The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-22
PLAGUE SCARE IN STOCKS
The Market Depressed by the Stu
alton at San Francisco.
No Danger to BE Apprchcndcd-
simply Another Illustration of
Conditions-LosscsN Noted in Trans
continental Issues and Grnngers.

NEW YORK, May 21.-Today's stock
market was far from bearing out the
promises set forth in the closing dealings
of last week. In place of the buoyancy
that then prevailed, the market had a
generally weak tone, and il showed ever
In the standard stocks a number Of ma
terial declines.
Apparently the chief influence in the
utter reversal of tone shown by the mar
ket, was the disquieting news from San
Francisco In regard TO the outbreak of
the bubonic plague. That this disease will
ever obtain any great foothold in this
country would appear to be most inprob-
able, but at the present time Wall Street
IS in a humor to make the most of all I'M
toward developments. and on this accoun:
the Pacific stocks. and, in fact, all of the
franscontinental issues, were sharply de-
pressed. while almost equally severe losses
were shown in the granger shares and in
other stocks not directly affected.
The report that the State OF Texas had
imposed a quarantine against the Pacific
Slope was the most effective argument in
today's decline as 1t was feared that other
States might follow up the example set by
TexaS with the effect, of course. OF seri-
Ously involving the whole industry OF
transportation.
London's attitude was also distinctly
disappointing, as in place of the buoyancy
that had been generally looked for in that
market today, fiat tone was reported
throughout, with particular weakness in
American stocks. Presumably the decline
in the latter quarter was chiefly owing TO
the reports regarding plague conditions in
San Francisco, and at any rate no other
reasons were given for the course OF
American stocks in London. Foreign
houses sold quite heavily here in the first
hour, but on balance the total sales
amounted to only about 1900 shares.
None of the influences which were cited
as effective In the recovery in prices late
In the week seemed TO carry any weight
at all today, and there were few new de-
velopments of any consequence. Money
and foreign exchange conditions were un-
altered and such returns OF railway traihc
as came TO hand were satisfactory enough.
1t is hardly necessary TO parhcuiarize in
regard 10 special movements in prices.
Sugar Refining advanced rather sharply
In the early dealings on the announcement
of the general advance made in the selling
rates for refined sugar. but the stock sub
sequently lost all OF its rise. In the rail-
way list the declines averaged in excess OF
one point, and more severe losses were
shown in the industrials and specialties.
Particularly severe declines appeared in
Federal Steel. National Tube, National
Steel. and American Steel and Wire, and
Tobacco stocks were sharply depressed on
what appeared to be fresh outbreak of
liquidation in their cases. The local trac-
tion issues participated in the general ten
dency of the market, with nothing particu-
larly new in the way of gossip attending
their course.
In the last hour of business the local
traction group developed particular
strength, with a noteworthy rise In Third
Avenue The advance in this quarter OF
the market seemed to lead to some cover
ing of short contracts in other directions.
In consequence of which portion OF the
DAVIS earlier losses were recovered.