New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-05-15
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market has lost the buoyancy and
animation that marked the course Of trading
FOR so many weeks prior 10 last Thursdays
breakdown in prices. In yesterdays trading
there was a big falling off in the volume Of
business as compared with recent heavy totals,
and a decided tendency toward lower quota
tions The market looked sick" 1t lacked
snap. and IL presented no indication Of a re-
sumption Of bull activity. Many stocks recorded
sharp declines extending in some cases 10 more
than 6 points, while at the close the general
level Of values was well under Mondays final
figures There were no developments affecting
speculation. but the situation among the war
ring railway interests and the state of despond-
ency into which the speculative.public has been
forced through heavy market losses were ade-
ouate reasons for the days sagging movement.
Substantial market interests who through the
exigencies Of the panic market We're forced 10
take more stock than they ordinarily care 10
carry were quiet sellers yesterday. while pro-
fessional traders Were active on the bear side
ana confident that the opportunity for a bear
campaign had arrived. The markets power OF
absorption was poor. On the decline some in
vestment buying was reported. and in a few
cases an active demand was noted for shares
that are selling at bargain levels.
A severe break in Union Pacific was the strik-
the decline was said 10 be for the account Of
controlling interests. but information regarding
the selling could not be obtained. II was said.
however. that heavy liquidation in this stock
as well as in Atchison, St Paul. Rock Island
and United States Steel was for the account Of
Chicago operators who the wrong side
Of the Northern Pacific corner" The pressure
OF iiquidating sales in the shares named brought
stock out throughout the list, and traders were
active in offering securities down for the pur-
pose Of catching stop loss orders. Advantage
was taken of all strong points to sell long
stock The Street was distinctly bearish at the
close, and predictions of lower quotations were
freely made. In some quarters Of the Street
a trading market only is expected for some time
10 come while the general opinion does not
favor an active bull market again this spring.
Wall Street opinion is subject TO sudden changes.
and in the present somewhat demoralized con-
dition of sentiment too much confidence should
not be placed in passing market views.
Western houses were heavy sellers throughout
the day Many sensational net losses We're made,
as for instance, ID points in Consolidated Gas
and IA points in Union Pacific. st. Paul lost
nearly Q points, Rock Island . points, Atchison
81. Delaware and Hudson and Missouri Pa
cihc Z The coal shares were weak features
with heavy liquidation in the Erie issues. Anal
gamated Copper Sugar Refining and the Steel
shares were the conspicuous weak spots in the
industrial list international Paper preferred
closing at a net gain Of Ia per cent. Most Of
The davis business in call money was at , per
cent II is expected that gold will be shipped to
Paris tomorrow.