The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-27
ALL-DAY ADVANCE
RECOVERY IN STOCKS ON THE NEW
YORK EXCHANGE WITHOUT
INTERRUPTION
SOME BUYING FROM ABROAD.
MARKED IMPROVEMENT In THE
DEMAND FOR AMERICANS All
LONDON.
GOLD EXPORTS CAUSE NO FEARS.
Even Should the Specie Movement
Become Heavy No Harm Is Likely
to BE Done
GOLD EXPORTS CAUSE NO FEARS

NEW YORK, April 26.-There was not much
animation to the stock market today, but the
| dullness was to be attributed to the fact that
| he exchange closes tomorrow on account Of
J the Grant monument dedication, and dealers
showed their usual disinclination to embark
on extended ventures ON the eve of a holiday.
Prices advanced practically without interrupt
| ton all day, and the tone was strong, on the
! belief that the war between Turkey and
! Greece Is near at it's end. Prices of Amer
! leans advanced in London, and London also
! bought some stocks on the local exchange.
This all went to encourage buyers, and it
| is thought there would have been more of
| them had 1t not been for the impending hol-
day. The news of the engagement OF $1,600,
600 of gold for shipment to Europe 81, 1000 600
from New York and 100000 from BOSTON,
was disregarded entirely in the stock market,
in striking contrast to the commotion caused
among stocks at the time Of the preceding
outgoing gold movement when a report Of
shipment of 5000, 900 would often sell the mar
ket off average of point. 1t is generally
accepted that the present shipment is due to
the special pressing demand from Japan and
Austria for currency purposes.
This special demand has created a practical
premium on gold in London. Without this
premium the present rates of exchange would
not leav a sufficient margin of profit in gold
fact, very small as 1t is. The enormous out
standing trade balance in favor of this coun-
try amounting to over $500, 000, 600, the con-
tinuing excess of exports over imports and
the Frightening prospects for American. Sc
curities in foreign markets largely abate I'M
easiness regarding the exchange situation,
due to heavy imports, some selling of Amer
lean securities here for foreign account, and
the heavy credits carried by the outgoing tide
| of American tourists to Europe. treasury
gold reserve of $155 600, 600 and an abundant
supply of gold in the reserve funds of banks
! leave no room for anxiety ON account of the
! currency situation, even if the exports of
| gold should become quite heavy, which is
/ thought to be possible.
The only decline of Importance during the
day was that in Sugar, on the account of
4 Vice President Theodore A. Havemeyer. The
stock opened oil 21sc on this account but raj
/ lied good buying and regained u before
the close. Burlington & St. Paul absorbed
large share Of attention and advanced steadily
in face of weak wheat market and news of
! flood damage to roadbed and equipment. St.
Paul, in addition, had the March statement
of earnings showing a decrease in the net Of
/ $lO4, 426 TO contend with, but led in the i'm
! proVement closing Is above Burlington. The
! lnternatOnalS showed gains, but the transac-
! lions in them were not large. The same was
| true of the SOuthwesterns which generally
| enjoyed a showing of increased earnings for
! the third week in April The Improvement in
| the grangers extended as high as rs in Oma-
| ha. OF the ndustrials Leather preferred
Chicago Gas, Tobacco and American Spirits
! preferred gained from 1 to points. Gains
running from 11s to ia were shown in Louis
/ vile & Nashville Missouri Pacific and North
! ern Pacific preferred
| In opposition to the general market, Laclede
| Gas preferred lost 3 and Consolidated Gas l..
/ Western Union also yielded " at one time,
! and subsequently recovered.
The transactions in speculative bonds were
marked by decided strength with the interna-
tionals leading the Improvement. Business,
however, was very light. The aggregate
sales were only 500, 600. Governments ruled
firm during the early session, but in the late
call concessions were noted from the best
prices. The sales were $4,000.
The total sales of stocks today were 113, 500
shares, including Tobacco, 1900; Sugar, a.
800; Burlington, 2O,SOO; l.. & N, 1900; Mis-
souri, Pacific, 400; N. Y. Central $500; Oma-
ha, 5000; Reading, 1900; Rock Island, 8 200;
st. Paul. IL, 400; w. u, $780, Southern pfd,
! 4,000
The following were the fluctuations Of the
| leading railway ard industrial stocks, fur
nished by c. H. f. Smith & Co., members
New York stock exchange and Chicago board
~