The evening world., 1895-05-06
LAKE SHORE SELLS away UP.
Highest Price in Many Years
Recorded for the Stock.
Bears Powerless to Check the
Sharp Rise In Wall Street.

The bears were powerless TO resist the
liberal buying orders for stocks re-
ceived by cable and the fact that the
Sugar Trust made another advance In
refined sugars this morning. The local
not long before an advance of IA to l IA
per cent. had been established all along
the line.
The feeling Is growing more and more
bullish and in some quarters further
large expansion OF business Is looked
for before the close Of the current week
The commission houses received con-
siderable number OF orders by mall and
telegraph from out OF town. and some
Of the professionals who recently tried
to make a turn on the bear" side and
failed are once more working for higher
prices.
1t is stated that three-quarters Of the
manufacturers OF cordage and binder
twine In number and in magnitude have
given their adherence to the project OF
forming fibre purchasing company.
The sharp advance in the price or splr-
Its by the Distllling & Cattle Feeding
Company Is interpreted here as indicat-
been made between the Company. and
Its competitors. President Rice will not
admit this as fact
The Laclede Gaslight Company OF st
Louis, reports for April net earnings o1
$50. 303. an Increase Of $3.96S.
Money 1-2 per cont on call Foreign
exchange Is still easier. bankers Soda
bills selling at 4.H IL 4. IS, and 4S J.;
a 4S9 for demand. The market Is affected
chiefly by the offerings Of bills against
purchases OF securities for foreign ac-
count.
Commercial bar silver Is unchanged at
ca "a ay-l dpllara n 30 1-o RaT
silver in London declined 80 I'D. per
ounce.
The stock market continued to display
Sanees wers srenFs FTesoraed aad sugar. s
and the Grangers being most c0nsplcu-
Gus In the upward movement. The ior.
eigners were buyers. and there was nc
pressure to sell from any quarter.
Lake Shore sold at the highest price
for many years past, and there were few
offerings on the way up. -,
row declare the regular semi-annual
dividend OF 8 per cent. on Its preferred
stock, payable June !.
The receivers OF the Northern Pacific
Railroad have nearly completed dnd
Will soon announce a new schedule OF
wages to take effect In every depart
ment. 1t Is not expected that the new
schedule will materially reduce the ag
BY Northern Paciic officials as an
Equalization"
At the annual meeting OF the stock
holders of the New ENGLAND Ielephon,t
and Telegraph Company. held In this
city to-day, the old Board Of Directors
was reelected with the exception OF
Frederick Aver, who was succeeded b!
Charles F. Aver. The stockholders have
decided to rescind and annul the recon-
mendatio Of the directors and the vote
Of the stockholders passed Feb. 2. 1856
creating preferred stock.
Stocks were in the main strong
Slight reactions brought on heavy buy
Ing orders ana quick rallies ensued.
Sugar sold at ll5, the best figure ye
rea ched Oregon Navigation jumped
| to 80 Reading sold down to l6 IA or
rumOrs that the Olcott contingent haC
sold out and were now interested only
| In the Junior mortgages.
The steamship umbria, just arrived
brought $l.06O.00O gold. consigned tC
August Belmont & Co.