The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-05-21
FINANCIAL AVID COMMERCIAL.
SATURDAY, May 20

NA"N ~Ns
The suspension OF business abroad until
next Tuesday. the half holiday here. and tho
beginning OF the summer exodus OF brokers
and their clients over Sunday during the
summer resulted In a very narrow stock mar
ket to-day. There was some professional buy
ing OF stocks at the opening with the view'
doubtless. OF selling them at a small profit upon
the publication OF a weekly bank statement.
That statement made fully as good a show
ing as had been expected, but the market
was so narrow that 1t yielded under
sales to realize profits on stocks bought
Yesterday and this morning In anticipa-
tion OF the event. In consequence. the
majority OF the list closed fractionally
lower than yesterday. The only noteworthy
net decline was that Of 81 v cent. In
Metropolitan Street Railway. Brooklyn Rap
i'd Transit was exceptionally heavy. The
strong features Of the market were Sugar
Refining and Anaconda Mining. The last
named enjoyed a net advance OF ~ points on
he announcement that several OF the impor-
tant promoters Of the Amalgamated Copper
Company have been elected directors OF the
Anaconda Company. The strength OF the mar
ket for Sugar Refining was explained to an
extent In this column this morning. A further
advance In the price Of the stock to-day re-
vived reports OF an impending settlement OF
the trade war between the company and the
eO-Cdueu lnu6ptuutnJ IouheIioe'
The weekly statement OF averages OF the As
Isolated Banks shows an increase in lawful
money OF 81. 1884. 900. The loans have been re-
duced, voluntarily. Of course. nearly S7.25O.-
600. These two changes very nearly onset
each other in the deposits and in conse-
auence nearly all Of the increase In cash is
carried to surplus account. bringing that item
MP to $34. 1871. 525. The showing obviously
forsshadows a continuance OF the present
--t M. uA@ ~~ fhA
Stock Exchange has been comparatively
quiet The transactions in stocks have av-
eraged only about half q million shares
o day. Prices. however. have been we'll
maintained, as shown in detail In a subsequent
paragraph. 1t 10 significant that the decline In
the rates for money has been followed by an
increase OF nearly 80 per cent. In the dealings
in bonds as compared with last week. An In
crease In the investment demand for securities
is also reflected In higher prices for all high
grade bonds and guaranteed stocks.
As compared with the fnal prices OF last
Saturday. the list is higher with the
exception OF U. 8. Rubber. which Is az
q cent. lower. The more important net
advances are in Brooklyn Rapid Transit.
81 y cent. American Sugar Refining. TX;
Anaconda Mining. TX; American Tobacco. TX;
Peoples Gas. 7: Central Pacific, 5&; Federal
Steel common. 81. and the preferred. AZ:
Southern Pacific. 4; Colorado Fuel and Iron.
AZ: American Steel and Wire. an; Interna-
tional Paper. Manhattan Railway and Reading
second preferred. 2k each; Atchison preferred.
an: st. Louis Southwestern preferred. 2:
Tennessee Coal and Iron. 1H; st. Paul and
Louisville and Nashville. * each Rock Island.
Continental Tobacco and n. Y. Central. ~
each: Union Pacific. TX: Pennsylvania Rail-
road. X: Metropolitan Street Railway. X;
Northern Pacific. L: Reading first preferred
and Union Pacific. u each American Tin Plate
and Burlington and Quincy. y each. and
Chesapeake and Ohio. u a cent.
New York stock ExchanEe-saIe May 20.
UNITED STATES N STATE BONDS I'm S1.ooosl.
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