The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-25
STOCKS DRIFT DOWN
Disquieting Factors Besides
the Normal Dizziness
UPON CROP UNCERTAINTY
Bonds Retain the Activity
Characteristic of Late.

New York, May 24.-Prices OF stocks
drifted 10 lower level today in the IN
certain and irregular manner which is
characteristic of a dull and undecided
market. The dullness OF the market is
entirely normal for this time OF year when
the fate of the coming crops, on which so
much depends, is still in the balance. In
present conditions. however, the market
has several unfavorable factors TO contend
with. In the first place there are evident
" hanging over ii some of the large hold
ings that were taken on for the purpose
Of averting panic and which are offered
for realizing purposes al certain point
in any advance In today's market. also,
il was rather obvious that some OF the
newly foated industrials were not having
an easy time. This was especially ture
OF the various companies which were TO
have been aggregated in the projected
great steel combination, the plan for
which seems 10 have materially altered.
American Hoop. Tin Plate, Steel and Wire.
and National Steel were all quite acuteiy
affected and in the late dealings Federal
TO attacks The continued heavness OF
Amalgamated Copper in the outside mar
ket also gave evidence of the saturated
state of the public demand for new in
dustrial securities. Add 10 these incidents
OF weakness. continued fears that the
coming crop would turn out badly and
the bears had good efld for operations.
There was very little resistance offered to
their manipulations, but their operations
were not very bold and not on a very large
scale. The early strength in Sugar served
TO deter them somewhat. The failure OF
the foreign wheat market, after the recent
holiday, to be impressed with the fears
expressed in the domestic market regard
ing the crops also had It's influence in re-
stricting the operations of the bears. The
break in Sugar however, and the persist
ent weakness Of the steel stocks and the
rally in wheat encouraged a late attack
on the market, which was directed prin-
cipally against the so-called Could South
westerns and Brooklyn Transit. The
whole railroad list showed the effect Of
the raid, but the Changers and Aachison
preferred showed the best resistance. Net
losses are the rule but in the railroads
10 AtSAA4tNGu 10 lEdCttplS except lOE q
few cases. Sugar was the leader in point
of activity and after covering of half a
point, closed IS lower. The Tobacco
stocks and Anaconda were also notably
weak, the latter on London selling &C
companied by further decline in the price
of copper. Air Brake lost II 1-2 points
The total sales OF stocks today amounted
to 391,0s3 shares including American Hoop,
500; Americana Steel and Wire 1920:
American Sugar, 1880; American Tin
Plate, Ii, 100; American Tobacco. 5000: An
aconda, 500; Atchison preferred. $1,000;
Brooklyn Transit, D, 700; Canadian Pa
cific, 300; Chicago Burlington and Quincy
rights. 1890; Chicago Burlington and
Quincy. 13.500; Continental Tobacco, 3. 900;
Federal Steel. IS. 100; Louisville and Nash-
vile, $500; Manhattan Consolidated, 5000:
Metropolitan Street Railway, 1900: Mis-
souri, Pacific. 1880; National Steel. 500;
Northern Pacific. 100; Pacific Mail. 5000;
Peoples Gas, 1850: Reading first pre-
ferred. 5000; Rock Island, 1900: St. Paul,
1890! Southern Pacific. 4,S00; Tennessee
Coal and Iron. 400: Union Pacific, 200;
Union Pacific preferred, 200.
The LEADING g+o F-f1