The Saint Paul globe., 1900-05-18

NEW YORK, May 1.-THE demand for
railroad stocks, which has given strength
to the market for a number Of days past,
has been satisfied, and prices fell back
today in that department of the stock
list This is accepted in Wall street as
confirmation of the view that demand
came from an outstanding short interest
in the West. and was not based on any
underlying condition in the companies
whose stocks were affected or in business
at large The market showed itself as
Indifferent today to one or two favorable
factors which developed as it was yes
terday to any depressing Influences
The outside public remains profoundly
indifferent TO the stock market, and COM
mission house business has fallen to prac-
ticaliy nothing. St. Paul's statement of
earnings for the second week in May.
showing Il small increase over last year,
was a distinctly favorable factor as If
was calculated to Offset the apprehen-
sion. caused by last weeks return OF a
decrease for the first time since midsunl-
mer of 1883.
Last weeks decrease was looked unon
in the railroad situation, and declining
scale of earnings was expected, especially
as the weeks reports of the movement
of grain and of the WeSt-bound merchan-
disc movement have been discouraging
Today's report showing the largest ca rn-
ings for ST. Paul of any corresponding
week in its history, was a relief, but the
resulting strength of the stock was not
maintained.
Rumors of the same kind as those
which served the purpose of the bulls
yesterday continued to circulate such as
that Union Pacific or Pennsylvania was
to secure control of Burlington. or Atchi-
son pfd was to receive its full dividend
or new millionaire interests were to be
represented in Missouri Pacific, but a
lot of these stories were heard with Ian
guid interest, and PRICES continued to
droop. ic o.
In the Industrial. list the losses IN
nFIPQG Inf civ t+1,.
American TobaccoG was under severe
pressure all day on account of circum-
stantial assertions of the organization of
formidable competition. 81 The stock lost
over six points, closingl at the lowest.
Sugar suffered from reports that the
trade war was TO assume a more acute
stage. Peoples Gas Goontinued under
pressure by the professional element
amongst the traders. Ala advance in the
price of copper was responsible for the
sharp rise in Anaconda and had some
sentimental effect on the stocks of other
metal companies. The stocks in that
group We're dull anef' thes movement very
uncertain, the news concerning the iron
trade continuing generally unfavorable
Both the Bank Of England and the
Bank OF France made strong weekly re-
turns and the money conditions in Lon
don and Paris showed relief accordingly
me probability of further gold exports
from here is thus diminished The local
money market continues very easv and
II IS evident that the gold exports have
peen onset by gains from other sources
Inc bond market was decidedly dull
out showed some advances Total SALES
par value. $1,G4SGG1. United States bonds
were unchanged In bid quotations.
STOCK QUOTATIONS..
=, Furnished by Charles H. f. Smith &
Co, members of the New York Stock ex-
change, Pioneer Press building, who have
direct wires to Chicago and New York
Closing prices are bid:fl ,f.[5yy ~,