The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-16
PLENTY OF CASH BACK OF THE
FLOWER HOLDINGS GAVE THE
HEARS A QUIETUs
PRICES FIRM ALL ROUND
Saturdays Scare Completely EIim-
mated by the Firmness of the
Bull. Element-Some of the Adj
vances Made Were of the Sensa-
Were of the BuIIish Sort, Too.


NEW YORK, May l5.-Opening quota
lions in the stock market were a vigorous
notice served on all parties that ample
capital was Forthcoming to take up all
offerings which timid holders of the So
called Flower stocks choose to offer, and
also to the bears that powerful weapons
were at hand to resist any onslaught
made by them. The different member6s
of the Flower group were up 10 to 20
points at the opening, the favorites of the
late fnancier. Brooklyn Transit and
Peoples Gas leading the advance. New
York Air Brake, in Its usual volatile
manner. rose exceptionally IL points in
the first few minutes. These aggressive
tactics served to dissipate any uneasi-
ness in the speculative mind remaining
after the violent fluctuations In Satur-
days market Early quotations from
London also made 1t evident that there
We're large reserves of capital prepared to
take advantage of any further sympa-
thetfc declines in the general list of Sc
curities The buying there before the
opening here was not only for New York
account, presumably with the purpose of
supporting values, but also on orders
from Scotland, Germany and Holland, as
well as a local English demand.
The high opening here, especially in the
Flower stocks, invited a heavy volume
of offerings, but they were absorbed with
out tue Sll3nIeSC D6S1lduOn, ana IN d
short time they materially decreased.
The pressure of liquidation being relieved.
the vigor of the efforts at support was
somewhat relaxed. Prices having failed
to break, the bargain hunters were de-
tered from buying and the market fell
into quiet state. A brisk upward move
ment in Sugar to 1873, ard a lively de-
mand for the Pacifics and the grangers
caused a general stiffening again through
liSt
transactions discouraged continuance
of the bull speculation and the market
fell back into comparative inactivity.
The movement of prices became de-
cidedly irregular, some of the more OBJ
scure specialties ffuctuating quite widely,
but in the contrary directions This was
notably the case amongst the iron and
steel stocks Tennessee Coal, Colorado
Fuel and National Steel preferred being
notably weak. american smelters and
the coalers were also consistently weak.
This tendency and the apparent with
drawal. of supporting orders invited
raid by the bears late in the day, direct
ed particularly against Metropolitan
Street Railway, which as raided down
three points. The grangers and Pacifcs
Also suffered decline, except Central and
Southern Pacific, which were consistently
strong. Metropolitan Street Railway rail-
lied very strongly points, the local trac-
ton shares responding in sympathy.
The bear traders covered, making the
closing firm. The conscious changes were
in the Flower stocks which all closed
higher, though below the best of the day.
Otherwise changes An the prominent
stocks were not large. Net gains pre-
dominated.
In the bond market there were some
very heavy .takinRS of Baltimore & Chic
As when issued. Dealings elsewhere were
H. TN1k-.
600. U. S. IS advanced Is IN bid price.
Furnished by Charles H. F. Smith &
Co., members of the New York stock ex-
change, Pioneer Press building, who have
Closing prices are bid: