The Washington times., 1894-05-26
DR.. PARKER. lII4 g Street N. W.
BULLS BEAT THE BEARS.
Covering Of Shorts Pronounced in sugs

Covering of Shorts Pronounced in Sugar.
Prices We're Better Than on Thursday.
NEW YORK, May e5-This was a bull day on
stock exchange, and the result Of the day
transactions is that, with one or two e4 >ptions,
the active list shows an advance in price. ,oin-
pared with the final sales of yesterday rangi- >
from u to a4 per cent Chief among the inilu-
ences which brought about the appreciation in
values were the agreement to maintain rates
entered into by the railroad managers at Chi
cago, the easier tone of the sterling exchange
market, and the consequent cessation OF gold
exports
The covering movement by the shorts was
quite pronounced in Sugar, the GranSers, Chi
cago Gas, General Electric, Missouri Paci1c, and
New York Central. There was good buying, too,
for the London account in St Paul and New
York Central, while Boston houses bought Bur-
lington and Quincy and insiders were purchasers
Of Western Union. The fluctuations In Sugar
were very frequent the outside ranges being
9Sl2 and 1929 After an opening rise OF u. n de-
cline of ~. was made, followed b. Nh advance
and final reaction OF y, leaving gain on the
day of "a. \ very confident tone characterized
the trading in those shares, the buying being
credited mainly to the old sugar pool, which acts
as II 1t was certain the tariff bill would go
through as amended in the Senate
OF the Grangers, St Paul anu Burlington and
Quincy were In most demand, and considerable
blocks were taken for the long account in the
belief that increased earnings would result from
the settle ment of the rate question. Chicago Gas
reacted a in the early dealings, rose rs, and
then on sales TO realize PROFITS on a Boston ac-
count broke ~.
The lower range of values brought in rood
buyers, and supporting orders were received
from theWest, which caused q steady advance of
21s, the closing sale being at the highest point
touched and lSs seboye yesterdays hnal quota.
The general market opened firm and shade
higher. and during the first hour the trend OF
prices was upward Then came n fractional
reaction, after which the speculation was fairly
steady until about II 30 O'Clock, when National
Cordage preferred broke 11s per cent and Buf-
falo, Rochester and Pittsburg ga, neither OF
which stocks made any subsequent recovery.
Before noon the market had again taken an
upward turn, with United States Cordage in the
lead. but q reaction soon took place, which was,
however, but slight and of brief duration, and
during the rest Of the afternoon the trading WIS
strong in tone with only AN occasional slight re-
action. the closing prices being Of or near the
best of the day.
Advances were established of per cent in
United States Cordage, l34 IN Baltimore and
Ohio, I5s in St Paul lM in Rock Island, in
Northwestern and Burlington, 1IA in General
Electric, ia in Missouri Pacific and St Paul and
Omaha. and per cent in Western Union, To
bacco, and Louisville and Nashville
The bond market was firm in tone all day,
United States Cordage firsts being the feature of
the dealings Options unchanged az IS, broke
to 20, rallied to 20, and closed at 70. The other
leading changes were:
ADvASCEs-Louisville. New Albany, and Chi
cago 1rsts,2 9: Chesapeake and Ohio, purchasing
money funding 6s, 134: Syracuse, Binghamton,
and New York frsts and American Dock 5s each
ls4: Chicago and Eastern Illinois lrsts ind Atchi
son 4s, each ia: Austin and Northwestern IS,
Edison Illuminating frsts, Oregon Short Line is,
and ST. Paul 7. and d. IS, each per cent.
DEcLfNEs-Louisvlle and Nashville. st. Louis
div. seconds 3la; Toledo, Ann Arbor frsts, 8: Mis-
souri, Pacific consul 6's IL; Mexican !nterna-
tional frsts andPittsburg and Western 4s,each
per cent Proctor and Gamble nrsts so'i at lI5,
against ITO on February 10.