The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-05-21
SUGAR IRREGULAR
Market Holds Steady
in Wall and State
Streets.
COPPER is FIRM.
Favorable New York Bank
Statement-News
and Notes.

There was little feature in stock mar
ket trading yesterday.
The market, both in New York and
Boston, maintained steadiness, and
barring irregularity in Sugar the fluc-
tuations in the two markets alike were
unimportant. Broadly speaking, Bos-
ton mining shares were steady, but
there was some favoring just at the
close, and much of the earlier gains
were lost. The bank statement came in
highly favorable, as was expected
Loans are reduced by $7,O0O0OO and
lawful money reserve increases even
more, while the small gain in deposits
permits the addition of practically the
whole gain in specie and legal tenders
to surplus or excess Of reserve over le-
gal requirements. The New York mar
ket did not respond to the exhibit for
the reason that the same was taken
for granted and presumably was dis
counted, the growing strength of the
bank reserves being one of the bases of
the rally after last Saturdays sharp
decline in the market. This rally aver
ages rs net for the week. Sugar had a
"
with closing but Il different from yes
terday; the other stocks moved slug
gishly, and Is Of the leading shares av-
eraged the same at the close as yester-
day.
Most of the important stocks scarcely
moved at the opening. The absence of
business in London left market without
its usual opening impetus. There was
some pressure to sell stocks affected by
f1,r,FfN ~ III
Brookly Transit dropping a point and
Metropolitan Street Railway IA Ana
conda rose well. The market continued
unsettled for a time, then moved up
words under the leadership of Sugar,
which rose 31a Anaconda improved 8
points in all, and Brooklyn Transit re-
covered to a point over Friday night.
Changes in the railways were slight,
the grangers advancing sharp frac-
lions. The specialties eased off at II
o'clock. but the general list held steady.
Bearish operators were apprehe0sive of
good bank statement, and prices
hardened in the absence Of pressure.
When there was no response to the I'M
expectedly good statement, the bears
attacked Brooklyn Transit, Sugar and
American Smelling, sending the first
down to 114h. The general list also
yielded, but so little stock came out
in most cases near to Friday nights
level The closing was dull and firm
with net changes small.
Boston started out with a good mar
ket in several of the copper stocks, and
with steadiness and even strength in
all of them, which conditions also ruled
in the general list. Just at the close
there was enough selling to take off
much of the earlier gains in the more
prominent specialties. United States
led4the mining shares. rising ss, to 251a,
but 1t receded to Is at the close; Utah
rose l, to ASH, falling back to 441a Par
rot gained IL. to 6614. closing at 651h;
Anaconda was up ~, at IS, following
the New York lead; Amalgamaaed was
firm 2n the curb. at 1902; Copper
Rangefwas up 1. at 80; Arnold ran off
H. to 1875, closing at Ia: Butte was /
lower, at 91ia. In all. some 1880 shares
Of mining stocks changed hands, or
fully one~half of the days total. Plant
ers' Compress touched 140, recedEHg to
1870; Stock Yards was firm, at 1874;
Boston Elevated was = better, at III;
Rubber gained rs. to AZ, closing at
ls1s; United States Oil was up e, at
471s; Mexican Telephone hardened u
70 (, and Chicago & West Michigan IS
Wers up Il more, at SO.