The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-27
MARKET OPENED WITH CON-
TINUANCE OF THE STRENGTH
SHOWN PREVIOUS DAY
BUYING ORDERS PLENTIFUL
to BE BuIIish on American Secur-
ities-COnsOlidated Gas Had an
Unsettling Effect Upon the Mar
ket-There Was a Final Break In
Many OF the SpeciaIties.

NEW YORK, May 26-The market
opened with continuance of the forward
movement which was in force yester-
day. Yesterdays sharp advanc, brought
III moderate volume of buying orders
to the commission houses, which was
put In at the opening. There seems to
have been, also, considerable enthusiasm
III the American department of the Lon
don market by the same cause. The in
ternational stocks were bid up there be-
fore the opening here, and the arbitrage
brokers promptly bid them up to & par
ity here 1t soon became apparent, how
ever, that the bull party were no more
prepared to make extensive commitments
on the eve of a holiday than the bears,
and the activity soon came to a stand
still. The feverish and cratic tendency
of Consolidated Gas helped to unsettle
the market. The sudden drop was sup
posed by outsiders to indicate some new
possibility in the franchise tax law and
other stocks in the same group fell away
In sympathy. When the announcement
was made of the action of the gas direct
ors in reducing the quarterly dividend
rate from per cent to IL per cent, there
was some recovery in the stocks of other
New York municipal corpora TONS
AS rule, the prominent high priced
specialties were weak. Sugar was a con-
spicuous sufferer or reduction in the
another stage of the war OF sugar pro-
ducers and effectually demolished the re-
Gently current reports of an agreement
upon which the stock had advanced The
extreme decline in Gas was 10 points,
and 1T closed only q quarter above that
Sugar lost points, but rallied 8 and
crossed with net loss of ga. Both Amer
lean and Continental Tobacco, American
Steel & Wire, Anaconda and American
inf Of
haitian, Brooklyn Transit and Metropoli-
tan street railway recovered large part
or their losses. When the selling move
ment had spent its force in the afternoon,
heavy buying orders appeared Tor Atch-
ison preferred and St Paul, which wiped
out for the most part the few slight losses
In the railroad list.
The market eased off slightly with the
final break in specialties, but many rail-
roads scored net gains on the Gay. 1t
was expected that Tile demand for loans
winch are made to carry over to Wednes-
day, would stiffen the money market
but no such result was perceptible there
Sterling exchange maintained it's easy
tone under the influence of London buy
ing stocks, in spite of the demand for
transmission by Saturdays outgoing
steamers
The market for bonds continued reIal
lively more active and stronger than for
stocks, number of new high record
prices being made. Prices yielded at
some points in The list, with the break
in stocks, and made the days changes
mixed. Total sales, par value, 81. 362; 600
United Statse IS reg advanced "a and
the old As coup. 4 in the bid price, while
the IS coup. and the IS declined H.
STOCKS.
Furnished by Charles H. F. Smith &
Co., members of the New York stock ex-
change, Pioneer Press building, who have
special wires to Chicago and New York.
Closing prices. are bid