The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-05-11
THE MARKETS.
Wall atrsst Review.

New York, May to.--Rspid progress was made
in tc.csahlshing conHdencc in Wall street ,o
d,y and there was a natural rebound in pr'ccs.
That is to say the fact of the icbound wa,
,oiy natura, after the extent " the declines oi
yesterday, but the range of the recovery was
surprising. Large progress WIS ',auc .'Wa,u i,
wiping ou, the net losses Which r,mained last
neh, after tho recovery hail already sct III on
the exchange In n number of stocks witch were
not acutclv rNcctcd yestcrdaN. toihys v'ns
rose aIo,c Mcncsiays closing @ w ,S.'' n"crr% an" vi
with three points to spare. the extreme advance
psrhing fifteen points. There WAS good M u,al
vt reputation sill evident this morning, owing
to the vague dread that there might bc stock
exchange houses which would bc unable to meet
their obligations after Yesterdays drastic cS.
pc,icncr. The market va therefore unNt't'vu
and ic,crsh. cycn aftrt thu strong opening n"t
WHEN tho nttcial announcement was made ',iat
the clearing sheets Of all the members of tho
stock exchange had gone through tho stock c\.
change clearing house perfectly amd th,' al,
their drafts had been honotch feeling o' 'rl',
was manifested anl steadily grew Throughout
,hr day. In the latter part nf tho dnN 'hrfc
was n resumption " what 'nnhcd like .rctu'
litivr movement iur the rise led by mon
Pacific. The mio>ah,N Vt ih'' ,,"rn anu ,n.
accompanying strength If tho Southwrhn'n, vas
based up,n r,it,lpr. and assumptions. ot the b'h''
tits to a,cruc to Union pa"ii, nom 'ha'Gc
in control ~ Northern Pacific. which was s,'l'
stout, claimed hy thc lnion Pach" p'r,H.
tni"uhlci, there were vc,S many speculative
lusc,s NJ gr"a, resources IN III" collapse "t
THURSDAY who retained their nerve and deter.
minaiion md VIM sci about to rcrnrr tlwh''
selves hv new speculation IN The m'rkr;. o'Ntr
hu,rrs wcrr those whu lad gotten ont carly IL
Yesterdays slump and who still saw u pront in
getting back II, tn, prices riling to-day. The
bargain hintr,s wrsc also on hand IN consider
able force and there were tnany cash Transactions
both in bond. and stocks representing their rnI.
ci,,.rs This outcome ci afTa,s was pretty wei
assured when The news was learned this n,o'n
ING Of tho settlement effected with the shouts
in Northern Pacific oil the basis nj $50 per
STARE. This removed the oycr,ha'loMin. tear
from the market and thr quotations for Northern
Pacific on the tape NJ 80 still further al a,rl
thc apprehension. The stock sol, at 2O0 Tor cash
afterwards. hut the progress of ih" settlement
with tho shorts al the offices of the r'nt,iri'hs
interests in Northern Pacific prevented any '''r'
tlcr disturbance on that ground The measures
taken by the BANKS which placed heavy loans
in the market Yesterday. ana their decision not
10 call the loans tu,inN. roniNlcicd tho tranquil
izing influences. Tho market closed strong at
the toy with a feeling ~ relief over tomorrow :
holiday. The @ain in nion Pacific was -:
St Paul and Laoknwanna. ia, ton,oli'liic cd
Gas. I6: Burlington and Am,lgama,cd "copper"
l.ia: International Power. llia: baltimore
, and Ohio II: st. Louis Southwestern preferred
loi,: sugar. Delaware and Hudson amt General
Electric. 10. and representatives ot practirh'if
all the important groups from j 10 TO- Total
sales today. l.S6S. iD shares.
Bonds. which were weakest yesterday showed
scmc wide rccovcrics bat Others were weak
! Total sales. par val,c. Sj.03O,Ow. L. $. new
Is declined u per cent on the last call.
f-Nt eI,nl la