The daily morning journal and courier., 1900-05-17
---'--- luE STOCK MARK ET'.
RaiIroad Stocks Make Persistent show
 of strength.

|
 | New York, May 16.-Stocks of railroad companies made demonstration of persist ent strength in the stock market today.
 Whatever untayorable factors developed | were ignored or their depressing influence
 was resisted and the resu'ting declines | overcome. The bears were so far impressed | by the show of strength that they retired | from the field before the day was over and dId not repeat yesterdays herce rald on the industrial quarter which on that occa- 1 sion upset the market in the last fifteen minutes of trading. The market showed it. | self much less sensitive than for some time past to any depressing influence and the | close was distinctly firm at about the best | level of the day, earlier losses in industrial stocks having been almost entirely over come.
 The stocks of western railroads were cas- | lily the leaders in the movement and inc | buying was attributed to western account, as for several days past. This western buy | ing is believed in Wall street to be coyer- ing an outstanding short interest, prompted by the good crop weather and The favorable conditions in the winter wheat belt. The 1 leadership of the movement was shifted from Burlington to Atchison preferred, the latter stock scoring clean net gain of points. The approach of the dividend meet Ing and the circulation of rumors that the stock would be placed on a . per cent. basis were used with effect by the bulls. Burlington continued aggressively strong and scored an advance of 1 3-1 in spite of denlas of the recent .rumors that Il refund- ing plan was about to be announced. North ern Pacific gained as much and the strength of these stocks affected the other Pacitlcs and ultimately the trunk lines, which rose from 1 to 1 1-2. The steel stocks all re- bounded sharply on covering by shorts, and official denlals of assertions that general shut downs were imminent, on account of prospective demands for increase of wages. The early weakness of Sugar, Peoples Gas the Tobacco stocks and other industrials was met by denlals of various rumors which accompanied the decline. Recoverles eusued on the demand from the bears industrial list, the market had to contend with the announcement of gold engage mentS for export tomorrow, fully million dollars in excess of the preliminary esti mate. The fact that So large I shipment should be made In face of the considerable decline In discount rates In Europe aroused some uneaslnesS less the apparent ease of money abroad was fictitious and unstable But the continued ease of money here re- lleted this apprehension. Call loan rates fell to i 12 per cent. and the gains by the banks from the sub-treasury and on the interior movement of currency will evident
 y offset the gold exports. Although the advance in stocks was generaly wiped out when the gold engagelnnts were announced the upward movement was resumed in the belief that only a small'amount, if any gold can be shipped to London on Saturdays steamer under present conditions To-day's advance In prices was without sustaining Influence ln Missouri Pacific, that stock dropping back at one time points on the request to stockholders to authorize addl tlonal capital to the extent of $i5000.00o. The stock partly recovered on the eXplana- ton that the new issue Is 10 he reserved for retirement of debcnturc bonds
 The bond market was dull and only partly shared In the strength of stocks. Total sales, par value, S1. ts5, 000
 United States refundlng twos when ls- sued declined IA and the twos IS In the bid price. 4y4
 NEU YORK STOCK MI RKE1
 Opening, Highest, Lowest Quotations On the New York Stock Exchange, reported
 by Prince X Whitely, Brokers, 15 Center
 Street, New Haven.