The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-05-25
THE WORLDS MARKETS
Daily Record Of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest Of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review Of Trade.

New York, May 24-Prices of stocks
drifted to a lower level to-day in the
uncertain manner which is characteristic
OF dull and undecided market. The dull
ness of the market is entirely normal for
this time OF year when the fate. of the
coming crops on which so much depends
Is still In the balance. On the present
conditions the market still has several UNI
favorable factors to contend with. In the
first place there Is evidently hanging over
1t some of the large holdings that were
taken on for the purpose of averting a
panic and which are offered for realizing
purposes. In to-day's market also 1t was
rather obvious that some of the newly
floated industrials were not having an
easy time. This was especially true for
the various 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 actively
affected and in the late dealings Federal
Steel and Colorado Fuel also succumbed
to attacks. The continued heaviness Of
Anralgamated Copper In the outside mar
ket also gave evidence of the satiated
state Of the public demand for new in
dustrial securities. Added to the incidents
of weakness continued fears that the
coming crop would turn out badly and
the bears had a good field for operations.
There was very little resistance offered to
their manipulation, but the operations
were not very bold and not on very
large scale. The early strength in Sugar
~ Infn h hat IA
feature Of the foreign wheat market af-
ter the recent holiday. to be impressed
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 and the rally in wheat encouraged
a late attack on the market, which was
directed principally against the so-called
Gould Southwesterns and Brooklyn Tran
sit 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 COW
ering 3h points, closed 1Rc lower. The
tobacco stocks and Anaconda were also
notably weak, the latter of London sell
ing, accompanied by further decline in
the price of copper. Air Brake lost III
points. The demand for railroad bonds
continued active and the market was
strong, many of the reorganization 4-per
cents continuing to make new records.
F, New issues which are in course of dis
posal by underwriting syndicates and sec
ond grade bonds are about all that have
not been put at prohibitive prices. Total
sales. par value, $2.790.00o.4 ,Rgye
There is a good investment demand for
government bonds. which are at record
prices The IS and IS and the old as reg
istered advanced &c in the bid price.