The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-24
STOCKS ADVANCED A NOTCH
DEALINGS LIGHT, WITH NO
GENERAL ACTIVITY SHOWN
individual transactions I'm Small
Dfvidend-Paying Securities
Feature of the Days Trading
Belief That Spain VIII Soon Sue
Tor Peace Sustained Values
Rates for Money DroOp.

NEW YORK. May 23.-The level Of prices OF
stocks was lifted another notch as a re-
suit OF today's trading. The dealings were
not large and there was general activity
IN the market. That Is to say, the volume
or dealings In the speculative favorites was
not very large and number of important
stocks were inactive. At the same time, it
was noticeable that a number of usually
inactive shares were moved and this gave the
market the appearance Of a broadening tend
ency, which a closer analysis did not alto
gether confirm.
There was a large number of individuai
transactions Of the small dividend paying
sources. Buying Of this character is usually
designed for permanent or longtime holding,
and always accompanies plentiful supply
OF money. There was no evidence, however,
OF any widespread general interest in stocks,
and the speculative public evidently prefers
to wait for definite outcome to the naval
maneuver In West Indian waters.
There was good market for Americans In
London, and prices were we'll sustained on a
belief that Spain would shortly sue for peace
There was a coincident rise of a point OF
over in Spanish As in London and Paris A
rumor that this was due to pending Franco
Spanish alliance did not hurt Americans in
Paul, and altogether was quite a factor In
the strength OF the New York market.
Northwestern responded to its excellent
statement Of April earnings with rise Of
points, and radiated strength through both
the Vanderbilt and the granger groups, with
each of which was coordinate.
Early In the day there was a further ad-
vance. of over points in Pullman. Other
conspicuous gains were New York Air Brake
bk; New Haven, 21a; Minnesota Iron, A; Met
ropolitan Street Railway. 2A, and Leather
pfd and Rubber pfd, about points each.
Traders realizing in the late dealings caus-
ed break Of nearly a points in Pullman.
Of ~ in Consolidated Gas, and points in
unsettled closing, especially below the best
In some cases, and with net gains as a rule
only small.
The rates for money continued to drop, and
the desire for some evidence Of more &C.
tive demand, indicating business activity
began to extend outside the circle of the
money lenders.
The accumulation and Withholding of ex.
change resulted in a further advance of nc in
the rate for demand sterling and nc for
sixty-day bills.
Discount rates declined in London, Ber-
those centers from the pressure Of exchange
for New York.
Railroad bonds were narrow and inactive,
but prices were well held. Total sales, 81,
350,000
U. S. new fours declined 4 in the bid
price. Others were unchanged.
Total sales of stocks today were BIS. 200
shares, including; s,057 Atchison preferred;
1850 Burlington, 1926 L. & NJ, $500 Man
haitian, $500 Metropoli an 3,445 Northern Pa
: cifc, 1850 New York Central, 5,175 Northern
! Pacific preferred, 1920 Rock Island, 1885
& L. E., $40 Spirits, 1928 Tobacco, 1926
Chicago Great Western, 6340 Peoples Gas,
1866 Pullman, 1885 Sugar 500 Leather. 20,
440 Leather preferred.
The following were the fluctuations of the
leading railway, and industrial shares fur
New York stock exchange and Chicago board
/ of trade: