The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-26
STOCKS SACCED SOMEWHAT
BEAR ELEMENT TESTED MAR
KET AT VARIOUS POINTS
Issuance of the Presidents Call for
$4,000 More Volunteers Made Use
of in the Afternoon Raid on
Prices-BOttling Up of the SPAN
ish Fleet Considered the Next
Rest Thing to an Actual Victory.

NEW YORK, May 25.-It was a day of
maneuvering for position between the op-
posing elements on the stock exchange. The
pea, element took heart of grace and tested
the markets at various points with view
70 d.siodg1ng some of the stocks which were
bought yesterday in the excitement over sup
posed victory in Cuban waters.
The complete discrediting Of yesterdays
Hood Of rumors made the market seem very
cans in London added to this appearance and
there was selling for London account in the
early dealings in pace of the rather urgent
buying, which was a feature of yester day
on the London exchange apparently ended the
demand, which was attributed to large out
action did not go far and was checked by the
vigorous support and stimulated rise of a
number OF the leading specsalties, including
Manhattan and Metropolitan Street Railway
on revived rumors of consolidation.
Sugar, Peoples Gas and N. j. Central were
also strong and sustained the market and a
little later Third Avenue joined the local
traction stocks with jump of points. Nest
OF the Vanderbilt stocks developed strength
after buying of New York Central had lifted
its price. to 11712 A number of trunk lines
and coalers shared in the strength. But
the railroad list as a Whole continued very
sluggish and did not respond readily to the I'M
petus which 1t was sought to impart by this
The demand proved light and prices
dropped The bears were thus encouraged to
use more vigorous means to bring about a
specalties with the view to uncoverlng stop
loss orders. This they succeeded in doing
in Metropolitan Street Railway, Tobacco and
one or two other specialties. Declines in
those stocks ranged from to 4 points and in
some railways extended to point. No gen
erai liquidation was induced, however, and
there was some covering at the close, go
that the market rallied and closed firm.
Manhattan showed good resistance and re-
tanned good part Of Its advance.
In the railroad list some of the Vanderbilts
and the coalers Closed higher. mes ia
Iron Third Avenue and Great Northern pfd
continued to show conspicuous strength.
Otherwise net losses were the rule.
From a speculative point of view the boil
ing up of the Spanish feet in Santiago seems
to be considered the next best thing to the
defeat of the fleet in battle.
The issuance Of the presidents cal for 75,
GOO more volunteers was made some use OF by
the bears in their afternoon raid.
There was not much doing in the bond mar
ket, but prices were firmly held. Total SAILS,
81, 400, 0e0. U. S. cid tours registered advanced
a and do coup / per cent in the bid prce.
The tours were bid up Is, but declined
again.
Total sales of stocks today were 3706O0
shares, including 9,075 Atchison pfd, 1920
Burlington, 1920 L. & N. 1921. N. Y. C..
1880 Northern Pacific II 1886 do pfd II 1870 R..
l., 81, $3.50 st. Paul. $40 Southern psd, 1880
U. P. pfd, 4,53O Wabash pfd, So 2S2 Tobacco,
$3.50 Chicago Great Western, 1892 Peoples
Gas, 21,359 Sugar, 1O,95O Leather pfd.
leading railway and industrial shares fur
nished by C. H. r. Smith Co., members
New York stock exchange and Chicago board
nj trade.