The Saint Paul globe., 1897-05-19
WAR INCUBUS OFF
RELIEF OVER THE PACIFIC OUT
LOOK REFLECTED IN THE
WORLDS MARKETS.
AMERICA IN FOR A SHARE.
THE NEW YORK CLOSE STRONG AT
GENERAL FRACTIONAL NET
GAINS.
STRENGTH OF GRANGERs A FA.TJR
st. Paul and Burlington Very Active
and Moved Nearly Parallel Dur
ing the Day.
STRENGTH OF GRANGERs A FA.TJR

NEW YORK May 18.@The tremendous po-
tentiality for evil, always latent in the East
ern question, was measured to some degree
by the sense Of relief reflected IN the OK
changes Of the world today, over iurhey .
acceding to the demand of the powers for
cessation Of hostilities against Greece. values
all over Europe improved from moment 10
moment. and even American securities, re-
mote as are the properties they represent
from any danger of harm in the cataclysm
of an European war, advanced in price all
through the market The improved tone
abroad was the salient influence on the mar
ket, but it Vas aided by various favorable
domestic factors in the situation. The fur
ther weakentngof the exchange rate, both for
sterling andsscontinental exchange, added to
the conviction that if any gold Is exported
this week the amount will be small. There
was in the tone Of the stock market q re-
fected Indifference to the possibility Of acr
ton BY the senate on the Cuban question
that may be unacceptable to Spain. This was
partly due to the belief prevalent In wall
street that the administration has determined
upon a conservative policy in Cuba, but
holders Of securities are also less inclined
to timidity on account of agitation of the
Cuban question than was formerly the case.
Perhaps the restricted volume Of the trad
in the senate, the total sales reaching only
about $4,000 shares. Although about half
this amount was absorbed by the five leading
stocks. the smaller sales were better distrib-
uted among the list than for some time past
many usually active shares coming in for
fair degree of activity. Chicago Gas was the
leader of the market and was strong all
day, until just before the close, when it re-
acted a sharp fraction. st. Paul and Bur-
lington came next in point Of activity and
moved nearly parallel all day, showing very
vigorous strength, st. Paul, however, showing
a slightly wider reaction just at the close.
The strength Of the grangers was a mate
rial factor in the strength of the whole
market and was assisted by the grain stu
alton in the Northwest, and the increase
weak in May of $14,94S. The Southern and
Southwestern railroads also continued their
showing of increased earnings in the second
week statement Missouri, II kansas & Texas
City, Pittsburg Gulf of $29,695. London
was small buyer of stock, but also
seller, and how far the one offset the other
cannot be accurately stated Burlington's
extreme rise was IL, and St. Pauls 11s. New
Jersey Central moved over a range Of rs
under bear pressure, and affected the other
coalers by sympathy, but closed practically
continued pressure, but showed no important
change on the day. Manhattan was forced
down 11s, and rallied feebly. Tobacco moved
up 1as at the close under manipulation.
Brooklyn Union Gas lost 1%. Lead common
gained 13sc, and the preferred IL, on ac-
count of the proposed tariff. st. Louis &
San Francisco first preferred advanced sass,
and Norfolk G Western preferred IL
Union Pacific and Western Union gained a
point each, and Leather preferred rose IN
Fractional net gains were made through the
entire list The market closed strong and
generally at the best prices.
The bond market ruled fairly active, with
generally higher prices current. The aggre-
gate sales were 81, ,304, 900. Governments were
easier. on the first call for the new 49, but
later hardened slightly. The transactions
aggregated $4,000
The total sales OF stocks today were 1872 413
shares, including: Sugar, II, 100; Burlington,
$500; Manhattan. 3,4o0i Reading, 4,S0O; Rock
Island. $500; st. Paul, 1850; Union Pacific
1900; Western Union. 5000; New Jersey
Central, 14,9O0.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by G. H. F. Smith & Co., members of
the New York stock exchange and Chicago
board of trade: