The Saint Paul globe., 1897-05-19
WAR INCUBUS OFF
RELIEF OVER THE PACIFIC OUT
LOOK REFLECTED IN THE
WORLDS MARKETS..
AMERICA IN FOR A SHARE.
THE NEW YORK CLOSE STRONG AT
GENERAL FRACTIONAL NET
GAINS.
STRENGTH OF GRANGERs A FA,roR
St. Paul and Burlington Very Active
and Moved Nearly Parallel Dur
Ing the Day.
AMERICA IN FOR A SHARE.
STRENGTH OF CHANGERS FA,roR

NEW YORK, May 18.-The tremendous po-
tentiality for evil, always latent In the East
ern question, was measured to some degree
by the sense Of relief, reflected in the ex-
changes Of the world today, over Turkeys
acceding to the demand of the powers for
cessation of hostiljties against Greece. Values
all over Europe improved from moment to
moment, and even American securities. re-
mote as are the properties they represent
from any danger of harm in the cataclysm
of an European war, advanced in price all
through the market The improved tone
abroad was the salient influence on the mar
ket, but IT was aided by various favorable
domestic factors in the situation. The fur
ther weakening of the exchange rate, both for
sterling anfi1 continental exchange, added to
the convicti6n that If any gold is exported
this week the amount will be small. There
was in the tone of the stock market a re-
fected indifference to the possibility OF ac-
ton by the senate on the Cuban question
that may be unacceptable to Spain. This was
partly due to the belief prevalent in Wall
street that the administration has determined
upon conservative policy in Cuba, but
holders of securities are also less inclined
to timidfty on account OF agitation OF the
Cuban question than was formerly the case.
Perhaps the restricted volume Of the trad
kuB WAS uue III part u tuo OupaU uicoussAou
in the senate, the total sales reaching only
about $4,000 shares. Although about half
this amount was absorbed by the five leading
stocks, the smaller sales were better distrib-
uted among the list than for some time past,
many usually active shares coming in for a
fair degree of activity. Chicago Gas was the
leader of the market and was strong all
day. until just before the close, when it re-
acted sharp fraction. st. Paul and Bur:
lington came next in point Of activity and
moved nearly parallel all day, showing very
vigorous strength, st. Paul, however, showing
a slightly wider reaction just at the close.
The strength Of the grangers was a mate
rial factor in the strength of the whole
market and was assisted by the grain stu
alton in the Northwest, and the increase
in St. Paul's gross earnings for the second
weak in May of $1494S. The Southern and
Southwestern railroads also continued their
showing of increased earnings in the second
week statement Missouri, Kansas & Texas
with an increase Of $29, 4So, and Kansas
was small buyer of stock, but was also
seller, and how far the one Offset the other
cannot be accurately stated. Burlington's
extreme rise was 1A, and St. Pauls 1h. New
Jersey Central moved over a range of 19s
under bear pressure, and affected the other
coalers by sympathy, but closed practically
unchanged. General Electric was also under
Continued pressure, out showed no important
change on the day. Manhattan was forced
down III, and rallied feebly. Tobacco moved
up 1as at the close under manipulation.
Brooklyn Union Gas lost rs. Lead common
gained 1asc, and the preferred ~, on ac-
count of the proposed tariff. st. Louis &
San Francisco first preferred advanced $685.
and Norfolk & Western preferred IL.
Union Pacific and Western Union gained
point each, and Leather preferred rose IA
Fractional net gains were made through the
entire list.-The market closed strong and
generally atethe best prices. ~ l-s5s
The bond market ruled fairly active, with
generally higher prices current. The aggre-
gate sales were 81 304, 900. Governments were
easier on the first call for the new As but
later hardened slightly. The transactions
aggregated $13,G00
The total sales OF stocks today were 1872 413
shares. including: Sugar, Il. 100; Burlington,
IT, 100; Chicago Gas, 18, 700; General Electric,
:, 800; Manhattan. 3,4OO; Reading; 4,s0O; Rock
Island, $500; st. Paul, 1850; Union Pacific,
1890; Western Union, 5000; New Jersey
Central, 1890.
The following were the fluctuations of the
leading railway and Industrial shares fur
nished by G. H. F. Smith & Co., members of
the New York stock exchange and Chicago
board of trade: