The times. [volume] (Richmond, Va.) 1890-1903, 1898-05-10
MAY WHEAT NOW
ONE SEVENTY FIVE
July Wheat, However, Was the Sen
sation Of the Day.
THE ADVANCE FOURTEEN CENTS.
Tho Stock Market Strong On Account
OF the ENtraord mary Price of
Wheat. Due TO Demand for
the Foreign Markets.
THE ADVANCE FOURTEEN CENTS.

GEW YORK MAY q-Probahy to-day's
stock market owed its hrmncss and at
some points its strength. 10 the extra
ordinary course OF prices IN the Wntd'
market With May wheat selling ln this
market Ht Sl.!h "a bushol before the mo-
ole of tho month. and with July option
almost Keeping pace with IL, there is as
sured promise of abundant increase or
wealth Tor this country. The outbreaks
OF vengeance of bloodshcd in italy ana
Spain. on account of bread, and the ad-
Naucing price for that necessity at other
points in Europe. are only 700 convincing
evidence that tho high prices for wheat
are not due 90 speculative manipulation.
hut Co the urgent need OF foreign con-
sumption. With this demonstration OF
thc country potential command OF
wealth. 70 was natural that prices OF Sc
Nuritics should continue 90 advance. But
tho market had 20 carry the burden OF an
extensive liquidation OF profits in many
stocks. and OF largo selling for foreign
account. induced by the stiffness oil money
Tho davis business was tho heaviest
since last FAN. the total sales of all stocks
reaching G2O. 200 shares a feature of inc
day was the sharp advance az i2c lu
sterling exchange. Not only me castor
tendency of money here. but the large
demand Tor exchange created ny the sell
inC Of stocks for foreign account had 10
do with this advance. The sales for Tor
Cigu account reached over 10000
The bond market SHARED I'm the activity
10 stocks and was strong throughout
TOtsl sales, So 10000 United states new
p advanced "a, tho IS and the old
.oupOu d. and the old As registered. =
ir me bid price. There were sales of the
new as. coupon. 40 1884. an advance oil
ga over the last sale.
me total sales of stocks were 62O7O0
shares. including Atchison ptdr @9%po'
Chesapeake and Ohio. LIO5' chicago
burlington and quincy. -. 40, LOUISVILLE
and Nashville $50. Manhattan. ll.b-Vi
METROPOLITAN street railway. $3.50. Mis-
souri, Pacific 1870. New York Central
so. Northern Pacific 1000, do. ptd.,
ggf $40. Rock Island. 4j.725, ST. Paul. 6S-
G2u. Southern railway pfd., 9l2'' Union
American Spirits. 1000, American TO-
haceo 4U15O. Chicago Great Western,
IS $50. Peoples Gas. - So 6eneIdI f4'C-
tric. coos. Pacific Mall 900, sugar
$50. tennessee Coal and Iron. 500
Western Union. 95lJ.
The Evening Posts London financial
c8b'ccram says. The stock markets mere
opened dull to-day. but rapidly improved.
The recovery was led by a marked inn
rrOVcmcnt 600 foreign bOurses, notably lh
Paris rumOr spread that spain was
asking the Powers TO intervene. Nothing
definite was known. but the buying was
SO c0od and general that color was given
t1 fhc report Interest to-day conferred
SIN Americans. iu which tho business Us
unusually heavy The hrm prices lh New
arnitragc dealers readily absorbed. Ope-
rators have apparently made mp their
minds that the war VIII not interfere
u.ith Americans. while the recognized rise
iu wheat adds TO the spending power OF
me United States.
Spanish as opened NJ 30i3 declined 20
1pe. but advanced rapidly 20 BPS on
covering by bear spectators in antici-
patton of tho coming Stock Exchange set-
dement,. Their net gain for the DAY was
~, points The advance was assisted py
unconHrmed rumors that money was IN
hand t0r the payment Of the july coupon
MONEY AND NEUTRALITY-SUSPICIOUS. on
call steady at "a per cent; primo mer-
camille paper. car per cent. Sterling eN-
change firm. with actual business m
bankers bills at 4S44HiSj for demand
and az 4Sli.44Sia, for sixty days. posted
rates 4S21lSJl.. commercial bills. 4sop
4eu5 Silver certificates. J6d6@4; bar sil-
yer. 5GI.. Mexican dollars, -. Govern
meut bonds strong. state bonds DUR
railroad bonds strong.