The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-26
BUSY DRY N STOCKS
BulIishneSS Carries the Day
for Substantial Gains.
DOUBLE HOLIDAY COMING
Which Causes Account-CIos-
ing--Bonds Still Advance.

New York, May S.-Transactious ii
stocks were on a larger scale. and trading
showed more animation than for several
days past. There were evidences Of a con-
sidezble outside interest in the market,
especially in railroad stocks. But opera
tons continued sun IN very large part IN
professional hands. 1t was a conflict be-
tween the bulls and bears Tor supremacy
and the bulls easily had the best OF it
There were several conditions that
aroused apprehension on the part of the
bears and they showed disposition 20
cover short contracts from the outset. Ap-
parently there had been a quiet pickinp
up OF stocks for the long account in the
recent depression and the holders were as
wiling 10 take profits. If Uhev. could get
them, as the shorts. They proceeded
therefore, to bid up the market and in
ouced quite an active covering movement
Tor both accounts. The decision OF the
STOCK exchange 10 keep closed over a dou-
Die holiday from the coming Saturday IN
I'll Wednesday was a motive for closing I'D
accounts both long and short. The mar
ket hesitated only momentariIv al the
opening. at which time low prices for the
day We're made in nearly all cases and
then moved quite strongly and confidently
upwards. There were occasional pauses
and setbacks and some irregularlty and a
realizing movement in the late dealings
drought prices generally below the high
level, but very substantial net gains 70
mained in nearly all cases. 1t has been
obvious for several days that the short in
terest was becoming rather unw.eldv and
a premeditated attempt was arranged TO
take the market away from the shorts
previous TO the coming holiday. Some OF
the factors which assisted the bulls were
the excellent reports Of railway earnings
Tor the third week in May, which con-
tnued to be received this morning. ~nis
was especially true of the Southwestern
roads, Of which the shorts were rather
free sellers yesterday. The rather buoyant
tendency Of the wheat market on contin-
Ted crop scare was therefore ignored and
the grangers and southwesterns were quite
freely bought. Reports circulated, with
the appearance Of authenticity, that the
dividend disbursements for the current
period on the Atchison preferred stock
had been practically decided upon. The
shorts who had sold on doubts OF this
were therefore driven 10 cover. The
passage OF the modified Ford franchise
bill, ameliorating the conditions imposed
upon New York municipal corporations,
lifted that group Of stocks quite markedly.
London was buyer of stocks 10 a moder-
ate extent, and this was an influence in
the easier tons of sterling exchange. which
some slight apprehensions Of pos
sfbie gold exports. Sugar and the coal
ers We're easily manipulated for a rise by
the bulls and there were evidences OF
strength in Southern Pacific These con-
ditions were too much for the equaniniiy
Of the bears and they Joined in the buy
ing movement with results as above indi- /
rated, Pressed Steel Car was the most con- I
spicuous exception to the prevailing +
strength.
The total sales OF stocks today amount /
ed TO 1880 shares, including: American
Car and Fuel, 1890: American Steel and I.
Wire, 400; Sugar. 2a,l00; American Tin
Plate, 400; American Tobacco. 400; Ana
sonda, g. 100; Atchson. 1890: AtchIson pre-
'erred. $500; Brooklyn Rapid Transit. 81
90; Chicago, Burlington and Quincy
tights, 1880; Chicago, Burlington and
quincy q, 100; Chicago Great Western.
,o00: Continental Tobacco, 500; Federal
Steel 1880; Federal Steel preferred. 400;
louisville and Nashville, 5000: Msuhat-
an, 1870; Metropolitan, 100: Missouri
Pacific. $50; National Steel. 1000; New
York Central. 800; Northern Pacific. 2 30.
ontario and Western, $50: Pacific Mail.
100; Pennsylvania, $500! Peoples Gas.
$50; Reading first preferred u. 309;
Reading second preferred. $40: Rock Is
and. $500; s.. Paul. 1880; Southern Pa
ific L20; Tennessee Coal and Iron. 100:
mon Pacific preferred, AGO: United
states Leather preferred. 400.
The leading stocks closed as follows: