The Saint Paul globe., 1897-05-29
AN OFFICIAL ANNOUNCEMENT MADE
BY THE RECEIVERS OF
THE ROAD.
REFLECTED in STOCK TRADES.
IT'S EFFECT NOTED IN NEW YORK
AND ON THE LONDON
BOARD.
NO POSITIVE WEAKNESS APPARENT
In a Few Stocks the Close for the
Day Was at Substantial
Net Gains.

NEW YORK, May 28.-Today's market was
distinguished by intense dullness through
out almost the whole of the session, during
all Of which time prices were very firmly
held so that the lively demand In a Few
stocks to cover just at the close carried
them substantially above last nights close
Doubtless a part of this buying was IN an
ticipation Of a covering movement which may
develop at tomorrow's short session OF the
exchange in view of Monday being holl-
day. thus leaving an interval Of two days
before trading shall be resumed. The dull
ness of the trading is an Indication of under
lying strength, as there were some unfayor-
able factors to hamper a rise, and holders
preferred to hold with confidence. The prin-
cipal factor in the dullness was the unfavor-
able effect upon the whole tone Of the spec
ulation Of the official announcement OF the
Baltimore & Ohio receivers that there would
be default in the interest payments on
some of the bonds coming due on June !.
This action has been anticipated for several
days, and the company's securities have SOLO
down accordingly. But the effect today was
none the less marked, both here and on the
London market for Americans. which were
entirely neglected. Some of the selling here
for London account was due to the same
caues.
There was no positive weakness in the mar
ket, but the weight Of semi-stagnatdon pre-
vented values from benefiting from several
favorable influences. One of these was the
continued weakness of the exchange market,
which, though somewhat firmer than yester-
day. failed to recover sufficiently to induce
the expected further shipments OF gold by
tomorow's steamer. But the imports OF dry
goods at this port for the week show an in
crease over last weeks of over $2OO, 900,
indicating that the import movement is again
expanding with an influence necessarily on
the exchange. Chicago Gas, the leader of the
market in the volume of transactions, was
quite strong on renewed hope of benefits from
the Illinois legislature, and rose to 17sc above
last nights close in the final dealings. There
was a marked disposition to cover in the
anthracite coal stocks, thus eliminating what
has been a persistent element of weakness
in recent markets. The strength manifested
by the grangers a rise in Sugar and the
frmness Of the Could shares were other in
fluences that helped to carry prices very gen
orally above last nights level at the close,
and to leave substantial net gains in a few
stocks. National Lead showed strength on
the approval of the lead schedule by the
senate. New Jersey Central and Chicago Gas
each showed a net gain of IN Consolidated
Gas, IL; and Delaware & Hudson and North
western, 11s each. c., c., G. & st. l.. fell
15s on the decreased earnings and rallied only
Is. Baltimore & OHIO rallied slightly from
yesterdays depression, more than recover
ing an early decline.
Railway bonds were relatively more active
than share values, and more decided tendency
was evident towards higher plane. Frac-
tional gains were noted in the speculative
issues, except for Texas & Pacific seconds,
which exceptionally gained point Amer
ican Spirits Is were marked by a decline of
2h per cent, with subsequent recovery of
2 per cent. Severe losses were also recorded
In few other inactive liens. The sales were
81, 1876, ,00O Governments showed an improved
tendency, with the old As gaining slightly.
The sales we're S., 600. :
The total sales Of stocks today were 1858
shares, including: Sugar, 81, 500; Burlington,
8 500; Chicago Gas, 1880; National Lead,
| $500; ST. Paul, 11,000; New Jersey Central,
10, 700.
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