The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-05-18
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review of Trade.

New York, May 17.-When it was an
nounced on Monday morning that some
Of the great financial interests of the coun-
try had banded themselves together in
support of prices in the stock market, 1T
dissipated very largely the timdfty of the
holders of the group of securities which
had been so marvelously increased in prices
under the favoring activity of the late ex
Governor Flower. 1t also caused the pro-
fessional operators who always stand
ready to attack values of securities at any
vulnerable point, to pause in their pur-
pose and cover short contracts left out
standing since Saturday Capitalists be-
hind the Flower group apparently felt so
much encouraged with the frmness and
confidence displayed by the market since
the crisis that they made up their minds
to-day to complete its rehabilitati ton and
10 put prices back to where they were on
Friday last 1t was not until the latter
part of the day that their purpose seemed
to be seriously in hand. In fact, the
Flower stocks as a group were conspicu.
GUS during the early part of the day. Their
position seemed to be the natural course
of events and the general trend of the
market 1t was the general trend of the
market that seemed to confirm this pur-
pose of financial leaders. These events
were very marked disinclinat ton on the
part of the personal holders of securities
to proceed with any liquidation and a
quiet and persistent outside demand for
a wide range of stocks Some very large
transactions in bonds, especially in recent
or contemplated issues of railroads of the
81 and per cent ranges, were also in evil
dence in the pressing demand for invest
ment from a large reserve capital. The
money market was notably easy, and adj
n he
were of large funds on hand. The state
ments of st. Paul's earnings for the sec
ond week in May, showing an increase of
$4,000 compared with the corresponding
week last year, when the extraordinary
grain movement incident to the Letter
deal was in progress. was taken to indi-
cate continued prosperous condition of
railroad traffic. London also showed a
favorable disposition toward American
railroads, and advanced prices before the
opening here. And although part of the
purchases were re-sold later having some
possible strength in the rate of exchange
in London, the sales were not in sufficient
volume to threaten the money market
here. More mature consideration of the
trade statistics for April disclosed the con-
ti1iued strong position of our international
commerce, notwithstanding unfavorable
comparisons at some points with the I'M
precedented period of last year. The mar
ket gradually but persistently hardened
under these influences early in the day,
Central and Southern Pacific, Chicago ter
mnal the iron and steel shares, sugar and
tobacco and New YORK municipal corpora
ton stocks advancing sharply. In the
late afternoon the market leaders under
took to push up Brooklyn transit to where
1t was last Friday. This they did through
the flood of offerings and held 1t there to
the close, seven points above yesterdays
I1fs N@I1 fnn1
stocks, International paper, Rock Island
and Atchison preferred are from one to
four points higher. The railroads shared
very generally in the strength, the close
being buoyant and at the top.
The large demand for bonds sought per-
sistently for pretty much all issues not
already at prohibitive prices. Total sales,
81, 900.
U. S. new As and the old As registered
advanced u in the bid price.