The daily morning journal and courier., 1901-05-28
Fi,ra1rcia1.
 HI E STOCK M4RKE Fl.
small Days Busin ess Yesterday.

New York, May 27.-To-day business in the stock market was the smallest for any full day since election day last November. There was nothing in the market to indicate any outside in terest, either speculative or investment The bond market shared in the dull ness of the stock market. Profession al traders made futile attempts to force a movement of stock prices, but in covering their contracts the move ment was undone again. There was a slight hardening of prices early in sympathy with the movement in the tobaccOs, and then period of pretty general weakness. The fact that there was general hardening again before the close showed clearly that this weakness was largely due to selling by the bears. Recoveries were not com- pete in the general list and net losses are the rule in stocks that were traded in. These loses represent the gravitat- ing tendency of the market from imam imation as there was no active liqui- dation going on, such as was evident from time to time last week, and which found its natural reflection in the large liquidation of loans shown by the Sat- urday bank statement. The movement in the tobacco stocks was the only thing worthy of special notice in the days trading. It was unexplained ex- cept by the persistence of recently cur rent rumors of a consolidation of all the tobacco interests. The movement came to halt and suffered some reae- tion on the fxst announcement of the supreme courts decision in the Porto Rico cases, owing to the confusion and doubt. as to the scope and bearing of the decisions. But Continental Tobacco held stubbornly, and rose to the high est in the late dealings, closing at the top 51a points over Saturday, Amer ican Tobacco's net gain was 3%. The weakness of Sugar was perhaps the ef- feet of the decision, although the trouble with the importers of refined sugar has affected the stock. Lacka- wanna moved up conspicuously points after the opening reaction on light transactions and. without explanation. There was besides a gain in Twin City Rapid Transit of As, North American 4, Laclede Gas 3, Minneapolis and St Louis 2, Standard Rope and Irvine 1ss, and U. S. Leather l. Amalgamated Copper was under some pressure and fell at one time 2% Late in the day there were two transactions of 100 shares each in Northern Pacific at 1S0 compared with 200 on Saturday The Northern Pacific situation is still a disturbing influence, and the failure to relax the close holding of the stock on the part of any of the interests con- cerned keeps alive apprehension on the subject. Although the foreign markets were all closed to-day on account of the Whitsuntide holidays, there was a good demand for exchange from arbi- trage houses said to be in preparation for the stock exchange settlement in London in the latter part of this week. The continued demand for exchange from these sources attracts increasing attention to the heavy return of Amer ican securities to the home market. The money market showed increasing ease and it is the general expectation that further gold will go out to France this week.
 There was a small business in bonds with an irregular movement of prices. Total sales par value $2,2OO,00O.
 U. s. bond were all unchanged on the last call.
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