The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-12
NET GAINS IN ALL STOCKS
BUYING RENEWED WITH
VIGOR AND CONFIDENCE
Traders Apparently Convinced That
the War VIII BE Brought to
Speedy Close - An Enormous
Volume of Businesses Both In
Shares and Bonds, With the Close
at the Best Tor the Day.

NEW YORK, May 1.-THE active demand
for stocks and bonds was renewed with great
vsor and confidence today ycna An na
were substantially higher all around. A
large number OF leading stocks show net
gains exceeding two points, and great
many more have risen one point or over in
the price as result Of the days trading.
The upward movement was not resumed
until after a period OF hesitation and UNI
prices In nearly all cases declined. This
heavtnegs was due the sharp declines es-
tAblished in London for American quotations
Of selling orders tor London account at the
opening. There was also q well organized
raid against a number Of leading industrials.
Sugar and Tobacco acc, were consppicuSusly
were In haste TO cover their short contracts
even at the small decline achieved.
Evidently many OF the large bull operators
who had taken the profits yesterday, were
anxious to get back and saw an inviting
opportunity at lower prices, resulting fTom
yesterdays declines.
The demand for stocks in the first hour
was urgent and many blocks CT 1000 shares
were eagerly bought.
By the time the news Of the Wall street
attitude had reached London, that market
to buy.
There was realizing on a large scale at
different times during the day, but the re-
cessions in prices were INSIGNIFICANT The
day closed with a renewed burst OF activity
and prices at about the top level
belief that the termination of the war La
near at hand was the impelling motive for
the strength OF the market. Returns Of the
Spanish feet to home waters was in itself
locked upon as an abandonment of any ag-
gressive purpose to push the war. The con-
tinued recovery Of Spanish bonds offered an
explanation that was considered even more
slsnlncant Recovery seems to be without
doubt, due to the making of provision for
payment OF the July coupon It is believed
tnat the money advanced for this purpose
was on condition that Spain should end the
nostilities. The reference to the war by the
emperor OF Austria. was also thought to in
ulcats an early weakening On the part of
the Spanish government.
franc returns by prominent railroad COM
panies and the continued tendency towards
easier conditions in the money market also
nad their influence in encouraging the rise.
A small engagement OF gold for import de-
monstrates that exchange is still at fine
gold point o
The bond market shared quite fully in the
activity and strength of the stock market.
Atchison adjustment Is advanced IL Der
cent. Total sales, $3475OO
Total sales of stocks TODAY were H0a 5oo
ssh LAT including $500 Atchson 49, $50 do ND
s0z5 b. q o.; 4,750 c. & o; 26, $40 Burlin zion
a,2oe Erie pfd; 1880 L. G N; 975o Man.
hat saa 45so Metropolitan; 7,e40 Reading Did
i g, s22 ;, Mo- Pacific; 1920 NJ. X. & +. BID
1920 do pfd; 1855 Ontario & Western. sGG sS6
Heading; 33.25O r. 1; 7,240 St. Paul Az
Southern rfd; 32,17O Union Pacific DID: 73Ss
~ ma 7ea p pro; $3.50 Tobaceo; $50 G. G. W;
42so - daclede Gas; 46, 800 Sugar; 1878 T. G. g.
l; LILO Leather pfd; S,12O W.T.. ~ q
me Following were the fluctuations Of rho
leaalng railway and industrial shares fur
nisHe9 py Z. II. F. Smith & Co.. members
rev ~ .o York stock exchange and Chicago board