The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-05-26

eminent bonds were strong; railroad bonds
We're strong; state bonds were strong.
New York. May 25.-Transactions IN
stocks were on a larger scale and trading
showed more animation than for several
days past There were evidences Of a con
siderable outside interest in the market
especially in railroad stocks But opera
tons continued still, in very large part
in professional hands. Ii was a conflict
between the bulls and bears for suprem-
acy, and the bulls easily had the best
of il.
There were several conditions that
aroused apprehension on the part of the
bears, and they showed a disposition 10
cover short contracts from the outset
Apparently there had been quiet pick
ing up of stocks for the long account in
the recent depression, and the holders
were as willing TO take proftsi if they could
get them as the shorts They proceeded
therefore, 20 bid up the market and in
duced quite an active movement for both
accounts. The decision of the Stock Ex-
change to keep closed over double holi-
day, from the coming Saturday until We'd
nesday, was a motive for closing up ac-
counts, both long and short The market
hesitated only momentarily at the open
ing, at which time low prices for the day
were made in nearly all cases and then
moved quite strongly and confidently up
wards
There were occasional pauses and set
backs, and some irregularity and real
izing movement in the late dealings
brought prices generally below the high
level, but very substantial net gains re-
manned in nearly all cases. Ii has been
obvious for several days that the short
interests We're becoming rather unwieldy
and a premeditated attempt was being ar
ranged TO take the market from the
shorts previous TO The coming holidays.
Some of the factors, which assisted the
bulls, were the excellent reports of rail-
road earnings for the third week in May,
which continued to be received this morn
ing. This was especially true of the South
western roads of which the shorts were
rather free sellers yesterday. The rather
buoyant tendency of the wheat market on
continued crop scare was, therefore. ig
nored and the Changers and Southwesterns
were quite freely bought. Reports were
circulated with the appearance of au-
thorty, that the dividend disbursements
for Inc current period on the Atchison pre-
ferred 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 fran
chise tax bill amehorated the conditions
imposed upon the New York municipal
corporations, lifted that group of stocks
quite markedly. London was a buyer of
stocks to a moderate extent, and this was
an influence in the easier tone of sterling
exchange, which relieved some slight APP
prehenson of possible gold exports.
Sugar and the Coalers were manipulated
for a rise by the bulls, and there were evil
dences of strength in Southern Pacific and
Central Pacific. These conditions were
too much for the equapamity of the bears,
and they joined in the buying movement,
with results as above indicated. Pressed
steel car was the most conspicuous ex-
ception to the prevailing strength
There was continued large demand for
all available classes of bonds. govern
ments included, and prices are higher all
around Total sales, par value, $.64S 000.
United States IS coupon and the new As
advanced 4, and the 5s 4 in the bid price.
The total sales of stocks were 1880
shares including SO $50 Atchison preferred,
24650 Burlington, $3.50 Louisville and Nash
vile, IS, $3.50 Manhattan, 1905 Metropolitan
Street Railway. 1920 Reading first pre-
ferred $3.50 Missouri Pacific $3.50 North
ern Pacific, $500 Ontario and Western;
$3.50 Rock Island, 1880 ST. Paul, 1900
Southern Pacific 1890 American Steel and
Wire. $40 Federal Steel, 1920 Peoples
Gas, $500 Brooklyn Rapid Transit, 6,n9)
Continental Tobacco $4,000 Sugar, 1000
Tennessee Coal and Iron.