The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-22
KEHO llUN IN olU6Ao
PRESSURE REMOVED AND UNDER
LYING STRENGTH ALLOWED TO
ASSERT ITSELF.
GENERAL FRACTIONAL GAINS.
THE MARKET WAS LACKING IN
BUOYANCY AND WAS DULL
AND APATHETIC.
GOLD ENGAGED FOR EXPORT.
1t Had Been Very Largely Discount
ed and Failed to Affect the
Stock Traders.
GENERAL FRACTIONAL GAINS.
GOLD ENGAGED FOR EXPORT.

NEW YORK. May 21.-The stock market
was relieved today Of some part OF the pressure
of heavy liquidation in the cOalers, especially
New Jersey Central, and in Chicago Gas,
which has been the heaviest drag upon 1t for
several days past. The latter stock showed
some strength today on renewal of faith
in favorable action by the Illinois legislature
on the consideration BILL New Jersey Central
also recovered about two points from the low
est of the day on quite heavy covering move
ment. The underlying strength OF the mar
ket was thus allowed to assert itself, to some
extent, and was helped by some special
strength In individual stocks with the re-
suit that the days trading brought fractional
gains all through the list. But while the
tendency of prices was upwards the market
was lacking In buoyancy and was dull anu apa-
thetic, the dealings being In the strictest sense
professional and very small, and the vibra-
lions, outside a few special cases, narrow.
feature of the market for the last few
days has been the small volume Of dealings
in Sugar. Efforts have been apparent at dtfer-
ent times recently to repress any marked up
ward movement in this stock since the tariff
bill has been reported TO the senate. He
etrlcted dealings In a dropping market would
be natural consequence Of this policy. me
engagement for export of 81 10000 in gold
the amount was about what has been antaci-
pated. The shipment is said to be in settle
ment of bills of exchange sold during the
week. The exchange requirement has been
very small and the probability is that such ex-
change as is called for is being settled by
gold Shipments even at the low price OF ex-
change prevailing, and this is considered to
be not unlikely to continue. The weeks I'M
ports Of dry goods at New York were valued
at $2,S 284, which is a decrease OF S423,SS1
compared with last week. 1t is probable that
the imports of general merchandise at this
port to be reported tomorrow will show
proportional falling off. the decreased receipts
from customs reported from day to day fore
shadowing such a result and accounting In
part for the light demand for exchange.
London did some buying in the New York
stock market today and was a factor in the
upward tendency of prices. New Jersey Cen
trail and Chicago Gas again absorbed about
one-third of the total dealings today. New
Jersey Centrals range was rs and the net
gain 49, Lackawanna and Delaware & Hud-
son also improved the former IN and the
latter y. Chicago Gas, General Electric and
Manhattan also gained about point each on
the day, the latter on reports, afterwards de-
MED that the new motive power to be adopted
had tean determined upon. The railways prac-
tically Closed higher, Omaha leading with a
gain of y. There was good buying in West
ern Union, res ul.ing in a rise Of y on the
day. Tobacco was heavy and lost a large frac-
ton. The closing was strong, though dull, and
practically at the top prices of the day.
The bond market ruled quiet and uninter-
esting with Sight tendency towards a higher
plane. The st. Louis and San Francisco Sc
curities were prominent in the speculation,
with the general 5s rising liz and do IS per
cent. Several issues were marked by heayi-
ness Including New Jersey Central coupon
and registered S. The aggregate sales were
$4,000. Governments were neglected, but
generally firm. The sales were $4,000.
The total sales of stocks today were 1920
shares, including: Sugar, $780, Burlington,
1880; Chicago Gas, 13, 400; Delaware & Hud-
son, $500; General Electric, $500; L. & NJ.
5000; Manhattan, $3.50; Rock Island, $780,
Western Union, LOO; N. ]. Central, A,S00
The following were the fluctuations of the
leading railway and industrial shares fur
nished by c. H. F. Smith & Co., members Of
the New York stock exchange and Chicago
board of trade: