The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-01
bears Still IN CONTROL
Heavy Selling by the Professionals
Causes Pressure.
London Influence Aids the Down
ward Noyement-DecIine in Penn
Sugar Refining shows Wild Fiuc-
tuations-Money Market Very Easy.

NEW YORK, April 30.-with the leopen-
ing OF business on the Stock Exchange
this morning there was little improvement
in the markets tendency as compared with
that prevailing at the close OF business last
week with very few exceptions the gen
eral market showed pressure which, while
rejecting sia,cT wholly operations for
professional account. was, nevertheless,
quite elective in the absence OF any con-
siderable outside support.
For the first time III a number of days
London houses were sellers on balan {
here, although the dealings for foreign ac-
tount were II very limited volume and
general apathy characterized the dealings
on the London Exchange, largely on ac-
count of the suspension of business to-
morrow over the May Day holiday.
The most important actual news bear
ing on any particular stock over Sunday
was that in regard TO the threatened labor
troubles on the New York Central Rail-
road. This information naturally made
that stock particularly weak, an opening
decline of over one point being noted in
that instance. Elsewhere in the railway
list declines which extended to one point
and over were the general :ule, although
little that was definite attended the move
menfs apart from those OF New York Cen
trail The decline in Pennsylvania was
probably owing to apprehensions that re-
Gently entertained expectations that the
dividend advanced would not be realized.
There was, however, an utter absence OF
news which would account for the more
pronounced movements that occurred else
where in the railway list.
Among the specialties and industrials
there were rather severe declines in Peo-
ples Gas. Brooklyn Rapid Transit. the
Tobacco stocks, National Tube, and most of
the other steel industTla The return
to the city OF the chairman Of the board
of directors of the American Steel and
Wire Company, together with his col
leagues, was greeted with only a small
amount of interest, notwithstanding the
prospective legal proceedings which are 10
be instituted against the Chicago coterie. g.
Sugar Refinin.: continued by far the most
conspicuous feature of the market. The
dealings in the stock were in enormous
tolume and the fluctuations We're unusually
violent, even for Sugar. AT the opening
of business the stock shot up rapidly, but
toward the noon hour it broke with par
ticular violence. 1t is fairly certain that
the general market will be substantially
benefited when the mystery behind the
current tremendous dealings and fluctua
lions in this stock is settled. 1t is still
that very serious endeavors to bring the
trade war to a conclusion are being under
taken, but so many similar efforts in the
same direction have met with failure that
the street is naturally skeptical as to the
results of the present undertaking.
Exceptions TO the general tendency of
the market were Missouri Pacific and other
Southwestern stocks. Missouri Pacific ad-
vanced very rapidly, although it subse-
quently lost most of its early gain. I'm
substantiated rumors of the entrance of
new and powerful interests into the direc-
torate of the company and other rumors
that dividend would be declared on the
stock attended the advance in that in
stance.
A number of generally strong statements
of railway traffic for various periods were
submitted today. The money market was
extremely easy and sterling exchange con-
ditions were not essentially altered. Trust
worthy estimates as to the amount Of geld
likely TO be shipped TO Europe this week
range frcm 81, SOC, 600 to So, 500, 000