The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-12
NEW YORK MARKET STRONG
WHILE THE ENGLISH Elk
CHANGE WAS OPEN.
RISE IN PRICES WAS EASY
ANIMATION IN THE DEALINGS AND
SOME INCREASE IN THE VOL
UME.
A REACTION LATER IN THE DAY.
Final Prices Showed Net Losses for
Most of the General Share
List.

NEW YORK, May 1.-Todays market Tor
stocks continued to be strong and prices to
advance all around as long as the London
exchange was in session, to impart Its buoy
ant influence to the local market. The deal
ings showed some animation and Increased
volume, and the rise in prices was easy and
uninterrupted. But the spirit Of pessimism
was too strong to last very long. The ad-
journment Of the London exchange was fol-
lowed by reaction, even with London con-
tinuing to buy quite heavily In this market,
after the close Of it's exchange. The prices
of Americans in London have halted some
what, up to this time, in spite OF the general
Improvement in that market, growing out Of
the subsistence of alarm over the war "a the
East, because London waited for New York
to give the cue for an advance. Today. how
ever the general tone in London was 80
strong and the improvement SO general. that
it extended to the Americans, without waiting
for New York's Initiative.
The cessation Of the days trading In Lon
don was followed by the announcement here
of $500, 600 gold shipment on Thursday, and
this was followed by vague rumor that
shipments for the week would probably reach
a total of 81, 900. Although gold shipments
have been expected and confidently predicted
for this week. the bulls lost heart In face OF
the actual announcement, and the whole mar
ket sold off, with no substantial recurrence
Of decisive strength. AS a matter OF fact, ex-
change rates eased perceptibly with the offer
ing of bills against the gold shipment and the
large purchases Of securities by London here,
estimated at 5000 shares of stocks and some
large blocks of railway bonds
The improvement in the price of Kaffirs In
London today is another factor to be conssd-
IN no qS the heavy
liquidation of Paris holdings of these secur-
tiles, on the London market, is the reputed
cause of the Paris demand on London for gold
and indirectly of the shipments of gold from
New York to Paris. These elements in the
situation make the volume of gold to be
shipped from here this week still more prob
lematieal, with growing likelihood that they
will be less rather than more than was anttci-
pated. But these considerations did not allay
the apprehensions of the traders, and they
allowed prices to decline. AS a consequence
net changes on the day are generally very
narrow, but as general rule all of the early
gain was more than lost with resulting net
losses Of a fraction the volume Of the deal
ings greatly diminishing on the decline.
Chicago Gas, st. Paul, Burlington and West
ern Union were the most active stocks in the
order named. Burlington's range was pont,
with net loss of narrow fraction. while
st. Paul retained fraction Of Its early gain
Chicago Gas advanced 1A and declined
point. Western Union advanced 1h on COW
ering, and gained &c net Manhattan also
was strong early and gained 2. but afterwards
lost 1h The net losses in the coalers were
wider than elsewhere, extending to a pont
in New Jersey Central. Foreign buying was
responsible for advances Of 29s in Norfolk &
Western preferred and II in Norfolk &
pdeferred, two usually inactive stocks. Laclede
Gas preferred rose and st. Paul, Mime
apolis & Manitoba ~. Sugar moved mar
rowly and under restraint.
hnY1d mari Yof iCnL cf{f Unn