The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-05-07
STRENGTH WAS SHOWN
Bnt It Was Due to the Combined Effect
Of Special influences.
INTERNATIONAL STOCKS WERE STRONG
Many Stock Movements Were Largely
Due to SPECIAL Influences. buc
Their influence OH General List
Was Only SympnthetIc-rheT Pres.
sure or Gould shares Was Severe.

NeW: YORK. May 6.-There was con-
SIDERABLE strength apparent in to-day's
market but 1t was due rather to the
combined effect Of special Influences on
inaavlaual stocks than to any Develop
nents In affairs affecting values gene
rally In the market. The narrowness
or the market and Its professional char
acter left 1t very susceptible to such in
nuences, and the fact that the short in
tsIest mas been largely reduced was
shoWh by the small dimensions Of the
manipulative movements to offset the
advance. 1t will be remembered thai
prices were sold off to some extent yes
terday on the supposition that British
aoiuers OF American securities would re-
meet the public resentment heret ofore
manifested over the rejection by the
senate of the arbitration treaty by offer
ing them for sale. AS nothing OF the
Alno occurred. the international stocks
on the contrary showing rather eScep-
.ioliai strength, II was natural that there
should be some recovery Of Yesterdays
losses Another favoriug influence was
1lat to-day was the day set by th.. ex-
change houses for definitely deciding
Wnether they should make further gold
shipments on Saturday,
The fact that no further shipments are
projected was accepted as all encourag-
ING feature Of the general situation II
was no!sed about the board room floor
curing the day that one Of the largest
I&llroad interests had given an order for
an enlargement Of it's holdings and the
room traders accepted this as a sur-
sestion to buy. Many stock move
ments were largely due to special in
1luences but their influence on the gene
IA llst was only sympa thetice The
influence. the dealings in that stool, be-
ING larger than any other on the list.
II. together with Western Union, Sugar
Burlinston and Quincy and ST. Paul
absorbed about half the total sales Of
the day. The pressure on the Gould
snares continued very severe and the
long continued weakness Of these. cou-
PIED with the absence OF inside support
caused the circulation OF rumors Of
!qnldat!on Of heavy interests Later
the prices or group showed complete re-
coVery on reassurng statements from
authoritative sources. There was more
or less restriction manifest IN the move
ment Of Sugar, which was attributed to
q polite purpose TO prevent very mani
TEST response In the price TO the an
Houncement or the tariff bill. Omaha
declined because no further dividend is
prooabie this year. Chicago and Alton
made marked decline on the reduction
or the quarterly dividend on both the
common and preferred stock from 9 per
cent. to -. per cent. Tennessee Coal and
iron enjoyed an advantage on the an
nounced settlement Of its controversy
With its laborers.
The total sales Of stock amounted to
lol,9A6 shares. including American To-
Dacco, 1000; Sugar, 1+,400; Burlington,
1890; Chicago Gas, &C. 300: Louisville and
Nashville, $500: Missouri Pacific. 5000:
Omaha. 900; st. Paul. 5000; Western
Union. 1880
The bond market broadened apprecia-
Oily, pui few important changes were
scored IN prices. The undertone Of the
market was quiet and firm. The sales
were S1,127,oO