The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-16
FLOWERS STAND FIRM
Barrels ofMoney Waiting For
the Timid Holders.
CLOSE IN THESE HIGHER
But Below the Best Net Gains
the Rule Elsewhere.

New York; May 15.-Opening quotations
in the stock market were a vigorous notice
served on all parties that ample capital
was forthcoming to take UP all offerings
which timid holders of the so-called Flow
er stocks choose to offer and also 20 the
bears that peworfuI weapons wewre in
hand to rosist any onslaught by them.
The different members Of the Flower
group were opened up l to points above
Saturdays close, the fovarites Of the late
financial dealer, Brooklyn Rapir Transit
and Peoples Gas, leading the rise. New
/ York Air Brake, in its usual volatile
manner, made an exceptional rise OF Il
points in the first few minutes. These ag-
gressive tactics served 70 dissipate any
uneasiness in the speculative mind re-
n1airing after the violent fluctuations in
Saturdays market. Early quotations
from London also made it evident that
there were large reserves of capital pre-
pared 10 take advantage of any further
sympathetic declines in the general list
Of securities. The buying there before
the opening hour was not only for New
York account, presumably with a purpose
Of supporting values, but also on orders
from Scotland, Germany and Holland, as
well as a local English demand. The
high opening here, especially in the Flow
er stocks, invited considerable volume
of offerings, but they were absorbed
without the slightest hesitation and in
short time they materially decreased. The
pressure Of liquidation being relieved, the
vigOr Of the efforts at support was some
what relaxed Prices having failed TO
break, the bargain hunters were deferred
from buying and the market fell into
quiet state. A brisk upward movement IN
Sugar to 1545s, and a lively demand for
the Pacific and teh Changers caused a
general stiffening again throughout the
list. But the smallness of the transac-
tons discouraged a continuance Of the
bull speculation and the market fell back
into comparative inactivity. The move
ment Of prices became decidedly iTegu-
lar, some of the obscure specsalties fiuc-
tuating quite widely but in the contrary
direction. This was notably the case
amongst the iron and steel stocks, Ten
nessee Coal Colorado Fuel and Iron and
National Steel preferred being notably
weak American Smelling and the Coal
ers were also consistently weak. This
tendency and the apparent withdrawal Of
supporting orders invited a raid by the
bears later in the day, directed particu-
larly against Metropolitan Streeq Railway,
which was raided down points. The
Changers and Pacific also suffered in the
decline, except Central and Southern Pa
cifiic, which We're consistently strong.
Metropolitan Street Railway rallied very
strongly points, the local traction shares
responding in sympathy. The bean trad
ers covered, making the closing firm. The
conspicuous changes were in the Flower
stocks, which all closed higher, though
below the best of the day. Otherwise
changes in the prominent stocks were not
large, net gains predominating.
The total sales of stocks today amont to
5f2, 306 shares. including: American Smelt-
ing, 800; American Steel and Wire, .. 200:
American Sugar, $4,000; American Tobacco
$500; Anaconda 4,300; Atchison, 1900; At
Gibson preferred. $4,000; Burlington and
Quincy. 800; Brooklyn Rapid Transit,
1890; Central preferred, 500; Chicago,
Burlington and Quincy Rights, $500; Chi
cage Consolidated Traction, 1900; Chicago
Terminal Traction preferred, 400; Con-
tinental Tobacco, 9.700; Federal Steel,
.. 500; Federal Steel preferred, Il, 400; IN
ternadonal Paper, 800; Louisville and
Nashville, 900; Manhattan, 1900; Met
ropolitan Street Railway, 800; Missouri
Pacific, 1900; National Steel, AGO; New
York Central, 400; New Jersey Central
Rights, 500; North American, 4o00;
Northern Pacific, u 100; Northern Pacific
preferred, 400; Ontario and Western,
AGO; Pennsylvania, $3.50; Peoples Gas,
p 500; Reading first preferred 1s, 500; Rock
Island, $500; St. Paul, %, 500; Southern
Pacific, $500; Southern Railway, $500;
preferred. $500; Tennessee Coal and Iron,
$500; Union Pac:1s 800; Union Pacific
preferred. s,5oo; tSited States Rubber.
800