The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-11
MARKET MOVED SHARPLY, AL
THOUGH AT TIMES WITH CON-
SIDERABLE IRREGULARITY
WEAK SHARES WERE STRONG
tractive to Many WOuId-Be Pur-
chasers-Sentiment Was Quickly
and Completely Reversed-PrO-
nonnced Advances Among the
SpeciaIties.
Closed. Day
Bar silver, New York ........64 6lA
Call money, New York. ........4 $40

NEW YORK, May 10.-The stock mar
ket moved sharply today, although at
some times with considerable irregularity.
Certain large interests were purchasers of
the specialities, and the absorption of
some 10000 shares by London aided the
market leaders by pushing up their IA
Vorites. In the afternoon the rapidity of
the advance induced the covering Of large
short lines, and commission houses were
again active purchasers. There was no
furry In the money market, the ruling
rate for. call loans being 4 per cent
Sterling exchange eased off on the large
purchases of stock for foreign account
Influential in shaping sentiment was a
rumor that the government crop report
to be issued late today, would show an
improvement of several points over last
| month. st. Paul's favorable statement
of earnings was source of strength to
the grangerS.
The lower range of prices brought about
by yesterdays decline proved attractive
to many would-be purchasers, and while
there was no important news develop
| ment, sentiment was completely reversed
| today. Stocks which were the center of
| weakness yesterday, notably the Flower
| specialties, were among the strongest fea-
lures today, Brooklyn Transit rising TX,
and Federal Steel and Peoples Gas about
4 each. Among the specialties there were
some very pronounced advances, includ-
! ing American Tobacco IL; American
Steel Hoop and Third Avenue, each;
American Steel and Wire, 81; Tennessee
Coal and Iron and Continental Tobacco,
| So each, and Anaconda Mining and Man
! haitian each. The railways advanced
| from 1 to 81 points for active issues,
Burlington scoring the extreme rise. Met
! ropolitan, which lost a point, was the
| most pronounced exception to the gen.
| eral strength.
hi
| commission house litigation, which in
! Guced certain professionals to make a
| drive at the market, but large operators
absorbed offerings, two houses taking to-
| gether about 100000 shares, and this turn
| ed the tide and a steady Improvement fol-
| lowed. report that the industrials COM
mission hearing in Washington had been
postponed for thirty days led to pur-
| chases of stock of some of the COM
| panies to be investigated. 1t was report
| ed that prominent commission house,
| after consultation with the financial in
| stitutions carrying its loans, was forced
| to sell large line of stocks, shortly af-
| ter the opening, and that 1t was on this
report that the market was temporarily
depressed in the forenoon. Practically
everything joined in the late advance,
| and the market closed buoyant at the
| best.
Railroad bonds participated in the i'm
| proved speculative temper, but advances
were not material except in few in
stances. Total sales, $2,82O,0OO. United
States new 4s advanced n, and the IS
in the bid price.
STOCKS
Furnished by Charles H F. Smith &
Co., members of the New York stock ex-
change, Pioneer Press building, who have
| special wires to Chicago and New York
Closing prices are bid: