The evening times., 1899-05-25

The stock market this morning, what
there was of it, was fairly strong. with
an opening at prizes about on par with
the close, and advance during the hr-t
hour The chief difficulty with the sit
uation at the moment seems to b. that
nobody wishes TO take either side. Yes
ter,iay was one OF the slo.est days in
many months, with transactions OF on
400 600 shares, and today bids fair TO be
no better. This situation favors the bu ls
il il may be said to be advantageous TO
anyone. After a period OF tumb.ing' prices
lasting a week or more. the bears have
ceased their pressure to sell, ald the
holders Of long stock seem wi ling to keep
all they own. Under ordinary circumstan
ces this would be heraldsd as tae sign o.
a good advance in prices, and there Is
much hope among the bulls that this
will BE- the case now. The level is very
near the bottom, although some stoc S
have held up since their advance alter
the death of Mr. Flower. Some item of
bull news coming opportune.y now would
be likely to start the advance. The pas
sage and signature Of the amended Ford
bill would be one such bull item. The end
ing of the rebellion in the Philivpin S
would be another.
For the immediate market there is lit
tie on which to base arguments. Trade: S
are inclined to look for a continuance OF
the small market. with fluctuations un-
important, and perhaps tending down.
ward 1t is thought by some, however,
that bear traders will wish to cov.r thsir
contracts over the holidays, and tha- this
may result in somewhat higher pri -es be-
fore the close tomorrow.
The sugar situation is perhaps the most
interesting market problem at present.
Mr.. Lawson, of Boston, continues to talk
of a settlement of the sugar war as one
of the certainties, and on the other hand
there are people said to be close to the
sugar companies who assert that the war
is as far from over as ever. There was a
slight rally in the stock this morning. but
it did not get up to the lowest level OF
Tuesday at any time before noon. People
as well informed as any in the street are
of the opinion that there will be higher
prices than any yet attained by it before
many weeks have passed. 1t is to be no.
ticed that no denial of negotiations be-
tween the contending sugar factions has
yet been made recently by anyone who
was willing to give his name.
and curiously enough the grangers were
stronger at the same time than they have
been before for several days Burlington
went up fraction and Atchison preferred,
Rock Island. and St. Paul nearly point
each. The buying in Atchison preferred is
of a determined character which seems to
indicate a strong bull faction opposed to
any lower level for the stock. London is a
buyer of both the Atchison securities. AS
to st. Paul the continued excellent earn
ings of the company despite all predictions
of a poor showing have given the friends
of this stock much confidence which 10 also
exhibited in good buying.
1t is to be noted in connection with the
current earnings reports Of the grangers
and trunk lines that there was an Cnnatu-
raj movement of grain last year In May
and June owing to the fictitious prices
made by the Letter pocl 1t is not to be
hoped that the showing made by these
roads this year will be as good. But after
the Letter fiasco last year there was a
period of great stagnation in July and lat
er which will not occur this year, SO that
the apparent losses at present in this
class of business will all be made up later
according to the best calculations.
The. liquidation Of long holdings in steel
and iron stocks in Chicago seems to have
ceased for the moment at least. All these
stocks were fairly strong this morning
though suffering from the inactivity that
characterized the entire market. It is
thought possible that the level of these
stocks may get a little lower before their
advance begins, but the bulls in the mar
ket are most optimistic regarding their ul-
innate great buoyancy. It il now conced-