The evening times., 1899-05-31

The stock market this morning was sun
suffering from the short selling and liqui-
dation of last week. and after period OF
comparative strength commenced decline
led by Sugar and the New York Traction
stocks. There was little of news afoat
and what there was seemed to have bear
tsh tendency. The outlook for the imme-
diate future Is most uncertain and all
things considered nothing better than a
traders market seems likely. The bull
movement is not far off, the best people in
the Street are convinced, but the leaders
up to noon today had not shown any dis
position to come to the rescue of the mar
ket. This effort OF the leaders is the one
thing needful to force an upward move
ment of significant proportions. The shorts
are numerous and there is very little SELL
ing of long stock.
The two items Of news" circulated by
the gossips this morning were the bear
winter wheat stories and the tips that the
first case of yellow fever so early this
season will have a bad effect on the stocks
of the Southern railroads, especially South
ern and Louisville and Nashville. This
latter question is worthy Of serious consid-
Grafton and it would seem the best course
for a time at least not to buy either OF
these stocks Surgeon General Wyman, in
a conversation with the writer of this 4
few days ago, said that the precautions
taken this year against the fever have been
greater than ever before, and that the au-
thorities, both State and Federal, are most
hopeful The Improvement that has taken
place at Havana and other Cuban ports In
the last year should, in the opinion Of the
authorities, Offset the larger travel and
freight business between Cuba and this
country. And in addition to this there is
now practically double system Of quar-
antine, rigid inspection being possible at
Cuba as well as in this country. Whatever
the actual outcome may be. however, it
seems certain that the sentimental element
of the market will be affected adversely by
the possibility of the fever. Both Southern
and Louisville were somewhat heavy this
morning.
The news Of the wheat crop this morn
ing was no better, and the price Of wheat
was away up at the opening and strong
during the early trading Excellent au-
thorities are of the opinion that the win
ter wheat crop scare has been padded"
largely, and that the crop will be a fair
one, despite all the dismal stories of ut
ter ruin. The bears may continue TO cir
culate the yarns Of disaster for a time
longer with some effect, but as has been
the case every other year the turn will
come sooner or later, and probably at no
very distant date. Meanwhile a tremen-
dous short interest is being piled up in the
grangers, which will be of great benefit
to the bull leaders when the tide turns.
This is particularly the case with re-
gard to Atchison preferred. People who
are usually we'll advised state that in
their opinion this stock may be bought at
the present level with an excellent chance
Of good profits in the near future. Atchi-
son will have a through line to San Fran
cisco inside Of year, and it is now build
ing two branches, which promise to be
most profitable in Oklahoma. And the Ok
lahoma winter wheat crop. by the way, will
be one of the largest in its history this
year. 1t is now nearly ripe, and with a
large acreage. The yield per acre is also
very large
Sugar was most erratic this morning, an
indication that there are still two very de-
termined elements in the speculation in
the stock. Immediately after the opening
there was an advance of over s. a share to
148, and from this level as sudden a tumble
shortly after. 1t b said by the bulls that
the dividend on the stock win be declared