The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-26
TRANSACTIONS WE'RE ON MUCH
LARGER SCALE THAN
RECENTLY
ACTIVE OUTSIDE INTEREST
Excellent Reports of Railroad
Earnings Helped That Group
Rather Buoyant Tendency of the
Wheat Market Was Also u Bull
Were Easily Manipulated.

| NEW YORK, May 25-Transactions In
| stocks were on larger scale and trad
| ing showed more animation than for sew
eral days past. There were evidences of
active outside interest in the market, es-
peciaily in railroad stocks, but operations
continued still in very large part in pro-
! fessional hands. 1t was a conflict be-
tween the bulls and bears for supremacy
| and the bulls easily had the best of it.
! There were several things that aroused
| apprehension on the part of the bears
and they showed a disposition to cover
| short contracts from the outset.
Apparently there had been a quiet pick
ing up of stocks for the long account In
| the recent depression, and the holders
were as willing to take profits If they
! could get them as the shorts. They
| proceeded therefore to bid up the market
and induced quite an active covering
movement for both accounts. The decis-
| ion of the stock exchange to be closed
over a double holiday from the coming
Saturday until Wednesday was a motive
! for closing up accounts both long and
| short. The market hestated only mo-
mentarily at the opening, at which time
| low prices for the day were made. in
! nearly all cases and then moved quite
| strongly and confidently upwards. There
were occasional pauses and setbacks and
| some irregularity and a realizing move
ment in the late dealings brought prices
| generally below the high level, but very
| substantial net gains remained in nearly
| all cases. 1t has been obvious for sew
eral days that the short interests were
becoming rather unweildly and pre-
| meditated attempt was organized to take
the market away from the shorts pre-
! vious to the coming holidays.
Some of the factors which assisted the
bulls were the excellent reports of rail-
road earnings for the third week In away
which continued to be received this
morning. This was especially true of
| the Southwestern roads, of which the
shorts were rather free sellers yesterday.
The rather buoyant tendency of the
wheat market on continued crop scare
| was therefore ignored and the grangers
| and Southwesterns were quite freely
| bought. Reports were circulated with
the appearance of authenticity that the
| dividend disbursements for the current
period on the Atchison preferred stock
had been practically decided upon. The
shorts who had sold on doubts of this
| were therefore driven to cover.
The passage of the modified Ford fran
chise bill, ameliorating the conditions i'm
| posed upon New York municipal corpor-
atoms lifted that group of stocks quite
markedly. The London market was
buyer of stocks to a moderate extent
and this was reflected in the easier tone
of sterling exchange which relieved some
apprehension of possible gold exports.
Sugar and the Coalers were easily man
ipulated for a rise by the bulls and there
were evidences of strength in Southern
Pacific and Central Pacific. These con-
| ditions were too much for the equanimity
[ of the bears and they Joined in the buy
/ ing movement with results as above. In
/ dicated. Pressed Steel Car was the most
| conspicuous exception to the prevailing
| strength.
There was a continued large demand
/ for all available classes of bonds, gov
ernments included, and prices are high
I er all around. Total sales par values
( 81, 645, 600. United States threes and the
new tours, advanced, A.. and the. f1ves. Is
in the bid price. - -. .,s*-j=r
| STOCKS ..az.@
! Furnished. by Charles H. F. Smith g.
/ CO., members of the New York stock ex-
T change, Pioneer. Press building, who ;haye
i special wires to Chicago and New York.
+ Closing prices are bid: - 1854 OK