The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-13
STOCKS AND BONDS.

New York, May .G.-Io-day MSTAet
for stocks was almost a repetition of yes
tapday's. whatever strength there aTas
penerally manifested not outlastinguvery
long the close of the London exchange
ami the strength reflected from there,
which was, however, less marked than
Yesterday. London also was again
purchaser of securities in this market,
though not in so large volume as1yes-
tersiay Some purchases were also SAID
to be for Holland account. The stocks
bought by the foreigners were Union
Pacific. ST. Paul and Louisville and Nash
vile; also Norfolk and Western. Some
sales for foreign account were also made.
The selling movement in Sugar and Chi
cage Gas, became heavy later IN the DAY,
Sugar being sold on reports of jeopardy
TO tho sugar schedule of the amended tar
iff bill and Chicago Gas on reports of the
unlikelihood that expected beneffclal
LEGISLATION could be enacted in Illinois.
This caused such sharp declines in those
stocks that the depressiog spread by So
pathy through the list The dizziness of
trading was in part due to the expected
announcement of further gold shipments.
but these were not forthcoming, beyend
an increase of only $4,000 by house
which had already ann1Inced Sooo,0OO
by Tomorrow steamer. Whatever ship
ments nay be made by Saturdays steam
err are row expected to be small, as WAS
foreshadowed last night. There is, in
fact. very light demand for exchange
and no aencoura cement to offer bills a
gainst geld 1t is evident that very
small auS nifty of these would break the
exchange market below tale protita BIKE
point for gold shipments. What ship
ments mag be Forthcoming on special or
dsrs from Europe of course remain opea
to conjecture. The considerable pur-
chases of cur securities by London yes
tetday and io-day has a tendency to weak
= en- exchange. An increase in the exports
from the port of New York, for the week
of $3.50, 26a, somewhat offset the enor-
nous imports of lastweek and the govern
ment receipts from customs from day to
day show that this weeks imports viii
hardly reach anything like last weeks
figures On fine other hand. New York
exchange on Paris shows tendency TO
harden and the Paris rate On London
declined slightly again to-day as a result
OF the upward movement of stocks to-day
and the subsequent reaction, net changes
restricted character of TIE market is
shown by the fact that Sugar and aChi-
caao Gas absorbed over one third Of the
total dealings and as these two stocks
were notably depressed they constitute
an effective drag Oh the market. The
foreign purchases OF stocks were est
mated at FROM 12,O0G to 1900 shares.
The total sale of stocks for the day a
mounted to 127, 536 shares, including
American Sugar Refinery 25,SO0; Bur
lington and Quincy 1900; Chicago Gas
TT. Rec. 23;2O0. st. Paul pr. 1O.1OO:
Wabash pr. II 100; New Jersey Central
5000.
The bond market maintained a firm
tone generally with purchases for foreign
account again noted. Gains of slight
fractions We're generally made in the lead
ing issues with the speculative liens abb
sofbing the bulk of the dealings. I'm
provements Of 1@2 per cent were seemed
in some of the inactive middle grade
stocks. The aggregate transactions we've
$1,125,00O.
Governments were dull but a harden
ing tendency was apparent in 4ile new
fs8rs. The sales were 1000