The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-07
NEW YORK STOCK MARKET.

New York, May 6.-There was consld-
cradle strength apparent in to-days mar
ket, but it was due rather to the comDln-
cd effect of special influences ON lndl-
yidual stocks than to any developments
i'm affairs affecting values generally III
the market The narrowness of the mar
ket and it's professional character left 1T
very susceptible to such influences ana
the fact that the short interest has been
largely reduced was shown by the small
dimensions of the manipulative move
ments TO offset the advance 1t will be re-
membered that prices were sold OF TO
some extent yesterday on the suppose
ton that British holders of American Sc
curities would reflect the public resent
ment heretofore manifested over the re-
lection by the Senate of the arbitration
treaty by offering them for sale. AS
nothing of the kind occurred, the inter-
national stocks ON the contrary showing
rather exceptional strength, it was ma
tural that there should be some recovery
of Yesterdays losses. Another favoring
influence was that to-day was the time
set by the exchange houses for dehnltely
deciding whether they should make fur
Their gold shipments on Saturday. Ihe
fact that no further shipments are pro-
iected was accepted as an encouraging
feature of the general situation. 1t was
noised about the board room floor during
the day that enc of the largest railroad
interests had given an order for an en-
largement of it's holdings and the roozn
traders accepted this as suggestion to
Inv Many stock movements were large
" due to special influences, but their in
fluence on the general list was only sym
pathetic. The strength of Chicago Gas
was such an influence, the dealings in
that stock being larger than any other
on the list. 1t. together with Western
Union, Sugar, Burlington and st Paul
absorbed about half the total sales of the
day. The pressure on the Gould shares
continued very severe and the long con-
tinued weakness of these coupled with
the absence OF inside support caused the
circulation of rumors of liquidation OF
heavy interests Later the prices of the
group showed complete recovery on re-
assuring statements from authoritative
so,,rces There was more or less Testric-
ton manifest in the movement OF sugar
which was attributed to a polite purpose
10 prevent very manifest response IN the
nrice to the announcement OF the taflH
bill. Omaha declined because no further
dividend is probable this year. Chicago
and Alton made a marked decline on the
reduction Of the quarterly dividend
both the common and preferred stock
from per cent to IA per cent. Tennes-
see Coal and Iron enjoyed an advantage
ON the announced settlement of its CON
+rovarcy with IFS lahOrerS
The total sales of stocks amounted to
151 $40 shares, including American 10
baceo 5000; American Sugar Refinery
IA 400: Burlington and Quincy ID, 100;
Chicago Gas TT. Rec, 26,3OO; Louisville
and Nashville $500: Missouri Pacific s.
600: Omaha 1900; st. Paul 5000; West
ern Union 1880.
The bond market broadened apprecla
bly but few important changes were scor.
cd in prices. The undertone of the mar
ket was quite firm. The sales were 81,
$4,000. Governments were more &C
five and advanced slightly ON purchase
of $4,000.