The daily morning journal and courier., 1897-05-29
Estmauetal.
Yesterday's Stock Market Vas Marked by
 Intense DulIness.

Yesterday's Stock Market " as Marked by
 Intense Dullness.
 New York, May 2S.-To-day's market was marked by intense dullness throughout almost the whole of the session, during all of which prices were very firmly held, so that the lively de- mand in few stocks to cover just at the close carried them substantially above last nights close. Doubtless a part of this buying was in anticipation of a covering movement which may de- velop at to-inorrow's short session of the exchange in view of Monday being a holiday, thus leaving an interval of two days before trading shall be re- sumed.
 The dullness of trading is an indica- ton of underlying strength, as there were some unfavorable factors to ham, per rise and holders preferred to hold with confidence. The principal factor in the dullness was the unfavorapie ef- feet upon the whole tone of the specu- lation of the official announcement of the Baltimore and Ohio receivers that there would be default in the interest payment on bonds coming due on June l. This action has been anticipated for several days and the companys securi- ities have been sold down accordingly. But the effect to-day was none the less marked both here and on the London market for Americans, which was en- tireIy neglected
 Some of the selling here for London account was due to the same cause. The sales for the day of all stocks foot ed up a total of only 120000 shares. There was no positive weakness in the market but the weight of semi-stagna- ton prevented values from benefiting several favorable influences. One of these was the continued weakness of the exchange market, which, though somewhat firmer than yesterday, failed to recover sufficiently to induce the expected further shipments of gold by to-morrow's steamer. But the imports of dry goods at this port for the week show an increase over last waeks in value of over $4O0,o0o, indicating that the import movement is again expand ing with an influence necessarily, on exchange.
 Chicago Gas, the leader of the mar ket in the volume of transactions, was quite strong on renewed hope of bene- fits from the Illinois legislature and rose to 17s above last nights close in the final dealings. There was a mark ed disposition to cover in the anthra- cite coal stocks, thus eliminating what has been a persistent element of weak ness in recent markets.
 The strength manifested by the grangers, rise in Sugar and the firm ness of the Gould shares were other influences that helped to carry prices very generally above last nights level at the close, and to leave substantial net gains in few stocks. National Lead showed strength on the approval of the lead schedule by the senate. New Jersey Central and Chicago Gas each showed net gain of 124; Consolidated Gas of 1A, and Delaware and Hudson and Northwest IS each, Cleveland, Gin cinnati, Chicago and St. Louis fell Is on the decreased earnings and rallied only $. Baltimore and Ohio rallied slightly from yesterdays depression, more than recovering an early decline.
 Railway bonds were relatively more active than share values and more de cided tendency was evident towards a higher plane Fractional gains were noted in the speculative issues except