The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-05-26
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-
drcs-Revisw OF Trade.

New York. May 25.-Transactions in
stocks were on a larger scale and trad
ing showed more animation than for sew
a considerable outside interest in the mar
ket, especially in railroad stocks. but
operations continued still in. every part
Ia professional lines. 1t was q conflict
between the bulls and bears for supre-
macy and the bulls easily had the best
OF it. There were several conditions that
aroused apprehension on the part of the
bears, and they showed disposition to
cover short contracts from the outset.
Apparently there had been quiet pick
ing up of stocks for the long account in
the recent depression, and the holders
were as willing to take profits II they
could get them as the shorts. They pro-
ceeded therefore to bid up the market
and induced quite an active covering
movement for both accounts The decis-
ion of the stock exchange to keep closed
over a. double holiday from the coming
Saturday until Wednesday was motive
for closing up accounts. both long and
short. The market hesitated only mo-
nlentarily at the opening, at which time
low prices for the day were made In
nearly all cases. and then moved quite
strongly and confidently upward. There
were occasional pauses and setbacks and
some irreguiarity, and a realizing move
ment in the late dealings brought prices
generally below the high level. but very
substantial net gains remained In nearly
all cases. 1t has been obvious for sew
eral days that the short interest was be-
coming unw!eldy. and premeditated at
tempt was arranged to take the market
away from the shorts previous to me
coming holidays. Some of the factors
which assisted the bulls were the excel
lent reports Of railway earnings for the
third week in May which continued to
be received this morning. This was espe-
cially true of the Southwestern, of which
the shorts were rather free sellers yester-
day. The rather buoyant tendency of the
wheat market and continued crop scare
was therefore ignored and the grangers
and Southwesterns were quite freely
bought Reports were circulated with the
appearance Of authenticity that the divi-
deald disbursements for the current period
on the Atchison preferred stock had been
practically decided upon. The shorts,
who had sold on doubts of this, were
therefore driven to cover. The passage
OF the modified franchise BILL anchor
ating the conditions imposed upon New
York municipal corporations. lifted that
group OF stocks quite markedly. London
was buyer of stocks to a moderate ex-
tent, and this was an influence in the
easier tone of sterling exchange which
relieved some slight apprehension of pos
sible gold export Sugar and the eoalers
were easily manipulated for a rise by
the bulls, and there were evidences of
strength in Southern Pacific and Central
Pacific. These conditions were too much
for the equanimity of the beass and they
Joined in the buying movement with re-
suits above indicated. Pressed steel was
the most conspicuous exception to the
prevailing strength. There was a contin-
ued large demand for al, available classes
of bonds, governments included. and
prices are higher all around. Total sales,
par value, s4.643.000
u. S. IS, co1ipon, and the As advanced
Il and the 81 u in the bid price.