The Providence news. (Providence [R.I.]) 1891-1906, 1901-05-03
THE NEWS. PROVIDENCE. r.. L. FRIDAY. MAY 3 1901.
FINANCIAL NEWS


Wall street, May 3.-London had made
considerable inroads this morning upon
some OF yesterdays high prices OF Amer
lean stocks and the effect was manifest
here at the opening in some sharp do
ciines. but this was offset by the great
buoyancy shown by Atchison ST. Paul.
baltimore ana Ohio and few other
stocks
Atchison sold at the opening at SSia
TO go, compared with 81 last night on the
transfer Of 2S. 600 shares. st. Paul mount
ed quickly by jumps OF half point be-
tween sales. four points over last nights.
Ia Baltimore and ONO the opening was
At III 10 llila. compared with l09i2 last
night on the sale of 5000 shares
Chesapeake and Ohio. Western Union,
Atchison preferred and Denver preferred
We're also put up from 10 lts. while Ma
uonsl Biscuit rose ga. Union Pacific sold
down from l2S1a 10 127, compared with
l2Slz last night and the United states
steel stocks lost u for the preferred and
IA for the common. The losses else
where in the list ranged from a small
fraction 10 a point. Atchison ran off IL
after opening, but there were slight re-
coveries at some OF the weak points and
tone became very feverish.
relapse in the western stocks ex-
tending to 3ss In Rock Island, did not dis
turb the tremendous buying OF other
stocks especially United States steel and
the Southwestern railroads, Atchinson
preferred and st Paul preferred made a
bclated response 10 the early strength I'm
their common stock rising respectively 20
l0S and 200. The rise i'm Missouri Pacific
reached six points from the open and
Texas and Pacific. Kansas and Texas
common and preferred and Washbash
preferred improved from 2 10 81 from the
lowest. Illinois Central jumped 33s and N
Y G., and Pennsylvania were huoyant.
international Power and Buffalo,
Rochester and Pittsburg rose TO 3ls. At
midday prices were on the down grade
on realizing and short selling inspired by
the six per cent. money rate. The lead
ers were I'm some cases points below the
highest. a rise 10 near $50 In sugar and a
jump I'm Erie common 10 i2is did not hold
the market
Bonds were lower.
A general drift downward after the
opening carried prices under yesterdays
close a point or more IN the prominent
specialties including the New York pub
lie utilities. tobacco and peoples gas.
Northern Pacific ana Kansas and Texas
preferred suffered severely but Union
Pacific and the steel stocks met support
after the opening losses. The demand for
st. Paul was undated and it sold mp To
lo@ft, fduSlle fhllN IN Atcnison from
S7A 10 9Oh. which was above the opening.
The preferred rose 2as and there was q
rapid rise in Rock Island Of 5ai 70 1881.
These pronounced movements infused
a strengthening tone through the entire
list and buying became heavy all around.
Union Pacific and Northern Pacific more
than wiped out their losses and Denver
common got up 3ls. Al II o'clock there
was an active demand for the southwes-
tern stocks led by Missouri Pacific which
sold up 10 ll5. Speculation on the whole
was ''spotty." Many stocks going of on
profit taking, especially Union Pacific.
1 he buoyancy OF the grangers, however,
had n sustaining effect on western stocks
] y. m-There was spasm OF liquida-
ton and sharp break I'm prices after
midday, the bears selling short 10 take
the profits from the longs The grangers
and Pacihcs We're the severest sufferers
Rock Island dropped 6is. Union Pacific
~, Atchison 53s. the preferred 3A; St.
Paul 3Ss, Mo. Pacific 3k. Northern Pacif-
e and sugar 3ii, and a number of prori-
nent stocks from 2 to points There
VAS a rally before l o'clock reaching 1 80 |
points I'm some of the stocks hich had |
Ieen weakest but the buying demand was |
rot resumed In force ana the rally was |
rot well held