The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-05-20
THE MARKET ELSEWHERE.

New York, May 19.-The stock mar
ket was abandoned almost wholly to
professional traders on the floor of the
exchange. No outside demand of i'm
portance was apparent at any point in
the list. Prices were marked up sharp
ly at the opening on a demand from
the shorts who sold specialties yes
terday. Sugar, Brooklyn Transit aud
the Flower group, generally showed
the largest gains, the demand be-
ing obviously from the short in
terests. Anaconda Mining showed
strength both in London and here,
which was we'll maintained throughout
the day, and the tone of Manhattan
was also firm without any published
news to account for it.
The opening demand from the shorts
was soon satisfied and prices slipped
away, but without any pressure to
sell. The dullness at the decline
seemed to impress the professionals
with the idea that the reaction was
over, and they turned buyers. again
marking prices up and especially in
Brooklyn Transit and Sugar. But it
became quickly evident that the large
bull interests which were active early
in the week, were not yet prepared tn
resume operations, and the advance
did not hold.
The absence of any demand for
stocks caused the traders to turn
bears again, and the market sagged
and drifted quite aimlessly for the
balance of the day.
Short sales by the traders were ccv-
cred before the close, bringing prices
in a great many cases back to about
last nights level. There was rather a
sharp decline in Tobacco in the last
hour with which the professionals as
ISOLATED rumors regarding the health
Of a member of the company The
large demand for railroad stocks which
was manifest in yesterdays trading,
was lacking today. and that depart
ment of the market was very dull
comparatively, but firm at some points.
The Changers showed weakness. at
tributed to the continued rumors Of
crop damage.
London bought a few stocks in this
market, but took no active part. owing
to the pending holidays there. In spite
Of the small buying by London. ster-
ling exchange hardened an additional
fraction. the demand rate showing ar
advance of IS cents on the nouns
since last week. Money continued
easy and estimates of tomorrow's
bank statement are of a large incre IS
in cash reserves as the market has
gained heavily from the sub treasurv
on account of the final payment to the
order of the Spanish government OF
Monday Of $1,000. 900 and also by re-
ceipts from the interior. The reports
from interior points are of large cash
reserves on hand and a steady demand
for safe investment.
The railroad bond market continue
to show a large investment demand.
especially for recent reorganization is
sues. Very heavy individual blocks CT
new Baltimore and Ohio bonds and II
the Wisconsin Central lists, were tax
en- of the market. There were some
declines in price late in the day, but
the frmness at other points made the
market irregular. Total sales. $3.50,
000 United States new Is advanced
Is in the bid price.
The total earnings of the new COM
bine growing out Of the Carnegie Steel
Company, based on the present price
OF iron and steel. will be between So
00O. 900 and s45,000.0 900 annually. Til
Review adds: -The interest require
ment on the bond issue Of 100000. 600
is s5,000.000 and the six per cent divi-
dend on s250.000 900 Of preferred stock
will require actually $4,000. 000 or a to-
tai charge Of $20.O00,o0O ahead Of the