New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-25
BONDS.
THE DAYS OPERATIONS IN STOCKS.

rho .,ooL market was intensely dull with
daal figures again showing small net losses III
the early dealings the general list held firm the
on1v noteworthy exceptions being furnished by
so,oa ~ The new industrial issues. including
uadara, Stae, American Steel and Wire Ma
,,onal steel Tin Plate and American Hoop Sc
curities Liquidation in these stocks apparently
came from one speculative quarter, ana as 1ar
as could be learned the selling did not repre-
sent any change in conditions affecting the COM
,,o,,es concerned. or sales by the interests most
actively identified with the iron and steel ousi-
ress insiders in the steel and iron stocks who
wished 10 sell did so when market values were
Of their recent high level. and 1t is not likely
that thew will now part with any Of their hold
,nes on a declining market. Sugar Refining was
the most active feature on the list al net
loss Of 1% per cent, made after an advance OF
o nor cent 10 100 The efforts making TO per-
suode the Street that the sugar trade war is
raecbinp a settlement have fallen extremely
fat for II is generally known that the trusts
,oos. ironortant rival is too rich to be forceo
into a settlement and that as IT is nrih
rather than a corporation, and does not nave 10
nav dividends it stand hght WIN 'he
Sugar Trust without the worry over oiVloenus
that must Of necessity trouble the last-nafheu
concern. II the Sugar Refining Company sue
ceeded in buying off the outside renners ne"
oovora,ition would certainly develop just for the
sake of being bought out by the trust Inc
sugar conpany is apparently between the devil
and the deep sea- and its prospects for I'M
mediate relief do not seem brilliant
In the last hour the professional element sou
stocks throughout the list, but the ueclheo
brought about were not important some Oh .iie
,arger onerators. who bought stocks at the de-
order TO support the market have doubtless sold
aa~,o y, tbeir holdings In the last few days.
merely TO tighten loads that were taken a' d
time when II was absolutely necessary to buy
On as IN prevent complete decentralization. Inc
process OF digestion following a market such
as that witnessed on May IS cannot be accom-
phsAed in a day, but. barring real ADVERSE de-
s-veopments IL would seem as II values hao
about approached a position of equilibrium at
which normal conditions should begin 10 exert
b. their proper influence. With outside FACTORS
favorable at a time when market values are
as a rule. under actual worth, and with weak
holdings eliminated. the short side or specuia-
ton cannot be successful for any length or time
The granger stocks showed considerable hrm-
ness yesterday in spite of bear activity. due IN
great measure TO the splendid showing maze by
the St Paul company for the third week in
May When it is remembered that at this time
a year ago the grain traffic was enormous I'M
der the influence of the Letter speculation, and
that for the third week the roads entering chi
cago carried over 100000 bushels Of grain
against 100000 bushels for the same week
this year, it readily will be seen that st. PauFs
current unsurpassed earnings are most sgnln-
cant as reflection Of the heavy railway trafhc
OF products other than agricultural due to gen.
eral business prosperity.