Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-05-25
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange. Bonds, Grain,
Cotton, Provisions, Etc.

New York, May 24.-Prices of stocks
drifted to u lower level to-day in the
uncertain and irregular manner which
is characteristic of u dull and unde-
cided market. The dullness OF the mar
ket is entirely normal for this time of
the year, when the fate of the coming
crops, on which so much depends, is
still in the balance. In present condi-
tons, however, the market has several
InfaVorahle factors to contend with. In
the first place there is evidently hang
Ing over it still some of the large hold
ingS that were taken on for the pur-
pose OF averting a panic, and which
nre offered for realizing purposes at Il
certain point in any advance. In to-
days market also 1T was rather OBJ
vious that some of the newly floated in
dus,rials were not having an easy
time. This was especially true of the
various companies which were to have
been aggregated in the projected steel
combination, the plan for which seems
TO have been materially altered. Amcri-
can Hoop. Tin Plate, Steel and Wire
and National Steel were all quite acute
~ fected, and in the late dealings
Federal Steel and Colorado Fuel also
succumbed to attack.
The continued heavincss of Amalga-
mated Copper in the outside market
also gave evidence of the sat
for new industrial securities. Added to
these incidents of weakness. continued
fears that the coming crop would turn
out badly and the bears had had a good
field for operations. There was very lit
tie resistance offered to their manipu-
lation. but their operations were not
very bold. and not on a very large
scale. The early strength in Sugar serv-
ed to deter them somewhat. The failure
OF the foreign wheat market. after the
~ 1nA fr,.N 4.
the fears expressed in the domestic
market regarding the crops also had it's
influence in restricting operations of
the bears.
The break in Sugar, however. and
the persistent weakness of the Steel
stocks and the rally in wheat encour-
aged late attack on the market
which was directed principally against
the so-called Gould Southwestcrns and
Brooklyn Transit. The whole railroad
list showed the effect of the raid but
the Changers and Atchison preferred
showed the best resistance.
Net losses are the rule. but in the
railroads are restricted to fractions OK
cept for a few cases. Sugar was the
leader In point of activity, and after
covering 81 points. closed 1ss lower.
The Tobacco stocks and Anaconda
were also notably weak the latter on
London selling, accompanied by fur
Their decline in the price of Copper Air
Brake lost eleven and n half points.
The demand for railroad bonds con-
tinued active and the market was
strong. many of the reorganization
per cents continuing to make new high
records. New issues. which are in
course of disposal by underwriting
syndicates and second grade bonds arc
about all that have not been put at
prohibitivc prices. Total sales par value,
s2.790oO0
There is good investment demand
for Government bonds which are at
record prices. The 3's. the SIS and the
old As registered advanced Is in the
bid price to-day.
The total sales OF stocks were S91 900
shares.
466G46S