Evening star., 1901-05-24
Stocks Were Rather Irregular, Finally
Becoming Dull.
LITTLE DOING IN LONDON
Bears Made Several Efforts to
Break Prices.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, May 2i-Operatious on tbe
London stock exchange today were only ON
moderate scale on account OF tho N-bft-
suntide holidays. which last over Saturl -
and Monday. business Therefore yiu lot
be actively resumed until TUESDAY next.
American shares In that market showed ad-
vances of from Il to = per cent over our
closing prices of yesterday
The opening trading in the local stock
market failed to show much nervousness
over the sudden weakness developei In the
late trading caused by the sharp squirt I'm
Northern Pacific. which stock sold u, a.
200 yesterday. While the market at the
start showed irregular fractional changes
with the general level of prices below the
closing OF last night. improvements imme-
diateiy occurred in some of the speciaItics,
such as Missouri Pacific, Union Pacific.
Reading common and second preferred TIE
advances extended to per cent and over
In the industrial group the Tobacco stocks
were features of strength American To-
bacco. after opening at 12GI2. sold up 70
l3O, and Continental Tobacco gained a
point.
After the first half hour Of trading how
ever. the room traders. helped by the large
professional bear operators, brought about
Union Pacific and st. Paul. both Of which
stocks quickly lost 2 per cent. and the
general list in sympathy, declined over l
per cent
deal of pressure. and good support in It
was lacking. Rock Island also eased or
rather quickly on small sales.
There was not much done in the local
traction shares, but what little business
there was I'm them appeared to be toward
lower quotations.
Sugar was inactive and without feature.
the stock following the general trend of
the market on light transa ctions.
A little after noon good rally occurred
in the general list, the more prominent
stocks advancing from 1 to 1l2 from the
lowest prices of the forenoon. This improve
ment was brought about by favorable
forecast OF tomorrow's bank statement. the
preliminary figures indicating a gain in
cash for the week Of about SIIsi 6a3 The :
loss to the banks up to the close of husi-
ness yesterday by gold exports this week
appears to have been only $4,000.
In these estimates of to"norrow'S bank
statement loans are expected u shpY -
decrease. while the large payments by the
sub-treasury yesterday will lac only par
TALLY covered by tomorrow's statement.
Another drive was made at prices he
tween the hours of l ana o'clock hut
the market after yielding slightly To this
pressure, became exceedingly dull. the only
activity being in the Tobacco issues and
l MON Pacific, the former shares advancing
over the highest prices of The day while
the latter stock shaded of tn about tho
lowest Of the earlier dealings
There were no transactions in Mort hoYn
Paclfic common stock up to O'clock; IL
was quoted at 172 and 25D. 1t was stated
that the principal outstanding short inter-
est IN this speciality here was asked to de-
liver the stock yesterday. and as the stock :
was not obtainable a settlement was ef-
fected on a cash basis.
Shortly after o'clock another rally set
in, the prospects of good bank statement
tomorrow being responsible for the same
While the market wears a professional
appearance, and is for that reason a rather
limited one, extensive reactions are n AZ
looked for as the crop prospects are good
and the crops in the southern central
states are pretty well made. as far as they
relate to wheat. In Kansas and southern
Missouri this is particularly true; also the
crop prospects in California are good