The times. [volume] (Richmond, Va.) 1890-1903, 1899-06-02
THE BEARS NOT
So AGGRESSIVE.
Although They Succeeded in Still
Forcing Down Prices.
4 RALLY TOWARDS THE CLOSE
Improved the Tone Of Stocks TO Some
Extent and Late Prices WcrJ Ret
tor-Bonds Were sympathetic
But No Conspicuous Losses.

NOV YORK Jiino THE bears u,ado
sohic further progress iu forcing prices
No NJ loMef leVei to-day, but they were by
no means Ia so aggressive and confident
mood as yesterday Thee was very
hessVy covering of short contracts durinq
no course on tho day and last prices are
materially above the lowest. even i'm those
Stocks which show the heaviest net losses
ne bears met determined resistance in
some Of the stocks which have hitherto
proved most Vulnerable 10 their attach.
ne latter part Of the dav showed q dis
uhcuy improved tone ana an upward ten
ucncy or prices with no disposition appa-
rent from the bear faction % make further
ventures for the present. After the open-
ing dip in prices there was the usual pro-
lessional covering, designed TO meet the
orders or outside operators. The result
ing rally was short lived. and the bear
party tnen made their demonstration ia
force They brought out heavy liquida-
tlon In the Tobacco stocks Western
Union Metropolitan street railway, Man
haitian and Brooklyn Transit and ex-
tended their operations In spite of the
weakness OF the wheat market TO the
granger group. The Union Pacific and
Northern Pacific stocks were savaqelv
attacked simultaneously with the appear
ance OF the statement that Union Pacific
net earnings for April showed a decrease
or over $1,000 compared with the cor
responding period last year. Coupled with
a similarly poor statement Of Northern
Iaclnc earnings which appeared ycstor-
day, this caused a break I'm the stocks
OF the two companies ranging from j in
Northern Pacific M 10 29s iu Union Pa
cihc. The extreme decline In METROPOLITAN
was points. The continued weakness of
AmalgHmatcd Copper, which sold down to
81 on odd lots In the outside market
served 70 encourage the bears as indicat-
ing an abandonment of purpose on the
part Of the powerful interests behind that
property 10 support the price no longer.
There were several developments, how
ever. during tho day, which served TO dis
slpate the bears.
Tho yellOw-fever scale and roads I'm the
territory affected were firmly held an day.
London was larger buyer Of Louisville.
IN spite Of other elements Of weakness i'm
that market. This and the easing Off IN
call money In London after the settle
ment caused an easier tone I'm the sterl-
ing exchange market here. and so mit-
gated yesterdays apprehensiOns Of imme-
date gold exports.
The reported large selling of wheat for
southwestern account helped TO keep the
railroad stocks Of that region steady.
There were reports Of favorable cOndi-
tons and prospects I'm tho anthracite
trade. Scrutiny Of the Union Pacific
statement showed that the decrease i'm
April net earnings was accounted for
more than twice over by an increase In
operating expenses, much OF which was
understood TO be going into permanent
improvements and bettcrmonfs. There
was evidence also of positive strength in
Sugar, Rubber and the Smelling stocks.
When Metropolitan street railway sud-
denly bounded upwards az time 10 2tb
the bears were quick 10 take alarm. and
other conditions also pointing a parning.
they rushed to cover. The extreme gains
from the low point were i'm metropolitan.
z points: Sugar. q. American Tobacco.
9ia. Continental Tobacco and American
Tobacco. each: Brooklyn Transit, 2i2;
Burlington nearly points and many
other stocks point or over.
There was an easy tone 10 the bond |
market I'm sympathy with stocks but |
losses were not so conspicuous as IN |
stocks. Total sales. SlSlo0o0. United |
states now As advanced * and the old |
as registered u in the bid price.
The total sales of stocks to-day were |
Gf370O shares. including Atchison pre- |
fcrrod. 23.2G5. Burlington. 9O,S20; Louis |
willie and Nashville. 1880, Manhattan |
90 $50. Metropolitan. 1879; Reading first |
preferred. 6 800: Missouri Pacific S,42j; |
New work Central. 7475; Northern Pa |
cifc. u 500 do preferred. 5.O52; ontario |
and Western. 100. Rock Island. $50; |
Union Pacific 1905; St. Paul. 17525; |
Southern Pacific 500: Southern railway |
: 80: Union Pacific preferred. 9Sl0 !
Aworic-0 steel 1870; Paper, COOS. To- |
hacco. 1870: Federal Steel, 24.4J0: DO |
preferred 9OSO. Pconle's Gas. 2l.Slo; |
BROOKLYN Transit GG.S95. Continental To- |
hacco. e2CoO. sugar. ~ SG4: Tennessee |
Coal and Iron. G470. Rubber. $3.50, Con-
tinental Tobacco preferred. $50; west |
crn Union. 500.
,ro>-r-x- sNrr, r-VC,rr ANCT Money on |