The evening times., 1899-04-08

The stock market today showed very
clearly that the effects of the tremendous
break Of yesterday is not yet over. The
public was bitten hard by the break and
is disposed. TO realize, on any slight ad
vance. The professional operators seemed
disposed 10 take advantage of this fact i'll
the trading today. The opening showed
some weakness with declines all over the
list but especially in the industrials and
other specialties that were the particular
objects of attack yesterday. This condi-
ton continued until shortly fore III bank
statement appeared. with occasional peri
DDS of strength, \ buying movement set
in at half past II. which was continued for
several minutes after the statement came
out. and proved TO be harmless though
not particularly inspiriting. Prices reach
ed the highest level for the day at about
a quarter TO Il o'clock. On this bulge
there was heavy realizing. which sent the
level off from half point 10 two points.
In the last five minutes of the day there
was another slight rally. SO that the net
losses for the day were small. II is the
unplea SAINT truth how ever. that prices were
not higher at the close than they were yes
terday, which many had hoped for. Ii is
difficult to foretell what will be the COM
plexion of the market next week. but the
close today suggests that it may not be
d uutCh ItNNal SNSh "a 'hN'N - 'o '--
ther decline.
The bank statement figures follow: Re
serves decreased, s416, 600: loans decreased
$I241. 100: specie increased $500; legals
decreased s1,472, 800; deposites decreased
50. .952, 500; circulation increased $5S.30o.
The sharp scrutiny of collateral and the
unwillingness of the banks 10 loan money
during the week is reflected in the loan
which ig a decrease for the first
time in several weeks.
The Flower stocks cannot be said to
have been strong today despite the fact
that careful observers of the market who
are believed to be close to Mr.. Flower pre-
dicted that he would support them. Brook
lyn Rapid Transit after opening weak had
a good advance in the last hour to better
than yesterdays close. There was de-
cline in the last quarter OF an hour OF
the day. Peoples Gas also went up sew
eral points on what seemed to be good buy
ing. but lost large part Of its advance in
the last few minutes. The Street stocks
were weak at all times, especially the COM
mon which closed three points or more
lower than the close yesterday and only
two points above the lowest level of the
slump. The preferred stock opened at 81,
dropped to 81 and fraction, reacted to
S5 and then closed at S4. Rock Island was
weak closing below yesterdays close.
Manhattan followed the course of Brook
lyn all day with a weak opening, a later
rally to above lis and slump at the close
to 116 1-2. People who expected to see a
quick recovery in this stock after the break
were much disappointed by its action to-
day, which was not in any way inspiring.
1t seems probable that the stock may re-
fuse to advance for several days to any
thing like its old high level. The public
is apparently pretty thoroughly sick of the
erratic manner in which it has advanced
and declined 10 and 20 points at time in
the last two months. II is realized that
ordinary margins are of no avail with such
stock.