The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-05-18
STOCKS FIRM and HIGHER
THE PROFESSIONAL OPERATORS
FORCE UPWARD MOVEMENT
London Advances in American Sc
curittes Also Had q Strengthen
ing Tendency-TObacc Led the
List In Point of Activity-An
Abundant Supply of Money Aided
the Bull Movement Materially.

NEW YORK. May 17.-Todays advance in
the prices of stocks was the result Of a
new the upward course Of prices. These oper-
ators argued that the market had undergone
fair degree OF reaction during yesterday and
the latter part Of last week. The reaction had
invited fair short interest and had shaken
out the weak holders on the long side of
speculation. This represented no improve
ment in the technical condition of the mar
ket.
The trading started off with the advantage
of an Improvement in London, where prices
OF American securities were advanced sharp
traction all around There was also some
buying for London at the opening here. but
London afterwards turned seller when prices
had risen
There are a number of stocks which enioy
the special support of friends and inside in
terests, and these impaired frmness and SYM
pathy to the rest of the market. The com
Dination OF these circumstances made the
bulls feel warranted in pushing up the price
of their favorites without waiting for more
definite developments of the naval situation
In West Indian waters
The absence Of outside demand was indi-
Gated clearly also by the way in which prices
feil away In the realizing movement in the
final hour.
The days extreme advances were curtailed
from re- TO n by this movement but net ad-
vances OF between ! and 2 points for all the
principal stocks still remained.
Iobacco led the list in point OF activity and
vibrated very feverishly all day over a range
Of nearly points. Enormous SINCE blocks
OF Oh THIS stock figured in the dealings both in
ING downward movement and on the recoy-
cry. me stock shows net gain of "a
ne Quiz campaign was accompanied by thu
usual crop OF rumors, one of which reported
spain as suing for peace. The rates for tima
went lower, to per cent for sixty days, 3I6
months. ' 'e"' i'i iour
The abundant supply of money In the CONN.,
ny and the prospects of trade balance for
the year In our favor of over $500 900 600 are
taken much account of by those who study
tne speculative outlook. plethora of money
seeking employment, and a continued foreign
1e1nano LOT our products means an era NJ
activity. N 'AuuS'riai
The weeks exports Of general merchandise
o1e o,s view YORK. Sl1 8S,107, compared wth So
oIoo1o last week. In view Of these figures
coupled with some buying of stocks for Lon,
aon account, 1t Is not surprising that the price
OF London sterling should have Iost nc oS
Yesterdays gain. -0'' 7z' u
Inc bond market was quiet but prices are
nigner all around. Tota ! sales. 81 GO ON
Uhlted states new As fell ", and the 5s " on
Tue Did price, There was a sale of new a at
an r ADVANCE OF " over the last sale Yesterday
., ane o"Iai sales OF stocks today were 4a8 0(x
sao inea1naing, 3.4S5 Atchison, 14,27s d. BID,
missouri Pacific, 7,45O N. p. MID 40 aa5 DIV SSJv
Island. 32,745 st. Paul. 1850 SoHtharn n nsd
,607 Union Pacific psd, 13S, 1897 Tohacc. 190
reOPies Gas, 4.0A Sugar, 3,O36 T. G. g.
o'61S Leather pfd, 1901 Rubber, 5.5n do MD
me following were the fluctuations Of Tho
.eaalng railway and industrial shares fur
N Nishea py z. II. F.. Smith & Co., members
of trade: ~ OAi0oso poaTu