The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-05-18
Eima nrial.



of the most powerful financial interests
in the country had banded themselves
together for the support of prices in
| the stock market it dissipated very
largely the timidity of holders of the
group of securities which had been 50
marvelously increased under the favor
ing activities of the late Ex-Governor
Flower 1t also caused the professional
operators who always stand ready to
attack values of securities at any vul-
nerable point to pause in their purpose
and cover short contracts left outstand-
ing since Saturday The capitalists be-
hind the Flower group apparently felt
so much encouraged with the firmness
and confidence displayed by the market
since the crisis that they made up their
minds to-day to complete it's rehabilita-
ton and to put prices back to where
they were on Friday last before Mr..
Flowers lamented death. 1t was not
until the latter part of the day that this
purpose seemed to be taken seriously in
hand. In fact the Flower stocks as a
group were quite conspicuously quiet
during the early part of the day. Their
position seemed to be left to the natural
course of events and the general trend
of the market. 1t was the events of the
day in the general market that seemed
to confirm the purpose of the financial
leaders. These events We're a very
marked Discrimination on the part of
present holders of securities to proceed
with any liquidation and quiet and
persistent outside demand for a wide
range of stocks. Some very large trans
actions in bonds, especially in recent or
contemplated issues of railroads of the
1-2 and per cent. grades were also
in evidence of the pressing demand for
investment from a large reserve of capt.
tai. The money market was noticeably
easy and advices from different points
in the interior We're OF large funds ON
hand The statement of st. Pauls
gross earnings for the second week in
May, showing an increase of over $24,-
600 compared with the corresponding
week last year. when the extraordinary
grain movement incident to the Letter
deal was in progress, was taken to in
dicate continued prosperous condition
of railroad traffic London also showed
a favorable disposition towards Ameri-
can railroads and advanced prices there
before the opening here. And although
part of teh purchases were resold here
later, having some possible effect in
the rate of exchange on
London, the sales were not in sufficient
volume to threaten the money market
here. More mature consideration of the
trade statistic for April disclosed the
continued strong position of our interna-
tional commerce, notwithstanding unfa-
vorable comparisons at some points with
the unprecedentedsperiod of last year,
The market gradually but persistently
hardened under these various influences
early in the day, Central and Southern
Pacific, Chicago Terminal, the Iron and
Steel shares, Sugar, Tobacco and New
York municipal corporation stocks, ad~
vancing sharply. In the late afternoon
the market leaders undertook to push
up Brooklyn Transit to where it was
last Friday, This they did through a A
food of offerings and held it there to 4
the close, over I points above yester
days close. Peoples Gas, the Federal
Steel stocks, international Paper, Rock
Island and Atchison preferred are from
to over points higher. The railroads
shared very generally in the later
strength of the market, the close being
buoyant and active at the very top.
The large demand for bonds sought
for pretty much all issues
not already at prohibitive prices. Total
ales, "a 100000. United States new tours
and the old tours registered advanced 1-8
in the bid price.
Closing Prices.
Following are the closing prices reported
~ Prince Il Whtely. Bankers and Brokers,
" Broadway, New York, and 10 Center st,
New Haven. Bid. Asked. |