New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-18

Monday. Nav 1I-D. IN.

The pacific tone Of President McKinleys Mes
sage upon the condition Of Americans in Cuba
was not favorable for bear plans in the stock
market to-day shorts generally covering and
prices ruling frner throughout. Stock market
opera tors for the short account probably
pected something akin TO a message, and
when 1t was not Forthcoming the shorts wisely
looked after the contracts which were put out
last week on the theory prevailing then OF some
drastic proposition by the President. The only
specially weak features in the market were Gen
eral Electric and American Tobacco, the last
named selling down on the legal decision against
the company in Illinois, but the early loss sus-
tanned in this stock was recovered in part before
the close, the last sale being at only z per cent
below Saturdays final transaction. No explana-
ton accompanied break of per cent in Gen
eral Electric. Chicago Gas was especially
strong, its volume Of business being relatively
heavy. and. in part. for the account OF people
who are well posted concerning the probability
of developments affecting the Chicago Gas COM
panies. In Sugar Refining stock there appears
to be no disposition by the insiders to make
decided move until the Tariff bill is out Of the
way. and some observers OF the market do not
expect to see Sugar stock materially changed
for some time to come. Dealings in 1t now are
chiefly by room traders, who. In the absence Of
important interests, are able TO move the stock
within narrow fluctuations best suits their
varying sentiment. In this respect the market
throughout is governed by about the same condi-
tons.
Burlington and St. Paul, in the railroad list
continue favorites for speculative transactions
and in Louisville and Nashville there is some
speculative support while Its merits are again
attracting no little foreign attention. The South
ern roads and those in the Southwest are MAX
ing at present the best statements OF earnings
and from reports received by brokers identified
with commercial interests in the South the in
dustrial situation in many OF the Southern States
is showing appreciate signs Of improvement.
Recent statements Of the Texas and Pacific, Mis-
souri, Pacific Southern Railway and South Caro-
lima and Georgia reflect 1t. For the month Of
April Louisville and Nashville increased in gross
earnings S33399, Texas and Pacific increased
SJ7 800 Missouri Pacific increased S4S.I and
Southern Railway increased SIO143. The
lied Gould stocks retained the hrmness noted
Saturday, and in Manhattan net gain of l1s
per cent was made. Among stocks OF classed
in the active list, oregon Railroad and Naviga-
ton preferred was strong at net gain or over /
per cent The foreign exchange market was not
changed In general features. although the TEND
ency OF rates was somewhat easier A report IN
the Interests OF the Baltimore and OHIO Reorgani-
cation Committee on the condition or the prop
erty, which makes many unfaVoraDle disclosuTes
not brought to light by recent expert exanllha.
ton has been prepared, synopsis or whcn VIII
be found in the news columns Of The Tribune
Prices for last sales Of the principal active
stocks to-day. compared with the final figures OF
Saturday were as follows