The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-05-11
lsi,,a ueial.
The StocI1 Market.

New York, May 10.--The market NOV
ed up sharply to-day, although at diff
ferent times considerable irreguarity
appeared, Certain large interests were
open purchasers of their specialties and
the absorption of some 10000 shares by
London aided the market leaders In
! pushing up their favortes. In the af-
| ternoon the rapidly of the advance in
duced the covering of large short lines
and commission houses were again ac-
| tive purchasers. There was no furry
in the money market, the ruling rate
for call loans being per cent. Ster-
ling exchange eased off on the large
purchase of stock for foreign account,
An element in shaping sentiment was a
rumor that the government report to be
issued late to-day would show an i'm
provement of several points over last
month.
st. Paul's favorable weekly statement
of earnings was a source of strength to
the grangers. The lower range of prices
brought about by yesterdays decline
proved attractive to many would be
purchasers, and while there was no i'm
portant news development, sentiment
was completely reversed to-day. Stocks
which were the center Of weakness yes
terday, notably the Flower specialties,
were among the strongest features to-
day, Brooklyn Transit rising 71a and
Federal Steel and Peoples Gas about
each.
Among the specialties there were
some very pronounced advances, in
Guiding American Tobacco IL, Ameri-
can Shelters SIS, Steel Hoop and Third
Avenue each, American Steel and Wire
go, Tennessee Coal and Iron and Con-
tinental Tobacco 31s each, Anaconda
Mining and Manhattan each. The
railways advanced from l. to 3% points
for active issues, Burlington scoring the
extreme rise. Metropolitan. which lost
point, was the most pronounced ex-
ception to the general strength. In the
forenoon there was considerable COM
mission house liquidation. which induc-
ed certain professionals to make drive
at the market, but large operators alb
sorbed offerings, two houses collective
ly taking about 100000 shares, and this
turned the tide and a steady improve
ment followed.
A report that the trust commission
hearing in Washington had been post
poned for thirty days led to purchases
of the stock of some of the companies
to be investigated. 1t was reported
that a prominent commission house af-
ter a consultation with financial insti-
tutions carrying it's loans, was forced
to sell a large line of stocks shortly af-
ter the opening, and that it was on
sales from this quarter that the market
was temporarily depressed in the fore
noon. Practically everything joined in
the late advance and the market closed
buoyant at the best
Railroad bonds participated in the |
improved speculative temper but ad- |
yances We're not material except in a !
few instances. The total sales We're 3d.
800 900.
United States new tours advanced u |
and the threes Is in the bid price.
COTTON REPORT.
Washington, May 1O.-The cotton-crop
'eport for May, issued to-day by the
department. of agriculture, is as fol-
oWs:
The cotton crop report for the month
# May indicates merely the belief of |
on May as to the in
entions of planters regarding the acre
ge to be planted, and the estimates be-
ng liable to modification during MAY,
hey should be regarded merely as a
eneralindication of the strength Of the
endency towards an enlargement or
eduction of acreage. In every cotton
rowing state the indications on the LIST
asst. pointed to a reduced acreage, with