The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-28
STOCKS SHOWED STRENGTH
BUT BEAR INFLUENCES PRE-
VAILED AT THE CLOSE
The Late Weakness Regarded AS Re-
markable Under Existing COndi-
tiOns-Advance In Peoples Gas
Attributed to Buying by Inside
as to the Spanish Fleet.

! NEW YORK. May 27.-The stock market
enjoyed period of strength this morning,
but the early gains were practically all wiped
out before the day ended, except in the few
special stocks which had sustained the list
all day. Even some of these closed at prices
as low or lower than last nights 81 cosng
markable on account of the sustaining force
exerted by the buoyancy of Peoples Gas:
strength and absorbed large proportion of
the days total dealings. The extreme rise
was almost three points, and the advance
was effected in the face OF pronounced heavi-
ness of the general market, which was ham
mered under persistent dr1bble OF realizing
sales.
very confident buying on the part Of inside
interests. 1t may have been directed against
short interest which has been put out in the
last few day on the strength Of threatened
agitations against the combination OF COM
panies. After the stock touched par, very
heavy blocks were taken, and there were
prolonged periods when it was practically the
only stock appearing on the tape. Its net
gain is nearly points
Rock Island, in which the predominant
financial interest is the same as in Peo-
pies Gas, was the most conspicuous figure
In the railroad list and was advanced almost
two points in the early trading, but saved
only little over point of its net gain.
The grangers as group shared in this
early strength, and there was good buying
also in the Vanderbilts.
London was buyer of the international
stocks in this market, and there were con-
tinuous gains In the case of several isolated
stocks: Later weakness in the market was
undoubtedly due to a growing doubt as to
the whereabouts of the Spanish fleet.
The bull element on the exchange Is by no
means satisfied with the lethargy In the
money market the absence Of demand for
funds arguing a halt In business. Continued
difficulties over the adjustment Of rate con-
troversies cast shade On that market, and
the ST. Paul statement of April traffic showed
SO overwhelming a proportion of increased
earnings eaten UP by operating expenses as
to emphasize this evil. The marked falling
off in the foreign demand for grain on &C
count CT the declining apprehension of a
future short supply is also having its effect
on stocks.
Activity today was very largely confined to
the few stocks above Indicated
There was some awakened activity at times
in the bond market, and individual transac-
tions Prices were well held throughout.
Total sales, 2,575 900.
U. S. old IS reg were "A higher, and do
coup. per cent lower.
Total sales Of stocks today, 1896, 500 shares
including 10,0S2 Atchison pfd; Is, 1875 Burling-
ten; 1880 L. & N; 1850 Man; 1896 Met;
$3.50 M. P; 4,210 N. Y. C.; 4,746; Northern
Pacific, 5,7S3; 5,733 N. P. pfd; 2s,s04 R. l.;
II $3.50 U. p pfd; $50 Tobacco; 62,723 Peoples
Gas; 22,7S4 Sugar; APPS T. c. & L; 1920
Leather pfd; 4,03O, w. q.
The following were the fluctuations Of the
leading railway and industrial shares fur
nished by c.. H. F. Smith & Co., members
New York stock exchange and Chicago board
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