The herald., 1897-04-21

above last nights New York closing. The
opening here was about on a parity with
London for the International shares, the
rush OF first purchases in some stocks be-
Ing so great as to give range of a quarter
In the initial prices, as was the case in yes
terday's selling movement. Today's open
Ing was attended by an almost equal de-
gree of excitement with yesterdays, the
eagerness TO buy what was sold yesterday
being feverish. The day was in fact almost
an exact reversal of yesterdays proceed
ings, except that the retrograde move
ment stopped short cs full recovery of yes
terday's losses. The International stocks
were naturally the most affected by the
London strength, and Louisville and Nash
Vile, which suffered the heaviest loss yes
terday. showed the heaviest recovery to-
day, opening at an Improvement at IL per
cent. st. PauLopened with running sales
OF 5000 shares at .oh979%. against last
although centering in the internationals,
was general throughout the list. the rise
reaching a point In many stocks. The
quotations for British consols from Lon
Index Of the real importance attached to
the war by those likely to be best informed.
Today's quotations were the first since
fall In the price was only 7-16d apprehen-
sions over the effect of the war subsided.
1t was reported that foreign bankers had
decided not to attempt gold shipments un-
til the actual rate for short sterling had
reached 4.Ss%, while the rate today was
4.SSA. London alsS bought stocks quite
heavily during the day. In addition to this
the weeks statement of exports from New
York showed an increase OF over $1,000
600 over last week, thus giving promise of
continued excess OF Imports notwithstand-
Ing the large imports now being made.
of new purchases by London. This inclu-
ded some Southern preferred, which rose
three points, showing the extreme gain
Of the day and Union Pacific and Wabash.
xra q hxy fha
increase In earnings for the second week
in April Of $20.620 With the exception of
two brief periods of reaction due to profit
ward ali day. The active railway shares
showed an average net gain of about a
point. extending to 27s in the case of
Louisville, ard Nashville and Southern
preferred. 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
active, with the Atchison, Texas and Pa
cific and Northern Pacific issues regis
tering the extreme gains. The sales were
u: lB.Oo0 Governments were active. but
1000. ~ ''9"0'''"' "
There was disappointment in the Liver
pool cables this morning. Instead of re-
spending freely to the American advance
or b446 cents bushe1 in wheat since
Thursday, they only gained about AZ cents.
This was the signal for heavy unloading
in the market. "eleventh-hour' bulls, for
eign houses and others being conspicuous
sellers. Prices at the opening dropped
with crash, May to 7sh and July to 7SA
q7S cents, representing decline Of 21z425s
from last night. An irregular upward
swing to sou for May was followed by
g second break to 79la, and then by nervous
fluctuations within a comparatively Small
range at midday. In the afternoon scare
Of shorts lifted prices a cent bushel,
May selling up to SOY. with a final reac-
ton to S0M, which was the closing figure
transactions were very heavy during the
day. but except at the immediate opening
and close intense strain and excitement
were missing.