The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-05-26
THE MARKETS.
Wall Street Review.
BY Associated Press.

Ey Associated ffess'
New York, May 25.-Transaotions in
stocks today were on a larger scale and
trading more animated than for several
days past There were evidences OF a
considerable outside interest In the mar
ket especially In railroad stocks. But
part in professional hands. 1t was con-
flict between the bulls aud bears Tor
supremacy and the bulls easily had the
best of It, The decision of the stock
exchange to keep closed over double
holiday from the coming Saturday until
Wednesday was n motive for closing ZIP
accounts both long and short. Total
sales, 432,5OO shares.
BY Darlington a. Cusack.
New York. May 25.-The market opened
with considerable show of strength
which was caused by the demand 10
cover shorts. Traction stocks were gem
orally firmcr in view of the prospect nt
teh passing of the amended Ford bill.
The whole sentiment seemed to have
changed over night and as we intimated
in last nights letter, the covering OF the
large bears seems to have taken place
on yesterdays sharp decline: Sugar ad-
vanced on relatively small purchases
and the Steel stocks gained fair amounts
on the covering by belated shorts. The
temper has changed to a more bullish fol-
lowing and there was slight increase IN
commission house business. The pubi-
cation of Mr.. Sage's bullish interview
and tho fact that the market is quite
heavily oversold, Is doing as much as
anything to rally the list, and 1t looks
to us as IL prices would advance sOme-
what further The news of the Fora bill
indicates the passage of the amended bill,
| and the Traction ste cks showed the ef-
feet of the better feeling from this
source. AS a mater of fact, the rally
was due as much to manipulation by bull
interests and the consequent covering of
the short raiders as to anything else.
Wheat, which should be a certain indi-
cation of the outlook for the Granger
stocks, was particularly strong and
crop reports was of a distinctly unfa-
vorable character, so that 1t is but fair
| 10 presume that the rally in the Grang-
crs was due as much to short covering
as to any outside buying for investment.
Chicago, which Is particularly close to
| the scene of damage, continues radically
| bearish on the wheat situation and on
| the advance was a rice seller of Burling-
| ton, st. Paul and Atchison preferred, the
| offerings being absorbed by local inter
| ests. The demand for Atchison preferred
| and St Paul was comparatively large
| from London prices. The advance in
| burlington and st. Paul was of buying
| by houses which have lately been large
| sellers. The passage of the Ford bill
| around l o'clock caused a further ad-
| vance In Brooklyn Rapid Transit and
| the Traction shares, and relatively
| strengthened the market. The Coalers
| were advanced by Morgan's interests, we
| think with the idea of liquidating stock.
| The whole market has changed SO ma
| terially that 1t may run somewhat fur
| ther towards higher prices, but on any
| fair advance and around present values
| we think is sale. The close was irregu-
! lar but in the main strong.
| Quotations furnished by CARRINGTON
| & CUSACK, stock and bond brokers,
| rooms 40 and All Connell building, scran-