The times. [volume] (Richmond, Va.) 1890-1903, 1898-05-01
BULL MOVEMENT
IN THE MARKET
Aggressive Leaders kindIe a Tempo
ray Enthusiasm.
EXTENSIVE TAKING OF PROFITS
After the Three Days Advance in the
Priccs-Thc Gains Were Mostly
Fractional, However-Market
Rcsists Downward Movement

NEW YORK. April 30-There was quite
en- extensive taking Of profits to-day az
Yer the three days advance IN prices.
INC realizing sales clipped off something
from the days extreme advance. leaving
uci gains iu the railroad list mostly frac-
tlondl. I'm some of the speCialtes, nOta-
by sugar there remained over n point
or net gain. The bull leaders this morn
iuE had Co face the sentimental effect OF
early declines for Americans in London.
extending 90 nearly point In some
cases. This meant that any advance IN
prices here would have 20 carry the bur
den Of arhitrago sales Prices were. how
ever. bid mp at every appearance Of con-
ndcucc. and the offerings OF the arDitTage
brokers were quickly absorbed. The ag-
gFCeslVe leaders kudled the enthusiasm
of buyers, and the small traders followed
the lead OF the blk bulls. quite fair
amount Of CommissiOu-hOuSc buying was
also done But while business was sun
active ana on a large scale stocks began
90 Doe supplied. The offerings were SUM-
Client 10 feed the demand. ana prices
ceased 90 advance and before long com
menced retrograde movement beloIo
the reaction had proceeded Tar the sup
ply ceased. But meantime a handsome
total Of stocks had been marketed al me
advance. There was some reheWal OF wy
buying demand in the second hour' gu,
30 did not reach large proportions, ana
the recOvories in prices AFTER the reac'loh
were not important D.,
The market for stocks and bonds IN
The early days Of the week was tne onll ~
est and uarr0wcst that has been seen Tor
wears In so dull market there rs usu-
ally natural tendency OF prices 10 sag
but there was "a marked disposition IN me
market 90 resist any doWnWald lehuenCl
du, to the conditional orders in brokers
offices 20 buy stocks ON any sharp dt-
cline The hardness Of prices ENCOURAGED
powerful COtcrie OF professional opera
tors 90 enter the market for bull turn
They commenced operations on THURSDAY.
Some following was induced by TINS ltau-
erfhip both among room traueIs anu
among c0mmission-hOuse customer s.
Whether tOday's prout-taking marks the
termination OF the campaign by the uiB
bulls does not appear on the surface.
The future of the money market has
hinged for some time on the needs or
The Government for q war loan Inc
consultation OF the Secretary of the
Treasury with number OF leading Indh-
oiers served TO clear the situation Inc
success of the proposed loan az per cen.
was felt TO be assured, and the plans Tor
disbursement seemed 20 be sufficient 10
guard against sudden cOntractions ana
-friuccnCy. This was felt TO give prom
lee Of easier conditions in the money
market where reserves have been closely
hid and accommodations much restricted
for some time past I'm anticipation Tor
the demand for the Government loan.
The actual conditions iu the money mar
kef have. in fact, become apprecldDly
easier during the week. and the rate TOT
TINE loans was shaded from TO 90 per
cent.
The downward tendency Of railroad
bonds has been arrested. and prices have
improved during the latter part Of the
week on am increased business. United
States now as have advanced l4- ana the
5.s coupon. g. while the old IS, regis
tered have declined u. Others were UNI
changed.
The total sales OF stocks to-day We're
1G6 $40 shares. including Chicago, Bur
ungton and Quincy. IL. 400; Northern Pa
clfc preferred. q 800. St Paul 152Gp;
tuiou Pacific preferred 1880; American
Tobacco. 1850, Sugar, 1850
The Evening Posts London financial
rabicgram says. The stock markets here
were staEuant to-day. in view of the hOli-
day ON Monday next ConsOls declined
Ou the fam iu exchange. Spanish A were
fiat ON the weakening in the Paris BOurse.
Americans were liftless. Brazils We're
fiat ist exchange being the lowest on
record Dear wheat aggraYates the trou-
bIcs IN en- grain Importing countries
Ncw York bought gold slightly
MONEY AND EXCHANGE.-Money on
call steady at 202i2 per cent; prime m'r-
change weak. with actual business IN
bankers bills az 1898 04Si for demand
and at 1904 n4Sl for sixty days posted
rates 4Sll404S2 and 4SJ0iSjl2; CONNER
1000 ounces sold al 57ig057&. closed al
J1i .45S. bar silver 5G7S. Mexican dollars
4li. state bonds dull. railroad bonds
strong. Government bonds firm.
BANK STATEMENT. The weekly
hank statement shows the following
changes.
Surplus reserve increase ........S 970.57j
Specie. increase -..t. --'..''''- 49, ~ ~,
legal tenders( decrease ........ 2.6l4 90
Deposits e.rease ...........'.. =, y ~ ss,
u'3 ,'o,, C,,, Lold Sfi -Of an I'm o,,ccgs