The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-04
BULLED IN THE FINAL HOUR
- -rsiSs5sSSsSsH.-
STOCK LIST BID UP SHARPLY
AT THE CLOSE
Prices of the Market Leaders Car
ried Back Nearly to the Level of
the Previous Day After an Early
Special Cases-The Bond Market
Was Active.

NEW YORK. May 3.-After yesterdays vio-
lent advance in prices of stocks, some reac-
ton was to be expected today. The market
heavy selling orders by large operators, who
were desirous Of taking profits. The re-
sumption OF trading after the holiday in Lon
don brought in an element which made 1t
more difficult to manipulate the market for
rise. American securities. with one or two
exceptions, showed declines on the London
exchange before the opening here Yester-
days events in Wall street had so far awaE-
ened outside interest in the market that COM
mission mission houses found their books filled with
puy1ng orders. The heaviness in London at.
lected opening quotations, but they were not
down to the London parity and they were
sustained by very heavy commercial house
buying during the first hour This invited
arbitrage selling, and the shares Of dif-
rerent stocks sold for London account here
we're estimated at as high as 3O,O 600 shares
IN. Inc market showed remarkable resistance to
me pressure OF this selling as we'll as to
tne heavy realizing by large operators, who
Delleyed that the rapid ad, ance of the las.
three or four days had gone as far as was
safe.
Inc 1aiIure OF the market to advance serv-
ca CO TO discourage the outside interests and
5ne Duying orders were withdrawn, the mar
ket gradually sagging to a low level. There
was rather inviting field presented for a
pear raid. But the fact that tomorrow will
pc holiday made the professionals timid
influenced those of them who were long
OF the market to take their profits.
Inc HrmneSs CT the market and the strength
SHOWN by some special stocks turned the
professional sentiment in the final hour to
the bull side. There was quite heavy buy
ing movement, which carried the prices of
the market leaders nearly back to last
nights level, and established numerous note
worthy net gains. through the list feature
OF the day was the lifting of a number Of
inactive stocks to the higher market level
established by the rise of the last few days.
The scope of the trading was broad and EN-,
braced large number OF stocks
The money market showed some tendency
to harden In the commercial paper depart,
ment and for call loans. A further engage.
ment of So, 900 600 of gold for IMPORT was !.
result The rise of Nc in the actual rate
for sterling exchange in face of these deyel-
opments was unexplained.
The bond market was active and strong
in the carly dealings, but there were later
realizations in the speculative issues, which
carried their prices below last nights level.
Total sales, $1,750000. U. s. new As regis
tered advanced ~; do coupon IN; the old As.
l. and the 5s, IA Fer cent in bid price.
The total sales Of stocks today were, 355, 500
shares, including 1854 Atch:son pfd; 28597
Burlington; 10,095 L. & N; 4,647 Manhattan
1873 Metropolitan; 1905 Missouri Pacific:
6,955 New York Central; $3.50 NJ P; 10. $50
dc pfd; 22164 Rock Island; 29S47 St. Paul
4,ls3 Southern pfd; 81 207 U. p; 45625 To,
bacco; $3.50 Chicago G. W.; 6175 PEOPLES
Gas; At, $50 Sugar; 3010 T. c. & l.. 1897 w. u
Tie following were the fluctuations of the
feading railway and industrial shares fur
nished by G. H. r. Smith & Co. members
New York stock exchange and Chicago board
| of trade: