The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-05-08
FtuauCtnt.
THE STOCK MARK ET.
several Points of weakness Yesterday

Several Points of Weakness Yesterday.
| New York, May There were sew
eral points Of weakness In the stock
market to-day and these were sufficient
to turn the room traders to the bear side
of the market. The operations Of this
professional element were the only ones
apparent outside of a few stocks. The
demand for stocks continued quite in
significant so that the moderate Offer
ings, in large part for the short ac-
count of room traders made an impress
sion easily upon prices But the decline
failed to induce any liquidation and
prices readily rallied when the bears
came to cover. The steel industrials
We're the most conspicuous in the trad
ing and were weak from the opening
The reported closing of mill of the
Federal Steel company induced the ear
! ly decline, which was languid and slug
gish. The announcement of the resig
nation from the board Of directors Of
the American Steel and Wire company
of the Seligman representatives and
their statement of irreconcilable objec-
lions to Chairman Gates and his policy
caused sharp further break In the
steel group, in which Federal Steel was
rather more affected than Steel and
Wire. Pressed Steel Car and American
Smelling We're exceptions in the group,
the former rising over point.
Long Island broke sharply after its
recent notable advance on the absorp-
ton by Pennsylvania, and closed 9ia
points lower than Saturday. The bonds
of the company were also heavy. The
reaction was attributed to speculative
profit taking and occurred on compare
lively small dealings.
In the railroad list st. Paul, Pennsyl-
vania, Union Pacific and Baltimore and
Ohio had rather a wide fall on what
looked like getting go of a speculative
account There were heavy blocks Of
fered of all these. There was a slight
show of strength in spots at the opening
in response to London's encouragement
over South African news, but the rise
was but momentary
The rally after the break in the steel
stocks was not well held, the members
of that group generally falling again to
the lowest at the close, which was heavy
throughout, General Electric advanced
nearly points in the morning, but
saved only one point on the day.
The money market continued very
easy and further gold exports to Paris
are expected. 1T is not believed that
any gold will go to London in the pres
ent conditions and at the present level
Of exchange, which declined to-day both
for sterling and for Paris cheques. Els
Inmates of the amount to go on Thurs
day to Paris run up to $5,000,000 but no
announcements We're made to-day of
enga gements The bear traders during
the day professed uneasiness over the
gold movement, as well as over labor
difficulties at various points, the pen
dency of the presidential campaign and
the reactionary course of business,
which, they argue, must have its effect
on railroad earnings.
Railroad bonds showed a yielding ten
dency in sympathy with stocks. The |
total sales par value aggregated S1,795,-
BOO.
United States new fours advanced q
and the refunding twos when issued, |
threes and old tours declined a in the |
bid price.
MN TORK STOCK N tERhT
Dprntng. Highest, Lowest Quotations
On the New York Stock Exchange, reported
by Prince " Whitley, BYoAers, 10 Ceutes ,
Street, New Haven.