The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-05-13
LONDON A PUR CHASER. I
Though lis Purchases We're Not in 50 Large
a Volume as on Tuesday.
HEAVY SALES CHICAGO GAS AND SUGAR
The Dizziness of Trading Was In Part
Due to the Expected Announce
nent OF Further Gold Shipments,
but These We're rot Forthcoming
BEYOND an Increase of $4,000.

New York. May 12.--TO-day'S market
for stocks was almost repetition Of
yesterdays, whatever strength there
was generally manifested, not outlasting
very long the close Of the London ex-
change, and the strength reflected from
there, which was, however, less marked
than yesterday. London also was again
a purchaser OF securities in this market,
though not in so large q volume as yes
terday. Ia
Some purchases were also said to be
TOT Holland account. The stocks
bought by the foreigners were Union
Pacific, ST Paul, and Louisville and
Nashville; also Norfolk and Western
Some sales for foreign account were
also made. The selling movement in
Sugar and Chicago Gas became heavy
later IN the day, Sugar being sold on
reports Of Jeopardy to the Sugar sched-
ule Of the amended tariff bill. and Chi
cage Gas on reports Of the unlilleiihood
that expected beneficial legislation could
be enacted in Illinois. This caused such
sharp decline in these stocks that the
depression spread by sympathy through
the list. The dullness or trading was
IN part due to the expected announce
ment Of further gold shipments but
these were not forthcoming. beyond an
increase Of only $4,000 by house which
had already announced 100000 by to-
may be made by Saturdays steamer
are now expected to be small, as was
forcshadowed last night There Is, in
TACT, very light demand for exchange
ana no encouragement to offer bills
against gold. 1t is evident that a very
small quantity OF these would break
the exchange market below the prof ia
BILE point for gold shipments What
shipments may be Forthcoming on spe-
clai orders from Europe OF course re-
main open to conjecture. The considera-
pie purchases OF our securities by Lon
don yesterday ana today has a tendency
TO weaken exchange. An increase in
the exports from the port Of New York
Tor the week, OF 81 $40 266, somewhat Off
set the enormous imports OF last week
and the government vecc:pts from Gus
toms from day 10 day show that this
weeks imports will hardly reach any
thing like last weeks igIres On The
ether hand New Yo:k exchange in Paris
shows tendency 10 Ea,Hen. ana the
Paris rate on LoIttGI declined dignity
asaln TO-DAY. As .c:i;lt Of the up
ward movement e socks ;1-daH and
the subseQuen; reaction. net Ranges are
Tor the most pa"t Te!E ..a,.,M. The re-
stricted cha!ac:cV of :l.C inaiEznt s shown
by the fact ;ila, S:.;ar ana Chicago
Gas absorbed Owe. U.,e- hl:,t Of The total
dealings, and as thCSS :wo stock: We're
nota bly, depressed. they constitute an
effectiVe drag OH he market, The fG.-
eign purchases OF stocks were es:ima ted
at from 10000 10 1900 chl.es. The total
sales of SOCKS for the day amounted TO
127,o36 shares, including Sugar, o5.:309.
Burlington. 1000; Chicago Gas, %, 900;
st. Paul preferred, l0,100: Wabash pre-
rerred, ll.lo0; New Jersey Central. 600o.
The bond market maintain 4 firm tone
generally, with purchases fo. foreign ac-
count again noted Gains OF Slight fyac-
lions We're generally made in The lead
ing issues with the speculative liens
absorbing the bulk Of The dealings. I'M
provements OF to , per cent. were scorca
IN some OF the inactive middle grade
stocks. The aggregate transactions were
S,225, 600.