The Saint Paul globe., 1900-05-16
PUBLIC ggL!!Gg NOT N SIGHT
DEALINGS IN STOCKS AGAIN CON-
FINED LARGELY TO PROFESS
SIONAL ELEMENT
INDUsTRIALs WERE WEAKER
Among Notable Exceptions Were the
Group of New York City Stocks
-BurIinsst Led Among
Railroads.

NEW YORK, May 15-Operations in
the stock market continued TO be left
largely TO professional hands today. The
movement was exceedingly irregular and
confused all day. Generally speaking, it
could fairly be said that railroad stocks
were firm TO strong, while the indus
trials We're weak. This distinction was
obvious at the opening of the market,
and the day s trading tended rather to
emphasize it. except that the demoraliz-
ing tendency in the steel indu5tr.aIs ul-
timately affected the whole list and drag
ged back even the strongest of the rail-
roads. There was a brief show OF
strength after the opening by Federal
Steel and Steel and Wlre, probably on
covering of shorts sold III yesterday S
break But in the late trading these
fell to the lowest in the present move
ment. The extreme declines ranged all
the way from l TO nearly points, the
latter Tennessee Coal There was no
definite news TO account for the weak
ness, but runners were plentiful that div
ldends would be reduced or passed and
that further deep cuts were pending in
the price of the output of the largest
competitor OF the steel companies whose
stocks are dealt IN on the Stock OK
change. The declaration of first divl-
def;d on the common stock of National
Tube and the reports of the reopening OF
sundry mills had no effect in checking
the decline
Among the notable exceptions to the
We're the group Of New York city stocks
including American Ice. Consolidated
Gas led in the rise of 5 points, and the
local fractions responded A meeting of
the directors Cf the American Refining
company caused uneasy demand from
the shorts which lifted the stocks at one
time 2hi.
In the railroad list. BURLINGTON con-
tinued in good demand a an extreme ad-
vance of l5s in spite Of derials of ~
mored refunding~ plan. The granger
groups and W NeStern railroad stocks wen e
most benefited in sympathy and showed
good advances, in spite Of reports Of de-
cHning traffic, both east and westbound
There was said to be large buying for ac-
count OF an outstanding short interest
IN the West for the railroad list The
international department. was helped by
some buying for London account Wnere
prices rallied on easier money and the
encouI aging war news.
The relief 30 the London money market
afforded BY the receipts of Russian gold
arouseS the hope that no immediate de-
ilahd VIII be made on New York by Lon
uon. Tor gold / his was an influence in
the days strength in our stock market
although il is expected that further ship
ments VIII be made to Paris by Thurs
days steamer.
The statement Of The ADril fcreia,7
trade OF TIE United States disclosing a
maintenance of extraordinary favorab e
condltlons have elevated somewhat the
terror trade TIE market closed heavy
and unsettled by the break in tho steel
indust1ia.s the railroad stocks holding
onl a part of their gain.
The bond market was not active bur
prices were held well. Total sales mar.
value, %l,075,000. United States refundIng
IS issued advanced 1sc, and IS and new
is, &c in the bid price
STOCK QUOTATIONS.
Furnished by Charles Fl. f. Smith &
20, members of the New York Stock ex-
Ih3nge piAnRap
direct wires 10 Chicago and New York.
Closing prices are bid: