The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-05-14
D!SCOURAGING TRADING
mere was Hot Sin, Sa RalIyil
Point in Yesterdays Trading.
AMERICAN STOCKS IN LONDON HEAVY
That Market Somewhat Discouraged
ar Persistent Dissrust Dssn,nvc.,
~ tnc Ncw York Market or IT'S
own Sccurisfes-Stiireucd TO Some
EStcnt BEFORE Close ofTradInS.

New York, May l5.-There was not a
single effective rallying point in to-day's
market, and the only interruption to the
sasEinS or prices was the occasional
oiiel buying or shorts in some few stocks
" cover. Inc strength Of American Sc
SuritleS IN London and the buying by
London In this market. which have been
FACTORS in the last two days in sustain
ing the market, were less conspicuous
Today. American stocks became heavy
ana dull in London after the opening
mere. that market apparently having
become discouraged at the persistent
alstrust displayed by the New York
Iharket OF It's own securities. Quite
serious view also was taken in the street
OF the developments at Washington, and
nints thrown out by parties to the con
1erences OF information in the possession
OF the government of n state of affairs
ENSUING IN Cuba, calling for interfer-
cnce. This, coupled with the suggestive
course OF the Senate towards the Nor
gan resolution and Il belief that it will
pass, was taken as foreshadowing a
more 3gGresstve Cuban policy on tho
part OF the administration. and the
deaierS IN stocks were inclined by these
adviceS to discount q possible fall In
values from strained relations with
Spain on this question. y report also
lound cGcdcnce chat il was in prospect
70 displace the tariff bill in the Senate
py the Cuban question as more urgent
~ caiiln2 Tor early settlemcnt--a report
which was used by the bears with good
erect III adding to the weight on the
market.
The announcement Of a 81. OoO, 900 gold
snipmont by Saturdays steamer in face
OK 4 rather weak exchange market shows
t!i''t the limit Of no profit is not vet
crossed with demand sterling at SiS7A
the exchange market stiffencd to some
e%lent Just before the close Of trading.
and further shipments of gold are felt
70 be not inlprobabIc. Although this
probability was discounted severar
DAYS ago by the selling Of stocks it had
on effect in depressing values in the mar
row and professional market and in dis
cournging trading. Although to-uay's
sales were larger than those or yester-
DAY there were no signs Of any outside
interest in the market aside from the
dealinSS Tor London account. There was
SAD TO be selling as we'll as buying for
London account during the day but the
purchases are estimated to have exceed
ed the sales by 10000 shares--a fact to
be considered III connection with the ex-
change situation
The lndustriaIs shares, which we're
most largely traded in, namely sugar
and Chicago Gas, were under special
pressure, and although they were in
l!uenced by special causes. the volume of
the transactions n them impaired a
sympathcIc hcavncss 10 the general
list. The Changers were quite firmly
heid In the early trading. but later sue
cumbcd and showed 4 decline as great
as the average. The losses were re-
markablY uniform in all the most active
stocks. the decline ranging from * 70
lfSc.. the latter Leather Preferred
The total sale Of stocks FOR the day
amounted TO l5l oi5 shares. including
sugar, 2!.G00: Burlington. - 200: Chicago
Sas. To- 700; Reading. $500: Rock Island
$500.
halfway bonds cascd off on light deal
1nSs with the recessions unlmportant in
the leading mortgages. Some marked
losses We're scored, however, including
81. Louis and san Francisco Trust SIS
which fel! 4 per cent, and Peoria, De
catur and Evansville list, liz per cent
Ihe aggregate sales were SS72,0OO.