The Saint Paul globe., 1900-05-22
BEAR RAIDS ON STOCKS
THEY WE'RE IS yearly EVERY
INSTANCE EAaIN EMILY Salts
FACTORY TO BEARS
---z-
MARKET WAS RATHER SOFT
Yielded Readily to the onslaughts
OF the Dealers Who Sought to
Weaken PFiees-Money
Biz Harder.
MARKET WAS RATHER SOFT
Bar silver. New york;. .sea .Sss as9A ps$ 56&
Call money, New York;.


NEW YORK, May 21.-The stock mar
ket was soft from the outset today, and
yielded readily to the assault of the bears.
There was no buying OF any Importance
perceivable and prices lost ground pretty
steadily all day, even on-a light volume of
trading. Late in the afternoon Third Ave-
nue. made a sudden advance of six points
and caused some uneaSineSS amongst the
room Shorts, who bought moderately to
cover But the rally was insignificant
outside of Metropolitan, Brooklyn Tran
sit, Sugar and Tobacco. The sudden up
ward movement in Third Avenue was IN
explained, except by last weeks move to
secure the discharge of the receiver and
the progress being made in the better
ment of the system. The long outstand-
ing short interest in the stock was aimed
a. by the advance.
The heavfness of the market during the
day reflected the keen disappointment
over the failure of last weeks encourag g.
ing developments to attract any outside
don especially had been looked to hope
fully take up American stocks, and the
early news from that quarter showing de-
clineS for the international stocks was a
disappointment. The sales for London ac-
count were not in large volume, but their
sentimental effect was visible and soon
overcame the strength In the few special
ties which attempted to make headWay
against the tide.
1t was clear that SPECTATORS who
bought stocks late last week counted upon
LONDON taxing them OH CH6lr nanQS a1ter
that market had subsided from it's hyster-
ical outburst over the relief of Mafeking.
But London shared with the continental
bourses a mood of depression. Interna-
tiOnal houses in Wall street. attributed
this to disappointment over the denial of
the report that President Kruger had
made humble advances for peace, and
Berlin advises reported fears of an out
break between Russia and Japan.
In the New York market the granger5
and the Pacifics were the first to show
acute signs of weakness, but ultimately
practically all of" the active railroad
stocks fell from + to- points below Sat
urday's close. Sugar rose at the opening
on the announcement of advances in the
price of refined Sugar, fbut 1t was sold in
such volume andsa with such confidence
the market. ~
The weakness in the wheat and cotton
markets was not without effect in Wall
street. In the money market the supply
Of mercantile paper. Is reported to be de-
creasing, owing to, the Setback to trade in
various lines. Bear operators profess to
fear that freight rates Will not hold in
view of the Iessenihg traffic. Grain traffic
is less than last year. n West bound mer-
chandise traffic is reported to be sufficient
to maintain earnings as yet above last
year, but current earnings In spite of the
higher rates in force are only slightly
above last year.
Bonds were much better sustained rela-
lively than stocks, though there were
Of idle funds seeking investment is max
ing some slight impression on the bond
market. Total sales par value, $2,066, 900.
United States ref. Is wi. declined 12 and
the new As, old As and 5s Il in the bid
price.
STOCK QUOTATIONS.
Furnished by Charles. H. F. Smith G.
Co, members of the New York Stock ex-
change, Pioneer Press building. who have
direct wires to Chicago and New York.
Closing prices are BID.