The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-05-11
SIGNS OF STRENGTH
Tie Dealings Continued DuII and Prices
Advanced Cautiously.
EXCELLENT CROP REPORTS MADE
The Grnngers aud Northern Pacific
Received tho Most Noticeable hen.
eRt st. Paul and Burlington
largely DeRAt In-The Exchange
Mystined About COLD movement.

New York, A1sy 10.-The market for
STOCKS to-day showed signs Of decided
strength throughout, though the deal
ngs continued dull and prices advanced
' very cautiously In spite of improved
prices for; Americans in London. This
was supplemented by ONE small buy
ing for London account in this market
later in the day. The excellent crop re-
ports from the Northwest and improved
earnings, both those reported and those
rumored for the immediate future gave
an impetus to the buying Of railroad
properties in that region. The Changers
and Northern Pacific received the most
noticeable benefit from this, st. Paul
ana Burlington especially being largely
dealt in. Omaha Jagged in the improve
ment and showed some continuance OF
heaviness growing out Of disappoint-
ment that no further dividend will be
declared this year. In spite Of the
strength Of prices, the market continued
narrow and professional and showed no
signs what ever OF outide interest
The exchange situation and the re-
suislng accompanying gold movement
continue to mystify dealers III stocks
and are an element in curtailing specu-
lation. Further Shipments OF gold ale
confidently predicted this week with de-
mand sterling exchange ranging from
SiS7M @si.S7h AS an evidence that the
gold shipments are certainly the result
of the obliteratio Of the tremendous
trade balance in our favor heretofore
established during the fiscal year, the
large figures Of last weeks imports at
New York, exceeding $4,000, O0O are
pointed to conclusive by those who
seek to deprecate the idea that any
special demand for gold abroad is re-
sponsible for the outgo
But exports Of gold at prevailing
rates or exchange leave unexplained the
fact That on the Saturday previous to
the tlrst gold shipment demand sterling
ruled at $i.SS to $4.SSA, after having
been at SASSY and upwards on the pre-
vious Monday, and S4.S71a@$4.S7M the
week preceding that. without inducing
shipments Of gold. In fact the exchange
houses had determined that there was
no profit for them in gold shipments
under a rate OF S4.SSM for demand ster-
ling.
The fact remains that further ship
ments are looked for and that fact has
sentimental restraint on the buying OF
stocks. The bears on Western Union
to-day added 20 their stock Of ammuni-
ton, the Supreme Court decision affirm
ing the validity of the Berliner tele-
phone patent, which it is alleged fore
shawods opposition from the Bell TeIe-
Phone company in the telegraph field.
'Ihe stock led the list III number Of
shaEes sold fuctuating irregularly, and
cioslng unchanged Sugar was weak at
times, but recovered the decline.
consolidated CHS fell Off ! n Oh profit
taxing, but recovered. The coalers
showed sharp fractional gains. Cover
ing by short 4 forced Tobacco up two.
and the script IL, and the same cause
yielded Leather preferred a net point Of
gain. The market closed quiet, but
firm. The total sales Of stocl, for the
day amounted to 143,2S1 shares, includ-
Ing american Tobacco. $500: sugar. 10
2O0: Burlington and Quincy, IL, 400: Chi
cago Gas, $500; Northern Pacific, prefer
red, G.400: Reading. 10000; ST. Paul, a.
l1o; Union Pacific, $500; Western Union,
15,6O0
Trading in bonds was attended with
considerable animation, hut prices OF
the leading Issues ranged narrowly
some decided changes were noted either
way IN the active low grade mortgages.
Ihe aggregate sales wore 81 So 600