Omaha daily bee., 1899-05-27
BRADsTREEr's FINANCIAL REVIEW
Weeks Trading opens Dull, hut
BrIRhtens Up Toward the End.

Weeks Trading opens Dull, hut
BriRhtens Up Toward the End.
NEW YORK May 26.-Bradstreet's re-
view OF the stock market tomorrow will say:
A dull and heavy tone prevailed during
the early part of the week. Support was
given to the share market by large fnan-
cial interests, but this manipulation was
not sufficient to overcome the effects Of
liquidation OF public speculative holdings.
Industrial stocks were particularly affected
by this tendency and on Wednesday the de-
clines in a number of the newer securities
of that class became rather pronounced and
encouraged bear operators to attack the
general stock list The strength OF the
railroad bond market was a feature, but
neither that nor the steadiness OF some
OF the prime dividend paying railroad shares
seemed to have any effect on stocks, in
which quotations have been inflated, or
which are widely distributed among the
speculative public. on Thursday, however
the market rallied and the bear interests
covered short contracts to an extent sutil-
cient to cause some OF the earlier declines
to be regained.
The fact that the Stock exchange market
will be closed on Monday, as well as for the
legal holiday of the succeeding day, tended
to induce caution on the part Of the newly
formed short interest among the profession
ais and the support given by powerful
houses to various speciaties arso seemed
to have some weight. Another circumstance
which appeared to contribute to this end
was the passage at the extra session of
the New York legislature OF the amended
franchise tax law
The unfavorable reports as to crop con-
dtlons were used with some effect upon the
granger and southwestern stocks, but it was
noticed that the groups in question partici
pated in Thursdays recovery in the face
of a further advance in the price of wheat,
and on Friday Atchison preferred was con-
spicuously and exceptionally strong. Little
apparent response was given by the stock
market to the completion of payments on
Monday for the balance of the amalaga
mated copper subscriptions, with hardly a
ripple in the money market, although on
Tuesday the balances at the New York
clearing house, amounting to over $10OOO,
0O0 were the largest on record.
The excellent bank statement of last Sat
urday, with a gain of over $7000,000 in the
surplus reserve, also fell fiat at first but
coming in the face OF the demand for bonds
and on the general speculative situation,
may be ascribed to the of money,
which was feature in the latter part of
the week. London took little part in the
proceedings here at first, the market on the
other side being dominated by the usuar
Whtsuntide holidays. At their conclusion
there was, however, some foreign buying,
particularly in Atchison preferred and Ana
conda shares.
Foreign exchange also presented renewed
evidence Of weakness in the latter part of
the week, largely in consequence of this
foreign buying OF securities. The market
as a whole continues to show that the pub
lie interest in speculation has been decid-
edly checked. Commission house business
was far more active and the disposition to
liquidate speculative holdings asserted it
self in the face of evident efforts to support
prices, while, as was natural under the cir
traders have shown
much greater activity than for some time