The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-05-28
But The Slump in Rubber Shares and Large
Selling Of B. & 0. Stopped the Rise.
STABILITY or VALUE LACKS CONFIDENCE
The Fall IN Rubber Shnrcs WINS
Coupled wifi, IL Ruinor TINT it WAS
81 Caused by tho liquidation or Short
Interests Retiring on Account OF
the DccfInntion OF Reelection by
prcsitcIt Evxns.

rev ork, May E21.-Ihe market was
quite strong for tine to-day, but the
shares and the large selling in Baiti-
more and Ohio put a stop 10 the rise,
and also to the activity of trading. The
volume Of the dealings in all stocks for
the three hours OF trading after the
noon hour was only about one third or
that for the two hours,before noon. The
lack Of confidence in the stability Of
values on the part of the professional
traders, who still control the market al
mcst together. was .l'ustra ted by the
promptiiude with which they proceeded
to take profits on rather sight p.ovoca-
, ton. Those who are doing the bulk OF
the trading are evidently in he m r.
ket for a short turn, though there was
some con .inuqnce to-day OF the COM
mission house buying, which has indi-
Gated awakening Of outside interest in
the market. The fall In the Rubber
shares was coupled with a rumor that
it was caused by liquida ton Of interests
retiring on account Of the declnation of
reelection by President Evans. This
accumulated the decline without the
sales reaching an extra binary volume
After an extreme decline OF SAC. for
the common stock and 4Ac. FIR the pre-
ferred. these stocks rallied rather strong
~, the common closing 1t l2c and the
preferred at 601Ac. All the securities of
the Baltimore and Ohio that were dealt
in showed continued heaviness on the
belief that the company will default on
rs June first interest payments which
including interest on both bonds and re-
ce'ver's certificates, amount to about
S6C0.000 The stock fell lac. and rallied
only the fraction. or the bonds the S.
Of 1925 sold ten points off ii Soc: do
registered, s points off at I5c., and the
eorsol 5s. II points of at SOC, seller g
days. One or two other incidents served
to depress values somewhat. one being
the hearing OF arguments on the order
enjoning the summonses 70 coal road
presidents to answer charges Of con-
sp!racy under the New York anti-.rus;
law.
This hearing was postponed without
notably relieving the coil shares from
pressure. Some sentimental effect was
eNer:ed upon Sugar stock by the trial
OF the president CT the company for
contempt Of the Senate, but the dis
missal Of the case al Washington yielded
no substantial beneff. 10 the stock The
market was remarkably dull at the
pe:iods OF decline. London appeared tc
be ready buyer Of nearly all the in
ternatoral stocks when they fell be.
low the London parity. The total pur-
chases for London account were es.i.
ma:ed at 10000 shares. The net changes
In prices are narrow, but are mostly
losses, come few stocks showing gains
which reached point in the cases OF
Michigan Central and Erie first pre-
ferred.
The total sales Of stocks for the da,
amounted to 1868 shares. Including
Sugar, $4,000; Burlington and Quincy
2.l00 Chicago Gas, 12.900; ST. Paul, H..
ZOO: Western UTninN. $500.
The railway and miscellaneous bond
market WIS cnarac.e riZed by violen
fluctuations II 2 number Of Issues. in.
Guiding the Baltimore and Ohio liens
Whlch are elsewhere referred to, and
receded 3;a per Cent. Marked strength
was noted in some OF the prominent is
eles which was attributed 10 liberal pur.
chaEes for Continental account. This
Gales were 81, 233 COO