The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-05-19
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 1S.-To-day ended on the
stock exchange with bears apparently I'M
opposed and in complete possession of the
market They made a fierce attack on
prices along the whole line in the final
hour after evidences of realizing at va
rious points in the list had become quite
palpable. The largest volume of profit
taking sales came upon the market after
quite an extended list of railroad stocks
had been taken in hand and pushed up
to a decidedly higher level. This move
ment in the railroads continued after the
leading specialties had been going down
and gave a suggestion of a shifting of
speculation by taking out profits from the
specialties and putting them into the rail-
roads. But the railroad list succumbed
to the late attack. many stocks losing be-
tween l and points and Burlington drop
ping ~ points below the high point Of the
day. Practically all the earlier gains in
the railroads were wiped out, though
small net advances remained in a very
few cases.
Prices were marked up at the opening
to accommodate the outside public, who
were coming in to buy at yesterdays no.
table advance. The demand from that
source was soon satisfied and prices
yielded and the market fell into dullness
at the decline. Losses were. of course.
In those stocks which have been rushed
up during the last few days. Railroads
showed a pretty good resistance and ma
nipulation was notably strong. AS the
day progressed a strong demand sprang
up for Atchison preferred, the grangers,
Unioll and Northern Pacific and other
standard railroad stocks. Very heavy
blocks OF Atchison preferred were taken
on the rise and the price in number of
cases advanced more than point.
Anaconda mines also enjoyed a gain of
81 points. 1t was under cover of this
movement in the railways that the reali-
cation of profits in the specialties was in
progress Nearly all the Flower special
ties Sugar and Tobacco. began to sag I'M
der the weight of the sales In the attack
which the bears were thus encouraged to
make Sugar and Metropolitan dropped
more than points, Brooklyn Transit AZ
ard number of specialties 2 points or
more. There was a momentary rally. but
prices plunged downward again and the
closing was very weak and unsettled, SUI
gar alone rallying more than point on
the taking of bear profits, but the prices
generally ending at the lowest of the day.
There was nothing in the general news
of the day which seemed to influence the
trading unless 1t might be further hard
ening in the rate of exchange, which con-
tinues to rise and is near the gold import
point in spite of the continued ease of
money and the apparent abundance of
funds both here and in the interior.
There was no diminution in the heavy
demand for the new bond issues of some
of the railroads, notably the Central Pa
cifc Prices of railroad bonds held out
notably firm. Total sales, SIS, 305, 900. s.ls
U. s. new SIS advanced II per cent. in
the bid price.