The morning news., 1891-05-12
MARKETS BY TELEGRAPH.
FINANIIAL..


NEW York. May II. noou.-Stocks opened
active and barely steady. Money at 4(6416 per
cent. Exchsnge-long. 81 S414@4 841a; short,
81 SS1404 SS1a. Government bonds dull and
without feature. State bonds dull but steady
The following we're the 2 p. m. stock quota
tions:
Erie. ...;.......... 1875 Richn'd g. w.Pt
Chicago q North. .10S35 Terminal. ...... 16X
Lake Shore. .......10g1s Western Union. sO3s
Norf. & W. pref 523z
New YORK, MAY II, 500 p m.-Sterling ex
change closed quiet but steady at 81 0s4 SO;
commercial bills, 81 $780, s61a. Money easy
at 306 per cent, closing offered per cent.
Government bonds closed duh but steady; -four
per cents 1l91%, four aud a half per cents l0I
State bonds closed duh but steady.
SubTreasury Balances-Coin, $126, ,271, 900;
currency, $40, 900.
The stock market to-day began the new
week with more activity than usual of late.
was materially helped by weakness in in
dustrials, and especially in Cordage and Chi
cago Gas Downward movement in the former
was helped by the publication of an article
showing that most of the manufacturers of
cordage are outside of the trust, and the price
of stock fell away to "a, after selling at 1919
last week. Chicago Gas showed less wea zDess,
and its loss was smaller. London came in as
buyer of stocks, however, purchases being ac-
companied by assurances that Russia would do
nothing more to disturb the financial situation
in Europe. This encouraged the bulls again, and
they showed their hand in the afternoon by
buying stocks all along the line, the business
done being larger than for many days, and the
improvement in prices most important. Shorts
we're driven to cover in many OF tie lead ng
shares, Grangers Louisville and Nashville,
Missouri Pacific, Wheeling and Lake Erie, and
some Speciaities showing marked strength.
The market gave every appearance Of having
turned bullish again and buying was of q most
excellent character in all of the stocks men
toned; while even weak stocks of the forenoon
rallied aud closed higher, with the exception Of
Cordage. Opening prices were irregularly
changed from those of last Saturday, and early
losses in the regular list were confined to frac-
tional amounts. with the exception Of Chicago
Gas, which lost l16 per Mt The advance from
lowest figures reached per cent, and the up
ward movement met with no check during the
day Final figures we're at or about the highest.
The feeling at the close Of business was much
better, and bulls began to feel conf lent again
of further advance in prices. The small en-
Ragemen9s of gold for export had no influence
upon prices and notwithstanding rumors OF
political and financial difficulties in Europe, the
operators are inclined to believe that the out
ward movement OF gold has reached its culmi-
nation. The market finally closed active and
strong at the best prices of the day. Final
changes are almost invariably fractional al
vances. The sales aggregated 33i 900 shares of
listed aud $1,000 shares OF unlisted
The following we're the closing quotations OF
the New York stock Exchange:
Ala. class A, 2to5. 1854 NO. Pa'fcist mort ssI6
Ala. class b. s. ..i0sM \. Y. Central. ri. iolM
0eorgla7s, mort -- Eorf. 4 W. pref b. b2A
~ NCar0linaconsss 1885 Northern Pacific. 25H
- ffaf0iiUHeDuRfE % % % pref. ttff