The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-05
STOCK MARKET BEARS DRIVEN TO
COVER BY THE VICTORIOUS
BULLS.
LAST HOUR TRADING HEAVY.
GAINS ON THE RALLY SHARED BY
ALL OF THE ACTIVE
LIST.
sTERLING EXCHANGE rs WEAKER.
Gold Shipments ON Saturday Are
Less Probable, but Some Corn
May BE Exported.

NEW YORK. May y4.-Several factors COM
binea to give strong tone to the market
for stocks today, and the upward course OF
prices was practically without the Interrupt
ton of any recationary tendency all day in
nearly all of the standard shares The day
closed with a burst of animation and
buoyancy of values which has not been
equaled for many weeks. The bears were
fairly driven into panic and rushed to
cover. The volume of trading in the last hour
was very large, especially in Sugar, though
the trading extended pretty generally all
through the active list. There was nota-
bic activity in Chicago Gas. the grangers
and Western Union and the coalers. The
immediate cause of the buoyancy in the mar
ket was the Reporting of the tariff bill to the
senate. Thee properties which are immedi-
ately benefited by the provisions of the
amended bill led in the advance, but the re-
porting Of the bill today was unexpected in
Wall street, and the forwardness Of the work
toward its enactment, where delay was
counted upon in the committee, gave an I'M
petus to business in all securities. Sugar
naturally derived the greatest beneht from
the published provisions Of the bill, and To-
bacco and Leather did not participate in the
gains which resulted in other stocks.
The weakness of the sterling exchange mar
ket indicates that further shipments OF gold
on Saturday were less probable than was
thought. Bankers have not however, def
nftely concluded not to ship. The Gould
stocks were made the center OF the bears
efforts to work reaction in the market, and
were pressed, Missouri Pacific, rs; Manhat-
tan, ~ and Western Union y. All rallied.
however, Western Union more than recover
ing the loss and the others greater part
Sugar showed an extreme gain of 319. The
coalers showed sharp advances. Delaware &
Hudson and New Jersey Central rose over
points and Reading gained ~. The grangers
showed gains of l to III, the latter in Bur-
lington. Cotton oil preferred rose ~; Chica-
go Gas, 2 points, the latter after an earlier
decline of r. and Canadian Pacific IN. Adj
vances of over a point occurred in Cotton
Oil common, Lake Shore and Big Four.
There were slight recessions from the top in
some stocks at the clos ut the closing was
strong and the days I $ were generally
he'd and showed ma. . improvement in
nearly every stock dealt in, except as above
excepted.
Railway bonds also moved up on large deal
ings, the market deriving it's chief strength
from the favorable factors operating in the
stock market. The aggregate sales were
81, 172, COO. Transactions in governments were
generally noted at slight gains over yester-
days close, with the aggregate dealings
amounting to $4,000.
The total sales of stocks today were 1872,
$50 shares, including the following: Tobacco,
s, 500; Burlington, 1S, 400; Sugar. sc, 800; Chi
cago Gas, 1880; Manhattan, 3,400; Missouri
Pacific, 1900; Omaha, 500; Reading, 1SO0
st. Paul, 1920; Western Union, 16,40O.
The following were closing quotations of the
leading railway and industrial stocks, fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board