The times., 1901-05-27
STOCK MARKET COMMENT
Dullness the Characteristic of the
Past Weeks Business.
Smallest Sales Since January 1.-The
Outlook for Continuance of In
activity-wnII street Men Leaving
for summer MIR. Keene's views.

for summer Mr.. Keenc's views.
NEW YORK. May 26.-Another week
has passed since the memorable May 9,
giving people seven days more in which
to catch their breath. do a little more
thinking, pull themselves together. and
get their bank accounts and their bal
ances with the brokers in shape, and still
the stock market shows few signs of re
stlming activity and buoyancy. a glance
over the list of final sales on Saturday,
compared with those of one week ago,
shows that the tendency of the market
during the past week has been downward,
though there are some remarkable eXcep-
tions to this rule
The general market has been inactive
and speculative interest in the movement
of values has diminished TO 4 degree that
is striking. The sales of stock for the
week have been less than for any week
preceding since January !. The falling
off in trading has, as usual, been reflected
in the decline in the price of stock ex-
change seats. two of which were sold for
$50 600, or 81, ,0O0 less than the high record
made during the boom Conservative
bankers and brokers, as rule, are not
dissatisfied with the tendencies of pres
ent conditions in Wall Street.
The market is now believed to be in a
safer position than it has been for several
months. 1t is good trading market. and
values are about on a level warranted by
the statistical position of the various
properties. Very few serious results have
come from the panic of May 9, and the
benefits of the sudden repression of the
wild speculative fever with which the pub
lie had become possessed have been many.
Business conditions are very good
throughout the country, and easy money
win probably be the rule throughout the
summer. The talk of heavy gold exports
proved to have been unfounded, though
there is not much doubt that there will
be further shipments during the next fort
night.
On the whole. however, the outlook for
the coming summer is not for a bull mar
ket. Summer booms have been few and
far between in the stock market. Later
in the season if business prosperity con-
tinues to augment, and if the community
of interests plan develops satisfactorily,
it seems entirely likely that there may be
a further advance in prices in many quar-
ters OF the market.
a great many Wall Street people are 60
ins abroad Tuesdays steamer will take
away a number of the most active opera
of the week. and has not taken much in
terest in the market. He says that this
year the crop situation plays a more i'm
portant part in determining the course of
prices than ordinarily. II the prospects
are promising he sees no reason why Wall
Street should not see a market OF some
dimensions and much strength in the late
summer and FAN.
The following imaginative remarks on
the market, printed in the World today,
ar fsnFn rod rah lnf of Ttng4l
authentic information contained in them
as for their value as illustrating the wild
guesses that Wall Street writers recently
have been persuaded to substitute for in
formation:
The stock market during the week just
closed in Vail Street has had few inter
esting phases aside from the moves and
counter-moYes of the Rockefeller-Gould
and the NandeTbilt-Cassatt interests who
are at loggerheads over the attempt of
the former TO gain an entrance to the
Atlantic seaboard for their AfissouTi-Pa-
cite trans-continental line. The activity
and strength OF the Erie and Lackawanna
issues have been attributed to buying Of
the Rockefel!er-Gould brokers, while buy
ing Of Atchison has been traced directly
TO interests close TO the Pennsylvania
Railroad.
There is now no longer any doubt that
-dr. Gould and Mr.. Rockefeller are seri-
Gus in their determination to build up a
through line from the Golden Gate TO the
Atlantic Coast, and that II is their in
:entlon to effect an entrance into the
port OF New York They have made a
determined effort to get control of the
Delaware, Lackawanna and Western
Railroad, IN which Mr.. Rockefeller Is
already a power, and it is not altogether
certain that at the next election they
may not be able to show sufficient
strength to control the policy Of the road.
If, however, they should fail, ii is said
that so determined are they 10 reach the
seaboard they viii, if necessary, carry
out AIr. Carnegies s original plan TO
parallel the Pennsylvania Railroad from
Pittsburg TO New York DEVELOPMENTS
during the week have made il very plain
that Mr.. Rockefeller and Mr.. Gould have
a close ally in Andrew Carnegie. Those
who know Mr.. Carnegie express the con-
yictiOn that when he sold out his interest
10 the United States Steel Corporation he
had no intention whatever Of devoting
all of his declining years exclusively TO
his charities.
For q quarter of a century Mr. Car
Hegie has been complaining OF the exact
ing policy and oppressive tariffs Of the
Bennsyl ylVania Railroad. II has long been
his dr. TO construct a line that would
destroy its monopoly Of the business OF
the coal and iron fields Of Pennsylvania. |
While he agreed TO retire permanently |
from the steel business, il is said that he |
refused to commit himself positively TO /
the abandonment Of his railroad scheme. |
Many far-seeing people have detected, as |
they believe, the hand Of Carnegie in Al |
bert JOhnSOn's ambitious scheme to build !
7
and and an air line from its terminal in |
Richmond TO Philadelphia, which is the |
shortest route to the Delaware River by I
many miles The movements OF Mr /
Gould surveyors at Piutsburg during the /
week have been along the lines formerly /
mapped out by Nr. Carnegie, and even |
the most conservative railroad men are |
free 10 admit that the Gould plan would |
at least have his strong sympathy. I'm |
portant developments in the railroad |
world are looked for by those who have /
studied the situation"
Transactions on the New York Stock !
Exchange during the week just ended ag-
gregated 4.275,973 shares. OF this amount !
Z, ,355, ,9Z3 shares represent the dealings In
twelve stocks. leaving l.92O.o5O shares as
the total sales Of the other l96 properties
traded in. Here are the most active |
twelve:
Shares Changes !
Erie ...-...--...-....-........7 73s, $40 Adv 25s
Inion PEcihc.---....-........3 33s 800 Dec. ~ |
Tobacco ...---..-....-......... 19l $40 Adv. 6A
Atchison ..-...-.-........... ls7 g75 Dec. ~
Y. :. 1876 $50 Dee. rs
v abash pfd. fd...........-........ l3l $50 ADV 2@s
81. Paul I21 27D