Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-05-15
MARKET REPORTS.
NEW YORK MARKET.
The Features Of the Days Dealings in All
the Leading Stocks.

New York. May 1.-THE market was
unste ady and unremitting pressure all
day from some source or another and
there was a wide gap in the total valu
alton of securities compared with the
close, yesterday. which II would require
many millions Of dollars to bridge.
The only cheerful factor in the mar
ket was some small early buying for
foreign account. which. however, failed
TO sustain values and the exceptional
strength of the Gould account.
During the earlier hours of trading
the bears harped industriously on the
developments I'm the Cuban question
and the governments proposed atti-
tude towards IT. The Washington ad-
vices were held to foreshadow aggres-
sjve action by the government such as
would he likely to embroil the country
with Spain. When later advices from
the Capitol indicated the milder char
acter of the measures contemplated
and that they would probably be con
fined TO the dispatch Of relief to dis
tressed American citizens in the island,
the bears turned to the announcement
of an additional shipment of 81, 100000
This makes the total for the steamer
s.. 200 900. where as the selling OF stocks
earlier in the week was based upon an
estimate that shipments would aggre-
gate $1,000, 600 or even $l0000,00O II is
significant, also. that these shipments
were made on cabled orders from Eu-
rope. indicating the special character
Of the demand for gold.
The volume of purchases Of securi-
ties for foreign account during the
week has undoubtedly affected the ex
change situation. The decrease for the
week. in the value of dry goods i'm
ported at New York of $2043. 200 is
equally suggestive. The market was
however. under vague apprehension at
however. under vague apprehension
that there would come late news of
further heavy shipments and the bears
made this an effective instrument for
keeping up the depression.
Before any notable rally could occur.
news was received that the presidents
II the anthracite coal roads and com
panies had received summonses from
the attorney generals office at Albany
20 answer charges Of conspiracy under
he new antitrust laws. Marked heaV
mess developed as a result in all of
the Anthracite ccalers and. sympathet-
icalIy. in the entire list, especially in
the industlials which might be pro-
ceeded against on the same charge as
that brhIsa! against the coal com
panies. New Jersey Central fell TO the
lowest pIace Of the year under this
selling. The extreme decline was 2l
to 75I4 The fall in the ether coalers
ranges from * to IL. Sugar continued
heavy and declined rs. The railway
list generally sold off large fraction
the Changers leading, but recovered a
portion Of the loss before the close
Rubber pfd. lost 1l2.
The Could shares We're notable eXcep
tons to the weakness of the market,
Manhattan especially showing a rise al
one time of is with subsequent reac-
ton OF * The gains in the others were
confined to ractions-Laclede Gas pfd,
also rose / per cent. Throughout the
balance of the list. losses We're general |
The closing was steady. the slight re-
coveries being well held.
Trading was in small volume in the
railway and miscellaneous bond marke. |
with frmness generally apparent in the
speculative ISSUES. Some acute weak
spots developed in the inactive liens
with Peoria, Decatur & Evansville a |
second feature by decline of lass per
cent. Northern Pacific terminal lists, |
which have been unler pressure
throughout the week lost 3, and Calves |
ton, Houston & Henderson lists yielded
to a similar extent. The aggregate
sales We're s736, 600.
The feature of the government bond
speculation was the purchase of n |
block of 100000 of the new coupon As
ct n slight advance. The general mar |
ket also displayed a hardening tend
ency. The sales were $225, 900.