The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-04-21

London for American securities there
at well above last nights closing,
The opening was about on parity
with London for the international
shares, the rush of first purchases in
some stocks being so great as to give
range of 4 in the initial pricesa as was
the case In yesterdays selling move
ment To-day's opening was attended
by an almost equal degree of excite
ment with yesterdays eagerness to
buy what was sold, yesterday being
feverlsh.
The day was, In fact, almost an eX-
act reversal of yesterdays proceedings
except that the retrograde movement
stopped short of full recovery of yester-
days losses ,
The international stocks were nearly
the most affected by the London
strength, and Louisville and Nashville,
which suffered the heaviest loss yester-
day showed the sharpest recovery to-
day. opening at an Improvement of 11a.
St, Paul opened with running sales of
1000 shares at 70% to 701a against last
nights closing at Co.'s
The Improvement though centering in
the internationals was general through
out the list, the rise reaching point
in many stocks. The quotations for
British consols from London were
eagerly looked for as the best index of
the war situation. At the opening OF
the war between Turkey and Russia In
1877 the fall in consols was three full
points. The tone of the exchange mark
| ct also served to abate the fear of i'm
mediate gold shipments, which was an
influence on yesterdays selling.
| The advance in exchange rates which
| has occurred on each successive day
recently ceased to-day and rates only
| Just barely held firm. 1t was reported
| that the foreign bankers had decided
not to attempt gold shipments until
the actual rate for short sterling had
| reached S4.SS&, while the rate to-day
| was $4S8h. London also bought stocks
| quite heavily during the day. In addi-
ton to this the weeks statement of ex-
ports from New York showed an in
crease of over 100000 over last week,
thus giving promise of a promised ex-
cess of exports Notwithstanding the
large exports now being made. This
promise of deferment of gold shipments
helped to relieve the selling pressure.
The contrary movement of the stock
and the grain markets was again MOTTO
able as yesterday. The buying by Lon
don to-day was quite a notable factor
and a good part of the stocks sold by
that capital yesterday were bought
back to-day There was evidence of
large amount of new purchases by Lon
DON This included some Southern Rail
way preferred, which rose three points,
showing the extreme gain on the day.
and Union Pacific and Wabash South
ern Railway preferred was also helped
by the net earnings of the second
week of April.
The bulk of the buying for London
account, however, was of Louisville and
Nashville and st. Paul, the latter again
being the leader of the market In point
| of activity and being several times
crossed by Burlington in the days quo
tations. With the exception of two
brief periods of reaction due to profit
taking, the course of the market was
upward all day. The active railway
shares showed an average net gain Of
about a point extending to 2s In the
case of Louisville and Nashville and
Southern Railway preferred Leather
preferred and Tobacco each showed a
net decline of over point, the former
on Washington reports indicating the
probability of tariff on hides.
The anthracite coal shares showed
less buoyancy than the rest of the list,
and closed at a loss of l per cent Pa
cffic Mail also was down three points
on the day. The closing was dull but
firm and slightly below the best prices
of the day.
Railway bonds recovered sharply to-
day with the speculative issues leading
the movement. Governments were &C.
tive but without notable change on
transactions of $4,000.
Following are the closing prices re-
ported by Prince & Whitley, bankers
and brokers, 16 Broadway, New York,
and Is Center street, New Haven:
| Bid Asked