The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-05-14
THE MARKETS.
Wall Street Review,

Nrw N"ik. May 13.-rhr stock market mace
aprI"ri"hle pogrcss to-day toward that condi.
lion OF aS~itudc which usually follows such a
violent conNusiun thai ~ last week. This
vas most notably shown IN the volume of the
dealings. The cv'IishhcS> of the market and
ihc wide extent "r the fluctuations showed that
sentiment was still much unsettled. hut IN this
respect also there was not wide sweep ot
III" pendulum. There pretty general up
ward movement AT tlc opening. Tile news oi i
settlement in London with the shorts in Northern
Pacific had been arranged which would allow
them 10 cover at 40 an immense relief to
sent incnt in New York which in dread OF
a reflex action OF renewed di>ordc. in the Lon
dom market. After only short time Union
P'rih" hogan to absorb pretty much all the
hrlying demand and its hnoyant flight of III.
points began /" arouse obvious ,nca>incS> among
S;oc> operators \iIcr last weeks experience
tii" first Thought aroused hv any such movement
is that another corner is IN process oI iollll.
liOn.
'!hc most coIspcuo,is sharcra ot Union pacihc's
strength were S. raul and .tmalganated Copper.
ia" former rose points and the latter :. Mean.
nm" some points OF weakness which had been
moderately developed rulv IN the day hngau
1" grow and spread. When Union Pacific touched
l2'ia. the huNing dcnaud tor other stocks showed
notable d"crca,' and Mas not Sensibly revived
i"r the rest ct the ,Mv. The selling pressure
"ds not severe a> to Volume when the reaction
ST in, bi very wide concessions had to IL,
made IN order To effect sales OF even small
amounts oi stocks. In Rock Island. which had
WAS Il dl"p OF 3is on The sal" oi only 100 shares.
There was similar weakness in other >tUchS. These
wide declines. however, di-lud9cd very li,lc
stock. indicating the ,utll new commitments Toy
speculative account on the long side. on the
other hand prices wri" bid mp with apparent
"i,c vixen any rInt WAS made to support III.
market THIS >ourCc "f The buvug which caused
iu" early strength WAS not easy to perceive. Tire
mere fact III higher range of prices is uf oh
NinlS advantage in tie adjustment Of indebted.
hrsS growing ont ot last weeks troubles by m
'rra,ng the NI" ut collateral on loans. There
was doubles, >0mr manipulation OF prices with
This end in view aud the absence OF liquidatirs
sales on the advance facilitated the moN cmrnt
Inc money market free from disturbance
nud kug" lepaymrntS ot loans made in the criSi,
last week were reported To have been made
The transfer ri great suns from the iutrr,"
h"lprd this movement, There was late
weakness III the stock market, which recnrrcd
after the various rallies, many stocks closing at
the lowest, But the general opinion j. that tile
reaction l. due 10 lhr fact that the natural
rebound after The panic had spent it> force
Total sales, l,l3G,:NO shares.
The bond market was g"nTalv strong. bng
not Ncry active, Total 'ale>, par value, Si,0OU,
900
Fh" bond market was generally strong, hut
not very active Total sales, par value 5000, ,u1l
/, :, new Is advanced i per cent, and the .,
declined 4 ON the last sale