn scope of the company's
nnne ms Mm is also current. The result was an
advance OF 2s per cent. Consolidated Gas and
| the Cordage shares sim ned sharply and higher
critics aside from l.aClede Gas. which broke ~
per cent on liquidation by holders, tired OF ne
company's charter. Realization Of profits was
partly responsible for the decline, The gransers'
louisville a. Nashville and southwestern pre-
| f-rred. absorbed the limited interest In the regu-
lar railway list and made general progress" TO-
is per cent. but did not retain the full improve
mint. Cleveland, Cincinnati, Chicago d ST. Louis
jumped IN PEI N'iN WI ''b'' ''''''H| 1900 -
Southwestern gained important fractions. Ihe
| closing was irregular at general fractional I'M
The course Of prices during the week has bsen
irregular, and the sp culatiye movement OF mar
row proportions. The professional dealers con,
tinue to make the fluctuations, being comp HE'D
10 dllate to the extremity Of tediousness uppr
The political possibilities in tn absence Of imne'
date germane considerations. The gold with
| drawals were utilized as n speculative hrgu'
| n"'1sienments feli short Of the outflow Of the
previous week, some uneaslness is manifested
over the d,cr"asing S gold I bs, ,T'f tbror ntS. , ,5.S a rNt'
toward the close the mark I displayed stirlEli
and advanced TO- III tor Long S nds ana tfops care o} :
Considerable ailux OF the yellow metal the com
ing week are gen raj, Foreisn operations WEE
short account, except in Northern Pacific Issues
round amounts Of those cecurities being takeT
a nI bIacR marketed in London by j. i, Morgan
There was a dcarth Of news having II genera
bearlag upon the market, aside from the crol
reports. which were, in the main, satisfactory.
reports from all the large milling and farm
ing interests NJ thu northwest point 10 a reduced
acreage OF wheat and an unfaNoialle season nj
to date. but the advices received by the lnrg'
rate, have induced them to sell, on the theor!
nf a large crop Of spring wheat and more lhhi
an average crop Of winter wheat. Corn has no
started to move to any noteworthy extent, hu
there il believed TO be every indication of a dc
thirty DAYS. The market generally display d
more decided tone in the closing dealings an
advances in prices We're maae especial moSe
strong manipulation. The speculation IN TN
group was the ( allure Of the market with susu
regarding it's old time prominence. The stuc
ran on ~ per cent early. TO 100, but wa
taken vigorously in hand ana rose to 10, S Ssn
gain Of Il. per cent, after an early advance I
The Rubber shares were favorably affect a b
the reconciliatioA among leading interests, pre-
Guiding a contest al the annual meeting early !
several q rallies ana reactions occurred until nea
the close. when a rise to lo7a took place on III