The age-herald., 1901-05-25
STOCKS VERY DULL LSPURTS Amount of Business Looked Like an Election Day Slump TOBACCO WAS THE FEATURE The Forecast of Strong Bank State ment Saturday Had a Beneficial
 Effect In the Closing
 Trade.

New York, May 24.-A final squirt of ac- hvity and strength in the stock market was all that saved the day from being the dullest in the amount of business done since the November election. As 1t was business was well down towards the minimum and was besides largely congest- ed in few stocks. The Tobacco stocks American and Continental, were the feature of the. market The volume of business in them grew as the advance progressed and all of the room traders hungry for a stock that would move easi- ly, tailed on to the movement By build Ing up prices smartly they ascertained that very few selling orders for the stock were in the market above the prevailing level. These technical conditions were re- Bponsible for the movement of stocks so far as any news that was published would Indicate.
 Something is made of the fact that the new tobacco company which is being or ganized has representatives in 1t who organized an opposition company once be- fore which was absorbed in short time by the American Company. The days gain registered for American Tobacco was eight points and for Continental Tobacco f%. The final strength of the market was due to this movement and to the late ac- centuation of strength in other stocks which had shown signs of flrmness and strength earlier in the day. The weak points were also pulled up. so that the losses, which were at one time very gen. eral were either wiped out or greatly re- huced all around.
 The Fries, the Wabash Missouri Pacific and Atchison were good points of resis- tance all day. The story persisted that efforts were making to secure @ trunk line outlet for the Gould Southwestern railroads and Wabash; that the great trunk line proprietors had protested against this project and that 1t had been threatened that Atchison would be ab- sorbed by the Pennsylvania in retaliation. This story and it's variations will be found closely related to whatever strength was shown in the days market The movement of Union Pacific was a notable influence on the whole market, It's break to 9S being the principal factor in the early weakness of the market and it's recovery at the close largely re- iieving the suppression. The forecast of a strong bank statement promising a re- cuperation in cash by the banks of nearly s5,000,000 was a revivifying influence, al- though there has been no lack of money to loan. The fact that no further gold was-engaged for export also was strong factor, not only for it's immediate bear Ing upon the situation, but in it's larger significance as indicating relaxation in the whole foreign situation.
 The cessation of the urgent demand for Northern Pacific also relieed apprehen- sion The result was an active and firm close in the stock market after day of feeble and desultory fluctuations.
 The bond market was irregular and only moderately active. Total sales, par value, b4,790,000.
 United States new As advanced & per eent on the last call.
 New York Stock Market.
 By Private Wire to Murphy & Go.