Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-05-13
MARKET REPORTS


New YORK. May ij-Owinr 10 the III
vefsihed Interests ~ the late Roswell
y. Flower. which Included a number of
speculative properties on the New York
stock exchange, the bear faction, who
have been very demunHtrntiNc of late
towards securities ~ this class. pre-
pared for a concerted raid arninst these
STOCKS ht the opening, ana they OBJ
tained substantial following of the
rank aud file OF traders who have no
decided attitude In the market and are
prepared TO rn short or long as the
ease may be when q favorable oppor-
tunity presents itself. Before the OPEN
ing commission house clients were
called upon tu put Up additional mar.
gins In order 90 insure comfortable
leeway for the expected drop. The
opening was very wide IN the Flower
spccialtics and immcnsc blocks ot
stocks came out on a scale down %
from 6 TO ~ points the latter In brook..
lyn Transit. Peoples Gas slumpcd
Is points and Federal steel, Rock
Island and other Flower issues dropped
on from Ia 10 points. About to,Voo
shares were thrown over In brooklyn
transit during the FIRST u minutes.
New York Air Brake dropped 90 points
60 i2s.
Tho fac, that an extremely favorable
bank statement was expected was IL.
nored for the moment and the irrerlsti-
bile downward rush of the rpecinltiea
carried everything else along with u.
STANDARD stocks averaged ~ points
down.
Metropolitan street railway, Manhai-
tan and sugar dropped ! points. The
attendance on the fioor Of the exchange
was unusually large and many brok-
etr who Generally are hbrcnt on Hat
uriay put In an appearance. The Fal-
leriea were packed with nishteccrs who
came down town In expectation OF
witnessing exciting scenes. After the
nrlit quarter 81 an hour the market
turned Violently upward. New York
Air Brake recovered " points to i.Ns.
Tho trading In the stock exchange dur
lnE tho nrft hour eciipsed anything
ever witnessed In the market for VIC.
lenee 81 fluctuations. Variations 81 2
60 points wcrc common and IN one IN
stance there was q split In New York
Air iirakc Of 10 points on a single
transaction There appeared Ia be some
unanimity OF action among substantial
Interests 10 support the market after
tho opening Decentralization nnd stocks
were purchased at rapidly Improving
prices. Although the movement was
very fevefirh. brooklyn Transit rallied
from leo to lie. Peoples Gas from l.ui
to i.is and rccnvcrtcn In other special.
ties werc from 10 points, Rallroad
stocks also recovered very sharply.
burlington being q conspicuous inquire
WIN orders 10 b,iy and seii. While the
activity nhated towards the close OF
the nrrt hour there was stu considcta-
bic excitement In speculation.
Heavy rcaliEaiionH started prices on
the down grade again hut the market
st.adled for time upon the appear
ancc Of the bank statement. The slate
uent was Interpreted vafiously BY the
traders. some oontedlng that u was
favorable In every respect. while o,herr
maintained the cash Increase ala not
fully reflect the payment Into the
hanks ~ the SIS Ooo, 600 spanish indem-
nifty money. Although there was lack
~ unnnmlty of opinion nN TO the char
ntter ~ the report the market never
thciern went on after IL publication.
some traders putting out short lines.
white others realized NJ IN customary
on what IL considered good news. The
market closed under pressure. but with
the general level Of prices materially
Above the lowest.
Tho animation subsidized 20 n consli.
cradle extent nH time progressed. but
there waa no dimlnution Of excitement
Fluctuations IN the l'tdlng stocks cove
ercd q very wide ra'Re and although
the market crrayed 10 rise, rcaiVationH
aud hnmmering by the bears ~ the
vulnerable points made the movement
very irregular
ueeoveries occurred In the Flower
rpecinitieH of from 20 " points, but
AT the hiEh level reallKati0nn coupled
with renewed short sales by the bear
faction VINO .Nnrrssch uls.a'l ''s,,"u =,
tho BANK MhteIn'hi 'a"F1o
nH.h t'N'hh h"Nen'h' :" Wv ''
urnihE., -. -, a.. 49,.
safes 'ouFS' 's'N's N"a''H'
MONEY.
New York, May ia.-Moncy on call
steady nt ~ pet cent,
-, ''''
sirfnnk es.hahko rtrhus VIZ "a n ~ ~
- demand aud a kla.4t A, for a. DAYS!