The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-05-25

| balance. 1t was this normal dullness
which the bull party attempted to defy
early in the month, when the death of
Mr.. Flower upset all their calculations
and threw upon them the burden of
large buying to check a panic. Now
that the market has settled into it's
normal quiet, it has several unfavora-
BILE factors to contend with. There is
| evidently hanging over the market still
some of the large holdings that were
taken on for the purpose Of checking
the panic and which are offered for real
| izing purposes at a certain point in any
advance.
In to-day's market also it was rather
obvious that some Of the newly hoated
industrials We're not having an easy
time. This was especially true of the
variuos companies which were to have
been aggregated in the projected great
steel combination, the plan for which
seems to have been materially altered.
American Hoop, Tin Plate, Steel and
Wire and National Steel were all quite
acutely affected, and in the late deal
ings Federal Steel and Colorado Fuel
also succumbed to attacks. The con-
tinued heaviness of the Amalgamated
Copper in the outside market gave evil
dence of the saturated demand of the
public for new industrial securities.
Added to these incidents Of weakness
We're the continued fears that the COM
ing crop would turn out badly, and the
bears had a good field for operations.
There was little resistance offered to
their manipulation, but their operations
were not very bold and not on very
large scale. The early strength in SUI
gar served to better them somewhat.
The failure of the foreign wheat mar
ket, after the recent holiday, to be i'm
pressed with the fears expressed in the
domestic market regarding the crops,
also had its influence in restricting the
operations of the bears. The break in
Sugar, however, and the persistent
weakness of the steel stocks encouraged
late attack on the market, which was
directed principally against the social
ed Gould Southwesterns and Brooklyn
Transit.
The whole railroad list showed the
effect of the raid, but the grangers and
Atchison preferred showed the best re-
sistance. Net losses are the rule, but in
the railroads are restricted to fractions
except for a few cases. Sugar was the
leader in point of activity and after re-
covering 31a points closed rs lower. The
Tobacco stocks and Anaconda were also
notably weak, the latter on London sell
ing, accompanied by a further decline in
the price Of copper. Air Brake lost liz
points.
The demand for railroad bonds con-
tinued active and the market was
strong, many of the reorganization 4
per cents. continuing to make new high
records. New issues which are in course
Of disposal by underwriting syndicates
and second grade bonds are about all
that have not been put at proh1bitive
prices.
There is good investment demand
for government bonds which are at rec
ord prices. The threes, the ilves and
the old tours registered advanced 1s in
the bid price to-day,
The governors of the New York stock
exchange have decided to suspend bus
mess on Monday, May 49, as well as on
Tuesday, Decoration day This means
a cessation of business from Saturday
at u O'clock until wednesday at 10
o clock