Show I PRICES BETTER BETTERIN IN WALLSTREET WALL STREET Bears Busy Covering Short Contracts in Spite of Rumors of Failures LITTLE BUSINESS DONE HOLIDAY PREVENTED ANY NEW NEWCOM COMMITMENTS COM New York May lIay 29 The closing up of accounts was the important influence at work today tod y in the stock market The same influence was effective in London Here the Decoration day holiday tomorrow was wa the motive There the tho conclusion of a astock i istock stock market settlement and lack of ver verification o ot of rumors current yesterday that failures were to result prompted the cov coy covering covering ering of short contracts The imminent holiday took away all inclination amongst traders here to enter on any new com corn commitments commitments The fact tact that the closing up of speculative accounts resulted in more buying than selling of stocks was wa confirmatory confirmatory confirmatory matory of the impression that hat the post position lion tion is largely extended upon the short side of the market The uncertain price movement of wheat reports of more fa favorable favorable a weather in the crop regions and of needed rains and higher tem tern temperature temperature added to tho the disinclination of to remain uncovered over the holi holiday holiday holiday day The sentiment In financial circles was that a sudden change in tho the prevailing un unusually unUsually usually ull weak we k conditions might alleviate to an Important degree the depression at atthe atthe t the ruling demand for securities The engagement of gold for shipment to France tomorrow did not deter the bears In stocks from proceeding with their ther movement to cover shorts This amount was less than was estimated on onA J A Tuesday when the tho first engagement was 1 f made but it belted belled the assumption of yes yesterday yesterday yesterday that no engagement would be made today todar Discounts receded in London to today today o oday day but conditions bearing on the gold movement were not otherwise material materially ly changed and the question of a further outgo of gold is left open A rise of copper in the London metal market was a helpful factor for the metal market here The professional element was Influenced in its position to some Bome extent by the cabled advices ad vices of an active speculator who had attracted some fol following following following lowing In past movements The speech to be bo delivered by President President President dent Roosevelt at Indianapolis today was much discussed Accurate knowledge of Gf the substance of the speech was professed in many Quarters but confidence was less pronounced as to the Interpretation to be placed on t in public discussion This was vas an nn element however In promoting the covering operations by shorts sports In Increasing Increasing creasing attention is given to the show showing showing showing ing of net earnings of railroads for April I as successive reports received indicate correction of the recent excess of ot the in increase increase increase crease of or operating expenses over the In Increase increase increase crease In gross earnings The Lehigh Valley report for April was the Important example today and its good showing was a strengthening factor upon the generally It appears that officials of the tho railroads already reporting for April the growth of per cent in gross earnings leaves an expansion for forthe forthe forthe the net earnings after the increase In op operating operating expenses Is ia allowed for of at 07 per cent This showing may be further improved from the effect of advances in freight rats rat s which were to go Into ef effect effet effet fet in many cases CaBes on May 1 The strength of market In spite of its extreme dullness drove the shorts into I something of a scramble at the last and gave the fillip to prices which raised them to the highest of the day but which was not fully tully maintained to the closing Bonds were Irregular Total sales par value d States old declined U 4 per cent centon centon centon on call I |