The evening times., 1899-05-27

The stock market To-Day exnlDlteO Pc
culiar divergence in the movements of the
various groups of stocks. For aeveral
weeks the entire list has tended to move
together down or up. Yesterday there was
noticeable a hardening in many OF the rail-
road stocks. and today this peculiarity- was
pronounced. The industrials in general
under the leadership Of Sugar and the
New York corporation stocks were weak,
and all showed declines at the close, some
OF them large. The railroad stocks, how
ever, with the coafers In the lead, nearly
all advanced well under the influence of
good buying. They went of from the high
est prices reached, but closed with net
gains. which in some instances were i'm
portant The Street is inclined to look
upon this situation as a favorable one TO
near advance in prices. Sugar was ham
mered down 10 points. and 1t naturally car
ried with it some OF the more volatile and
easily moved securities. The railroad list
it could not hurt. The suggestion Is made
that the leaders are now ready to support
the market and ready to advance prices as
we'll, and that the effect OF bear attacks
hereafter will be to hurt the bears and rot
the price Of stocks. There has been long
decline and it is time for the summer
boom to begin.
The bank statement was fine one in
SO far as it makes cheap money certain
ty during the coming week. There Is
large increase in reserves and large de-
crease in loans. The only disappointing
item of the statement is the decrease in
deposits. The figures follow:
Reserves increased So, 302, 200; loans de-
creased $l7,57S. 500; specie increased, $3,-
692, 800; leagls increased. 81, ,454. 100; de-
posits decreased, 81, ,620, 800; circulation de-
creased, $35, 800.
The break in Sugar was the sensational
feature of the session. The opening was at
the lowest price of yesterday near 1853 and
all day there was hammering OF the stock,
which went off with almost no rally. The
low price reached was 145, decline Of II
points since the high yesterday and Of IS
points during the week There was the
usual abundance of rumors to accompany
the move, one of which was that the di-
vidend Is to be decreased or cut Oh entirely
at this meeting of the directors. Careful
people say that the company has been
losing money during the last six months
but that there is no likelihood that the di-
vidend will be cut. They attribute the de-
cline in the price Of the stock to manipula-
ton, and the possible overthrow Of the
Lawson crowd by the bears. There is some
anxiety over the fate of Mr.. Lawson who
has an immense amount Of sugar on his
hands, some of 1t purchased at near the
top prices. The probability that the sugar
war is over is not any less because Of this
bear drive against the stock!
Brooklyn Rapid Transit, Manhattan and
Metropolitan we're all weak today, par
TALLY in sympathy with Sugar and partly
on account of talk OF the big tax which
the Ford bill will impose. They were al
forced down to prices lower than any here
tofore this week, Manhattan to 109. Met
ropolitan to 119 1-2, and Brooklyn to Ill
and fraction. People who have been
right on the movements Of these stocks
heretofore express the opinion that they
will be higher at the close Of next week.
Brooklyn especially is picked out for a
good advance. The earnings of the sys-
tenn during the holidays are likely to show
an increase of at least $4,000 day.
The coalers were all very strong today,
advancing from q point to two points.
These stocks have been the best on the
list during ~ latter part Of the week, and
at the close today all showed good gains.
Mr.. Morgan will return In . few days, and
it Is now said again that his coming will
be the signal for announeem6nts regarding
these roads that viii AAvesA very 'bullish
effect On the stocks. It seems certain that