The evening times., 1899-05-11

The stock market this morning was
disappointment TO the Street generally at
the opening, though II was not possible.
up to Il o'clock. to say what the later de-
yelopments of the day were likely TO be.
The opening quotations were point or
more above the close last night in the ma
jority Of stocks. but heavy selling move
ment Immediately set in during which
reactions of one to two points occurred.
Later the market was inactive and seemed
likely to go a little lower on further re-
alizing and the indisposition OF the public
to buy stocks. 1t was said that Mr.. Flow
er was buying his stock at the opening,
but later he seemed to be satisfied with
the advances that had been made. Lon
don also was buyer of the international
stocks, though not as heavily as yesterday.
The hesitating market, of course, gave the
two factions the opportunity to make their
predictions. Careful people who have
been right on the market heretofore were
inclined to believe that the rally is not
yet over and that higher prices will be
seen before the end of the week, even il
there ia a temporary dip before that time.
Brooklyn Rapid Transit which has at
tracted most attention during the past
month was as wild and erratic today as at
any time heretofore. The stock went to
and fraction, all during the first half
hour. Later there was another rally and
another decline. The bulls are most conf
dent in their predictions of higher prices
for the stock and it seems likely that they
will prove right. The signing of the Ford
franchise bill may perhaps have a tempo
rary depressing effect, but the people who
buy on any such break will in all proba
bility be able to sell the stock at a much
higher figure.
The crop report is considered favorable
to stocks. The condition of wheat is a tri-
fle better than was expected and the acre.
age is somewhat larger than last year
which seems to insure fairly good crop.
The bears have been predicting almost no
crop whatever and the sentiment changed
radically when the figures were seen.
Wheat went of in price and the grangers
remained strong. 1t seems likely that this
will continue to have its bolstering infiu-
ence on railroad stocks generally and thus
on the entire list People will begin after
a while to realize that the crop will really
be harvested and the roads have grain to
haul. The opening figures on the grangers
were better than the closing prices last
night and although there was some re-
cession from the top quotations, It was
evident that there were people willing to
buy the stocks on any breaks.
Manhattan and Metropolitan were among
the weakest stocks on the list during the
early trading. apparently because of a de-
sire to discount the signing Of the Ford
bill by Governor Roosevelt Later both
stocks rallied well, and seemed inclined to
close the day with good gains. The talk
regarding Manhattan is especially favor
able. 1t has failed to advance as rapidly
as Brooklyn, but traders seem inclined for
this reason to buy 1t instead Of the latter
stock on the theory that 1t will follow
when Governor Flower has bought as much
Of his favorite as he wishes
The friends Of Pacific Mail are predicting
q move in that stock. It is said that the