The sun., 1895-05-19
CHICAGO CLOSING QUOTATIONS
SATURDAY, May 1a.


A reaction in prices that was reasonably due
has been tho fenturo of the stock market this
week. The transactions on Monday which
wcro abnormally large. invited extensive snles
for long account that affected speculation
until the last day or two Of the week. Many
operators regarded Mondays market as
tho climax OF the upward movement,
but tho course of prices since then
supports tho view that Mondays transactions
wers simply the elimination OF a wavo Incl
dental to a rising tide. The reaction appears to
have stimulated buying for European account.
and. what is equally significant, for railway
officials. particularly those connected with
Western lines.
Tho selling Of securities by actual MS well
speculative holders early in the week was en-
tirely natural, and from n speculative point Of
view is regarded us healthful. 1t has since been
demonstrated that the demand for securities
is not limited to the caprces or exigencies
OF the professional element. This fact was
quickly discerned by that element. a cir
cumstance that contributed to the renewed
improvement in prices toward the end of tho
week. Announcements relating to issues OF
bonds by c.. B. and Quincy and Chicago and
Northwestern companies disposed Of dis
turbing rumors that have been current
for eomo time relative To the new is
sue of securities by one Of the Granger
trunk lines. The possession by the public
of the facts in tho cass of each company has re-
suited in fractionally higher prices for both
Chicago. Burlington and Quincy and North
western. The only other net advances for the
week are in a number OF the so-called In
dustrial stocks. namely: Sugar Refining,
Distilling, and Tennessee Coal and Iron.
None OF tho net declines for tho week
significant, except that of ~ points in Northern
Pacific preferred. The securities of the North
ern Pacific Company have been bulled on re-
ports that capitalists identified with the
Great Northern Railway are likely to
secure control of the property through
tho reorganization. These reports lack con-
frmation. AS repeatedly stated in THE Sun.
they are based upon the efforts of large holders
of Northern Pacific securities. particularly for
eign holdera to interest the President
OF tho Great Northern Railway Com
pany in the reorganization OF their prop
erty. Should they succeed and follow tho
advice given them the reorganization OF the
Northern Pacific Company will be upon severer
| lines than the most venturesome bear upon the
securities Of the company has yet imagined.
Tho advance in wages, notably in the iron
trade. has been an important influence In reviv-
ing the bullish sentiment relative to the stock
market. Another factor has been the advance
largely sentimental. in the prices of staple prod
ucts. Bank clearances and an expansion of loans
indicate greater business and speculative activ-
ity. At the same time railway traffic returns
nre making better showing than year ago
1t is not unnatural. therefore, that the prices of
securities have resumed an upward tendency.
To-day's market fairly active, and
prices were in the main fractionally low
er. owing to realizing sales by the profess
| sional element at the end OF tho week. The
heaviest dealings were In Reading. and the de-
cline In that stock on official denials of reports
that the Vanderbilt and other interests seek
ing tn control the Reading companies affected
the entire speculation. The closing was heavy
at about the lowest prices.
| AS compared with the final prices of last
| Saturday. tho majority of stocks are lower
| The more importano net declines are in North
| ern Pacific preferred. 40 u cent; Manhattan
| Railway. 3ls; Union Pacific, 2l4: Atchison and
| Louisville and Nashville. IN each; Reading and
| Southern Railway preferred, %: st. Paul {;
| Rock Island, Chesapeake and Ohio and On
tario and Western. Is each; Chicago Cas- New
England Western Union, and Southern Rail-
way. " Y cent. each. The noteworthy advances
are in American Sugar Refining, 3h q cent. {;
Tennessee Coal and Iron. 234; Omaha and Dis
| tiling and Cattle Feeding, l9s each; American
Tobacco, +: Burlington and Quincy, u; North
west. ". and Texas Pacific. II Il cent.
Final sales compare with those of yesterday as