Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-05-04
FINANCE AND TRADE
Stocks We're Irregular With a Tend
enoy Toward Weakness.
SUGAR OBJECT OF A BEAR RAID
After Period of Decided Weak
ness 1t Recovered Sharply
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK. MAY 4.-The trading I'm to-
days stock market reflected a better or
ganzation on the part Of the operators Tor
the decline and several successful raids
were made on various parts of the list
Rumors of all sorts were I'm circulation.
but the one significant fact which was de-.
veioped was a willingness to resort 70
rather desperate measures I'm order to forcs
out stock. The death OF well-known cap
italist was announced by this clique ot
traders and an attack made on the shares
in which he is popularity supposed to bo
most Interested
For some reason American sugar was at
tackled vigorously. and for a time little re-
sistance made to the downward
course. The selling was suddenly arrested
during the noon hour with the price about
l94 and sharp recovery Of s per cent fol-
lowed. The want of truth in these rumors
was easily discovered. but in some in
stances sales We're made before informa-
ton sought.
second runOr which was paraded for
time with good results, was disagree
ment between two OF the largest houses re-
Gently identified with the upward move
ment. As a result OF the split banks were
said to be calling and refusing loans TO the
weaker houses and forced sales were TO be-
expected IN consequence. Such statements
We're denied in due time and a sharp recoy-
cry followed at once.
The entire days trading reflected the
need OF a new public interest and some
thing more positive than a Willingness to
buy on scale down. The buying OF tho
last few days has been of the better sort
but the purchases We're made with a will
inRness to wait for results.
Today's attack made the entire market
look weak, but at no time did anything IN
favorable to earnings appear, and where
concessions were made the cause was di-
rectly attributable to local speculative con-
ditions. The bulk of the opinion was IA
vorable to higher prices. but there was a
degree of optimistic inertia which actually
contributed to the depression.
The industrial stocks were weak from
time to time. and so were Atcheson and the
Pacific shares. American Steel and Wire
withstood the selling as well as any OF the
newer concerns.
In Atcheson Preferred the orders at 30
were broken through for time. thereby
discrediung a prediction Of the Standard
Oil party. During the afternoon the ten
dency was toward a rather narrow volume
OF trading. but the market was sensitive
and inclined to be irregular.
Money is offered in good supply and while
all classes OF collateral are not desirable,
conservative houses are getting all the ac-
cOmmoda ton needed.
The immediate situation has every ap-
pearance Of being Of the same mixed char
acter that of the last few DAYS. OF the
two factions at work in the market the one
Tavoring Improvement has decidedly the
advantage Of routine conditions The other
faction has only the possibility OF being I'M
molested for a time by the larger interests
The closing hour showed very clearly the
capacity of the street for forcing a rally.