The times. [volume] (Richmond, Va.) 1890-1903, 1898-05-03
PERFECT FUR0RE
IN SPECULATION.
A Day Of Activity in Wall Street Un-
equalIed This Year,
UPWARD SURGE AT THE OPENING
Met by Enormous Offerings TO Realize,
Causing a Loss Of From a Third
tOa Half OF the Opening Gain.
Bond Market Active.

NEW YORK. May 2-Wau street saw
day Of speculative activity and furore
which has not been equalled before this
year. There were many varying phases
500 the events Of the day. The upward
surge OF prices az the opening was met
by enormous offerings 90 realize which
caused a loss OF from third TO half
OF tho opening gain. The upward move
meut was then renewed, and there were
occasional periods of hcsitancy aftcrward.
but no serious reaction. The market
closed in another burst OF animation. and
very buoyant in tone, with prices except
Tor "a few stocks. az the top level. Inc
Volume OF outside orders from all over
tho country showed a large increase as
the day progressed. and the demand was
90 active and confident that the erect
or the early reaction was entirely over
come The graugers and the lnterna-
UOnals showed remarkable strength. The
scramble to buy al the opening was Ter
rife and prices varied from 10 points
lu SUGAR Burlington. St. Paul and Man
haitian Speculative activity was az bol-
inE point. except for rev in1erN@is ,T Ga
comparative dullucss. IN the outSlue
market there was equal strength and
urfiVifv Standard OIL liQuidaung Ceriu-
Gates were the feature at an advance OF
rhc bond market leaped into activity
along with stocks. and showed notRple
strength the speculative issues leading,
with gains NJ about . per cent single
bIocks al $4,000 OF the Northern Pa
rIfr and AtChison As changed hands.
Total sales. S3575,o0O United states
new as. coupon. eX-div., advanced 10
1fWa. do. registered I; the old As. reg
,stcrcd and the Sc Ghc coupon. ex-divl
D. nor cent. I'm the bid price. United
states old 4's. registered. on sales ad-
vauced ne. and the 5's' coupon eN-int'
4r1tsl sales NJ stocks were GA. 300 shares,
including AtChisOn preferred, 70 81 chi
eteo Burlington and Quincy, 4562l :
louisville and Nashville 2OHj0, Manhat-
tam Elevated. 20 40 Metropolitan street
railway 1920. New York Central IL
EO. Missouri Pacific 1855. Rock Island,
aa5lo. Northern Pacific. 100: do pre-
Go1o ST. Paul So 100 Southern railway
rr.farref Co.'s. Union Pacific preferred,
10 2~O. American Tobacco. 2l2SO. Chicago
Great Western. 5.4oj. Peoples Gas. II. e
$50. sugar lo4.4oo. Tennessee Coal ana
Iron. SiHO
The Evening Posts London financial
.anIccr4m SAYS: The only two points 20
note IN the money market here are the
growing belief that the war may collapse
coon and the revival N the New YORK
demand for gold. New York bought t3W.
o0o Of this week. arrivals from the c,1pe,
and tho price has risen TO as. 90. inc
frfu~c ~ the money market hinges on inc
Sow York demands for gold ana lhc
effect OF The Chinese indemnity payment
ON Saturday next
MONEY AND NEUTRALITY-SUSPICIOUS. on
r4U steady at 203 per cent. last loan, :
urr cent. prime mercantile paper w. 4
nor cent Sterling exchange steady. win
rs'ua1 business in bankers bills al 4S34H
4Sf for demand and at iSVt dlSl for
-ivtv DAYS. posted rates. 4Sliaa4S2 and
4S504eJie. commercial bills. $50 silver
.rrffnc4foe 5Giad57is. bar silver J6'sc. 4.
Mexican dollars ass Government bonds
strong. state bonds dull; railroad bonds
strong. - 80