The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-17

Bar silver. New York. .5955 5SiS
Call money New York; 2+5 4-6
NEW YORK, May 16-+Tnere was a
still further lapse of interest in the stock
market today, as was shown in the de-
cline in the volume of dealings to he
low a million shares for the first time
since the last boom attained force The
market also gave evidence Of further
There was still q rather feverish price
movement, but the oscillations showed
lessening tendency. These are pne-
nomena which invariably follow a panic
the first rebound do not carry prices
back as low as the panic level. nor do
the rebounds reach as high as the pre-
vious level. After the violence OF tho
| TO be dull period and graYitating ten
dency to a lower level unless some new
factors of strength. develop to reawaken
| outside buying demand. Today the spec
ulative contingent was inclined to look
Tor such new influence to the prom
lSed settlement of the Northern Pacific
dispute. No authentic information can
! ee had as to the terms of this agree
ment but it is generally accepted in
wall street that it will insure the safe
guarding of the interests which deem
| themselves threatened by! the Burlington
deal without retra citing from the. benefit
OF That deal to its original projectors
me rapid progress reported to be making
In the deposit OF Burlington stocks to
| be exchanged for the new bonds seemed
to insure the rapid contamination of the
burlington deal itself The effect of
S S4 OK aeveiopment was most manifest in
Pacific, owing to the abnormal standing
! OF that stock in the market was not an
index to the. situation. The, process of
| stock affected it to some extent "a fne
same way. The advancing tendency IN
Union Pacific was constantly checked,
supposedly by the surmises as to fhe
n1n0inC mn
Northern Pacific stock made in the com
pany s interest. The advance in st. paul
/ over last nights level reached 7ss. In
! Western and Rock Island AZ. Another
! active center of speculation was AmaIga
mated Copper. in which the buying was
large. apparently by insideyinterests and
! regarding which various favorable items
| OF news were published. during the daY
Inc most important was the reported
| intention of the vice chancellor of New
the absorption of the Butte & Boston
and the Boston G. Montana companies.
IN Inc stock advanced at fpne time ~.
! There were various other points of sn1-
cial strength. the cause Of which were
not always disclosed Ff1fs interventiono
al power advanced 101a- Minneapolis 4,
81. Louis rs on expectation of a divt-
d d Increase, American = Express 81.
consolidated Gas 51k, LakerErie & Nesr,,
| ern "a. Iowa Central preferred, s. and
I Ruiima m AZ The relaxation of forced
hight Fbuy-
Ing orders. effective at advancing prices
1hefes was undoubtedly a good deal Of
manipulation by insiders in the interest,"
| OF better prices. but there was also a
CROWN In Investment demand for good
alVldend payers. But not less strikine
IMAM the strength with which prices adj.
Hdnceu was the case with which tney
, were forced down again under Very
IlSht seiilng, with which, the day closed
prices all the way from 1rto 5 points be,
low the best, and with net changes a
good deal mixed and for the most part
small. reports of needed rains in the
southwest We're anlenceuraging feature
early, ana the growth of labor troubles
caused some uneasiness.s especially the
candid admission by the4ieading pul1i;o
catlon In the. interest of the iron trad
that there may be widespread labor dis.
Luroances in that trade after. July I
The ease in the money market was due
entirely to the falling off in demand and
speculation as old causes are tending to
a steady depletion of New York. bank
The bond market, was broad and rnoder-
ately active and price changes were ir,
regular Total sales, par value. 81, 845. COO
United States bonds We're all unchanged
on the last call =
~. ~ STOCKS. - .7!5sts4..
Furnished by. Charles H. F. Smith &
Co., members OF the New YORK. Stock
Exchange, Pioneer Press building VINO
nave direct wires to Chicago and Nv
YORK Closing prices are bid.
.Iiao2 Closing.