The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-17
BEARS WERE PUZZLED BY THE
ACTIONS OF THE HACKERS OK
FLOWER STOCKS
MARKET HELD ITS OWN
There Was uninterrupted Absorp-
ton of Long Line of Stocks
Throughout the Day London
Proved Scarcely "a Factor I'm the
flied by Spanish Indemnity.

NEW YORK May 16.-Today's market
was remarkably quiet after the recent ex-
element, the total sales being little mo
than half the number of shares sold dur
ing the panicky two hours of Saturday.
Apparently there was no such thing as a
bear speculator in existence, with the
exception of slight irregularity in prices
at the opening, and a slight relaxation in
values in the last hour of the market,
the course of prices was steadily held or
moved increasingly upwards. This was
rather contrary to the general expecta-
ton which was that prices would tend
downward in the absence of buying by
shorts, who were largely closed out by
yesterdays rise and with a less strenuous
support from the powerful alliance OF
capitalists who came to the rescue of the
market. This combination was be-
heved to be simply for the purpose OF
sustaining the market against any pre-
cipitate attempt at liquidation. The bull
movement which the late Mr.. Flower and
his associates had inaugurated previous
to his death was felt to be bold undcr
existing conditions and-it continuance In
full force was hardly looked for. Under
the circumstances there seemed a fair
probability that some of the uncertainties
incident to the season might cause re-
dictionary tendency for time But the
professional traders, after the early
transactions, took the long side of the
market and there was uninterrupted alb
sorption of an extremely varied list of
stocks throughout the day. Any inter-
ruption to the advance threw the market
into lethargy, and nothing but re-
sumption of the rise brought any ac-
tivity.
London was scarcely a factor either
way, the market there being negls cted
on account of uneasiness over the situa-
China oil Oh hor pir,er ;,,A -
rate of exchange had no other exp ana
ton than this same uneasiness Money
In New York, however, worked decidedly
easier under the influence of receipts from
the interior The money market bene-
f1tted also from yesterdays payms mt of
the final 100000 installment to Spain.
The lower stocks, especially Peoples Gas
and Brooklyn Transit, enjoyed the great
est advantage in the days movement,
but there were notable advances also in
the stocks OF other franchise tax bills
STOCKS of the various steel and iron COM
panles were also strong, and there was
activity and strength in Chicago Ter
m1nal. In the railway list Central an1
Southern Pacific rose nearly per cent
on belief of a beneficial effect of the
unification of the system A number of
other railroads advanced point or over
and Sugar is up points for the day To-
bacco gained 51a. The closing was near
the top, firm but quiet.
The advancing tendency of prices was
marked also in the bond department.
There was heavy absorption of Rock
Island As and the Atchison adjustment
As and Wisconsin Central lists were also
strong and active The total sales were
$S,77o,oeO. U. S. So declined u in the bid
price
STOCKS.
Furnished by Charles H F. Smith g.
Co, members of the New York stock ex-
change, Pioneer. Press building, who have
special wires to Chicago and New York
closing prices are bid: