The Providence news. (Providence [R.I.]) 1891-1906, 1901-05-13
FINANCIAL NEWS
BULLS AND BEARS.

Wall Street. May 13.--News from the
London market was scrutinized with live
~ interest in Wall street this morning
The beginning OF a fortnightly stock eN-
change settlement was expected 10 show
the effects of last weeks events here in-
cluding the corner I'm Northern Pacihc
and the fall Ina prices OF other stocks. The
news That "A settlement has been agreed
90 with the shorts In Northern Pacinc on
the basis OF i40 IN London was therefore
received with great satisfaction here.
That stock was lending Hat for the
stock exchange settlement. 81. Paul had
advanced Sla I'm London over Friday =
closing parity here and other leading
American stocks from n fraction 90 :
points. Reading, Baltimore and Ohio and
Pennsylvania were the only stocks 10 swho
important declines outside OF Northern
Pacific which fell 1874 as "A result or the
relief extended 10 the shorts. The course
OF prices here was strongly upward gem
orally at the opening but there were
few exceptions showing sharp losses / y.
sold at ll4ia to ll6. compared with III
ON Friday on the first sale OF l2,o~
shares.
Delaware and Hudson jumped ga, St
Paul 1872, Louisville and Missouri Pacinc
2ia each .Athcison 2ls and American To-
oacco and Continental Tobacco q "a
respectively, Amalgamated Copper was
advanced points and American Linseed
preferred sold six points higher. L. >.
steel sold at 80 TO -. compared on FRIDAY
on the sale OF 10000 shares but the pfd.
stnck-AlA- carried down tn % and a2 COM
pared with 93a4 on Friday on the sale
OF COCO shares. Tennessee Coal, Southern
Railway preferred and New York Cen
tral lost from Ia 10 ia.
Realizing by traders caused the active
stocks TO run off some OF them yielding
from I 10 points. The trunk line stocks
fell two points or more under FridayR Re-
newed buying OF Union Pacific carried IL
rapidly and feverishy upward 10 l25ia
and the general market rose strongly In
spots. 81. Paul advanced To l631s and
Amalgamated Copper to l22. There were
material gains I'm some usually inactive
stocks, such as Northwest, Chicago and
Eastern Illinois. Wisconsin Central pre-
ferred Consolidated Gas. General Elec-
tric, Colorado Fuel and American Ex-
press, which rose from 2A 10 five.
At II O'Clock the market was very ir-
regular, the buoysncy OF Union Pacific
being utilized TO cover sales elsewhere.
Brooklyn Transit was of one time over
points and Union Pacific and Amalga-
mated Copper as much from their top
figures. n. Y. Central and st. Paul rallied
strongly TO the fore.
The trend OF prices was decidedly
downward during the first part OF the
second hour on reduced dealings. The vio-
lence Of the advance in Union Pacific
caused some uneasiness and the buying
orders showed a notable falling Oft. Lib
eral selling OF L. 5. Steel, Union Pacific
and other railroad stocks caused sub
stantial recessions from the high level.
Northern Pacific sold up 10 points on sew
eTal small lots. The reaction reached
i'm Union Pacific four inr Amalgamated
Copper, five In Missouri Pacific, 3la in st.
Paul, and from / 70 3 points I'm other ac-
tive stocks. The tobacco stocks rose I'm
face OF the decline elsewhere Continental
Tobacco gaining Sls. Bonds were strong.