The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-05-25
MISCELLANEOUs.
THE MARKET ELSEWHERE.

New York, May 24.-Prices of stocks
drifted to a lower level today in the I'M
certain and irregular manner which is
characteristic of dull and undecided
market. The dullness of the market is
entirely normal to this time of year
when the fate of the coming crops, on
which so much depends, is still in the
balance. 1t was this normal dullness
which the bull party attempted to defy
early in the month when the death of
Mr. Flower upset all their calculations
and threw upon them the burden of
large buying to check panic.
Now that the market has settled into
its normal quiet, it has several unfavor-
able factors to contend with. There is
evidently hanging over the market
some of the large holdings that were
taken on for the purpose of checking
the panic and which are prepared for
realizing purposes at a certain point in
any advance. In today's market also
1t was rather obvious that some of the
newly floated industrials were not hay
ing an easy time.
This was especially true of the var
ious companies which were to have
been aggregated in the projected great
steel combination, the plans for which
seem to have been materially altered.
American Hoop, Tin Plate, Steel and
Wire and National Steel were all acute
ly effected, and in the late dealings,
Federal Steel and Colorado Fuel also
succumbed to the attacks. The con-
tinued heaviness of Amalgamated Cop
per in the outside market, also gave
evidence of the saturated state of the
public demand for new industrial Sc
curities.
Added to these incidents of weakness
were continued fears that the coming
crop would turn out badly, and the
bears had good field for operations.
There was little resistance offered to
their manipulation, but their operations
were not very bold and not on a very
large scale. The strength in Sugar
served to better them somewhat.
The failure of the foreign wheat mar
ket after the recent holiday to be i'm
pressed with the fears expressed in the
domestic market, regarding the crops,
also had it's influence in restricting the
operations of the bears. The break in
Sugar, however, and the persistent
weakness of the Steel stocks encour-
aged late attack On the market, which
was directed principally against the So
called Gould Southwesterns and Brook
lyn Transit The whole railroad list
showed the effects of the raid, but the
Changers and Atchison preferred show
ed the best resistance. Net losses are
the rule, but in the railroads are re-
stricted to fractions, except for a few
cases.
Sugar was the leader in point of ac-
tivity, and after recovering 316 points.
closed IL lower. The Tobacco stocks
and Anaconda were also notably weak,
the latter on London selling accom-
panied by a further decline in the price
of copper. Air Brake lost liz points.
The demand for railroad bonds contin-
ued active, and the market was strong,
many of the reorganization per cents
continuing to make new higher records
New issues which are in course of dis
posal by underwriting syndicates and
second grade bonds are all that have
not put up prohibitive prices.
The investment demand for govern
ment bonds is at record prices
The IS, IS and old As, registered ad-
vanced * in the bid price today.
The governors of the New York stock
exchange have decided to suspend bust
ness Monday, May 29, as well as or
Tuesday, Decoration day. This means
a cessation of business from Saturday
| at u o'clock to Wednesday at 10