The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-13
NET CHANGES LIGHT
NEW YORK MARKET LARGELY A
REPETITION OF THE PREVIOUS
DAY.
LONDON CUT OUT TIE PACE.
SUGAR AND CHICAGO GAS Alb
sORBED THIRD OF THE
DEALINGS.
GOLD SHIPMENTS NOT EXTENSIVE.
Only Fifty Thousand Dollars Addt-
tiOnaI Engaged to Go by the
Steamer Today.
LONDON CUT OUT TIE PACE.
GOLD SHIPMENTS NOT EXTENSIVE.

NEW YORK, May 12.-Today's market for
stocks was almost repetition Of yesterdays,
whatever strength was manifested not out
lasting very long the close of the London ex-
change. The strength reflected from there
was, however, less marked than yesterday.
London also had again purchaser OF Sc
curities in this market, though rot in so large
a volume yesterday. Some purchases were
also said to be for Holland account. The
stocks bought by the foreigners were Union
Pacific, ST. Paul, and Louisville & Nashville,
also Norfolk & Western. Some sales for
foreign account were also made. The selling
movement in Sugar and Chicago Gas became
heavy later in the day. Sugar being sold on
reports of jeopardy to the Sugar schedule of
the amended tariff bill, and Chicago Gas on
reports of the unlikelihood that expected
beneficial legislation could be enacted In
Illinois. This caused such sharp declines in
these stocks that the depression spread by
sympathy through the list.
The dullness of trading was in part due
to the expected announcement of further gold
shipments, but these were not forthcoming
beyond an increase Of only $50, 600 by house
which had already announced $500, 200 by
tomorrow's steamer. Whatever shipments
may be made by Saturdays steamer are now
expected to be small, was foreshadowed
last night There is, in fact very light
demand for exchange, and no encourage
ment to offer bills against gold. 1t is evil
dent that a very small quantity Of these
would break the exchange market below the
profitable point for gold shipments. What
shipments may be forthcoming on special or
ders from Europe of course remain open to
conjecture. The considerable purchases of
our securities by London yesterday and to-
day has tendency to weaken exchange. An
increase in the exports from the port Of New
York for the week of 81 540,266, somewhat
effect the enormous imports of last week, and
the government receipts from customs from
day to day show that this weeks imports
will hardly reach anything like last weeks
change On Paris shows tendency to harden
and the Paris rate London declined slight
~ again today.
AS result of the upward movement of
stocks today and the subsequent reaction,
net changes are for the most part very
narrow. The restricted character Of the mar
ket is shown by the fact that Sugar and CHI
cago Gas absorbed over one-third of the total
dealings, and these two stocks were no.
taby depressed, they constituted an effective
drag on the market. The foreign purchases
OF stocks were estimated at from 1900 to
$4,000 shares The decline in Sugar reached
IA with rally of Is. Chicago Gas fell
rs, but the net loss was only r. Standard
Oil liquidating certificates sold today at S15.
The bond market maintained a firm tone
generally with purchases for foreign account
again noted. Gains of slight fractions were
generally made in the leading issues with
the speculative liens absorbing the bulk OF
the dealings. The aggregate transactions
were 81 $4,000. Governments were dull, but
hardening tendency apparent in the
new fours. The sales were $780, 600.
The total sales of stocks today were 49,
$50 shares, including: Sugar, 25,3O0; Burning
ton 1000; Chicago Gas. %, 200; St. Paul, TO-
coo; Union Pacific, II. 100; New Jersey Cen
trail, 6,000.tsleq go -. ~ s,.,e
The following were closing quotations Of the
leading railway and industrial stocks, fur
nshed by c.. H. F. Smith & Co. members
of trade: