The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-04-28
THE MARKETS.
Wall Street Review.
BY Carrington g. Cusack.

New York, April 27.-The opening was
strong Brooklyn Rapid Transit being
up inside buying and the strength of Sill
yer caused the advance In Mexican Gem
tral and Denver preferred. The coal
stocks were all strong on covering by
shorts put out late yesterday afternoon.
After the opening some free liquidation
was encountered and encouraged by a
sharp break in ANACONDA, the bears at
tackled the list selling specialties OF mod
erately, and affecting the railroad securi-
ties to some extent. Around IL O'Clock
there was a slight advance In the Grang-
ers. which started covering throughout
the list and which turned the market to-
ward higher prices. Flower brokers were
free buyers of Federal Steel common and
of Brooklyn Rapid Transit and the trad
ers on the board followed their lead
causing an advance to about the high
prices of the morning. Air Brake was
particularly strong al the early session
of the completion of the case against the
WcStnghOuS company ana on buying
by insiders who feel Nry confident that
the outcome of the suit will be satisfac-
tory TO the Air Brake people. Manhattan
Beach took n severe drop from So to 27
in a short time. due to the already pub
Mshed denialS in regard to the reports
of a bid for control from the Brooklyn
Rapid Transit people The whole move
ment looks like a very cleVerly engineered
scoop and insiders seem to have turned
their speCialtcS over on a nice profit.
While the market Is still very profess
slOnal and duh except I'm specialtics 1t
is undoubtedly q bull market and the
next decided movement will i've upwards.
There was continuance of the unfavor-
able crop adViceS from Kansas which
causel sharp rally in wheat in Chicgo,
but which was ignored in our market. AS
matetr of fact, what Flower says has
more influence on prices than what the
real conditions may be, and in conSe-
quence the market was favCrably affected
in the early part of the day by his bullish
utterances on Federal Steel and Brook
lyn Rapid Transit In the late afternoon
there were renewed liquidation for profits
and the market closed distinctly weak at
about the lowest prices of the day.
BY Associated Press.
New York, April 27.-Stccks opened up
this morning and after moderate tuc-
tuatlons either way slid off below yester-
days prices. There were advices of
crop damage, sterling exchange was
strong at higher figures ard call money
was at the legal ate, per cent. in the af-
tcrnOOn, all of which combined to send
prices off with a rush and the market
closed weak under pressure. The demand
for money was incidental to the prepa-
rations of corporations to meet May dis
bursements and then there was q dis
position among traders to anticipate =
possible squeeze in call money tomorrow,
when loans carry over to Monday. There
was moderate arbitrage buying for Lon
don account carly and the traders also
were prominent buyers but the diminish
ing commission house business prompted
them to switch their position and sell FOR
a turn. The trading in a half million
shares was practically all for professional
operators. Silver certificates, represent
ing 100000 ounces, changed hands at from
62l4 to GiA cents, the latter being the
highest hSure in over two years. The
bun speculation in silver as well as divi-
dend gossip impaired strength to Denver
and Rio Grande issues. Anaconda Min
ing had over 3 points knocked Off from
its recent advance on liquidation In
duced by the denial of large interest
that the proposed copper trust" had
control of the property. Manhattan
dropped points with little recovery on
stop loss orders being reached. New York
Air Brake sold up IL points, the greater
part of which IL held on the approach of
the judicial decision which friends of the
property hope will be favorable. Della
ware, Lackawarna ard Western recov-
cred from yesterdays depression which
was connected with rumors of impending
labor difficulties. The heaviness of the
market was eCCentuated by free selling
of Brooklyn Transit and Sugar although
an earlier rise in Sugar was on an in
tangible rumOr that the company would
offer rights to subscribe for a new issue
of stock at part to be used in connection
with some deal with rival interests. To-
| tai sales, $40, 400 shares. Further improve
mcnts We're made in all. the standard
| railway mortgages today and some new
| fluctuations We're also taken at improved
| figures. Total sales H.l95,0O0 United
| States registered declined "a and do.
| coupon the new 4s coupon and the 5s,
! Is in the bid price.
| Quotations furnished by LABAR &
| FULLER, stock, grain and cotton prok-
| FRS, rooms 200 and 2lO Board OF Trade
building, Scranton Pa