The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-20
No OUTSIDE DEMAND
Stock Market Is Abandoned
TO the Professionals.
MONEY CONTINUES EASY
Interior Reports Steady De-
mand for Investment

New York, May 1e.-The stock market
was abandoned almost wholly TO profess
sional traders on the floor of the exchange.
No outside demand OF any Importance was
apparent at any point on the list. Prices
were marked up sharply at the opening on
demand from the shorts who sold the
specialties yesterday. Sugar, Brooklyn
Transit and the Flower group generally
showed the largest gains, the demand be-
Anaconda Mining showed strength both in
London and here. which was well main
tanned throughout the day, and the tone
Of Manhattan as also firm without any
published news TO account for it. The
opening demand from the shorts was soon
satisfied. and prices slipped away, but
without any pressure to sell The dizziness
at the decline seemed TO impress the pro-
fessionals with the idea that the reaction
was over, and they turned buyers, again
marking prices up. especially in Sugar
and Brooklyn Transit. But 1t became
quickly evident that the large bull inter-
ests which were active early in the week
were not prepared to resume oprations,
and the advance did not hold. The alb
seRce OF any demand for stocks caused
the traders to turn bears again and the
market sagged and drifted quite aimless-
ly for the balance of the day. bringing
prices in a great many cases back TO about
last nights level There was rather
sharp decline in Tobacco in the last hour.
with which the professionals associated
rumors regarding the health OF a member
of the company. The large demand for
railroad stocks which was manifest in
yesterdays trading was lacking today and
that department Of the market was very
dull comparatively but quite firm at some
points. The grangers showed weakness.
which is attributed to the continued ru-
mors of crop damage. London bought a
few stocks in this market, but took no
active part wing to the pending holidays
there. In spite the small buying by Lon
don, sterling exchange hardened an addi-
tional fraction, the demand rate showing
an advance Of 7-Sc on the pound since
last week. Money continued easy and es
Inmates Of tomorrow's bank statement are
of a large increase in cash reserves, as
the market has gained heavily from the
sub-treasury on account Of the final pay
ment to the order OF the Spanish govern
ment on Monday OF 100000 and also by
receipts from the interior. Reports from
interior points are of large cash reserves
on hand and a steady demand for safe in
vestment.
The total sales OF stocks today weee 49,
4s0 shares. including: American S. and W.
$500; American Sugar Refining. $500;
American Tobacco, 200; Anaconda. 1890;
Atchison preferred So,SO0: Brooklyn Tran
sit, 1920; Brunswick. 1900; Central Pa
cific, 6100; Chicago. Burlington and
quincy. 1920; Central Tobacco. . 200; Fed
eral Steel $500; Manhattan Consolidated,
100; Metropolitan Street Railway 5000:
NJ ST P & s. S. NJ. 100; do preferred.
$3.50; Missouri Pacific. 1900; New York
Central, 400; North American. 1O.4O0;
Northern. Pacific, 1000: PENNSYLVANIA. g.
100; Peoples Gas. 10 Oo0: Reading Second
preferred. 1890; Rock Island. 5000: St
Paul, 1880: Southern Pacific. 100; Union
Pacific, $500; United States Rut-r 400