The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-04
tOfered.
NEW YORK MINING STOCKS.

NEW YORK STOCK GOSSIP-Strong.
Sturgis & Co. wire H. Holbert & Son:
One of the least desirable elements con-
nected with the present market is the
very expanded nature of speculation and
the enormous amount Of htgn-prtced
stocks held by people who have become
infected with the idea that all they
had to do was to buy in order to acquire
great profits. Many Of these interests
are indifferently margined, and are the
property of inexperienced operators. We
have looked with much suspicion at the
market for some time, and therefore REQ
ogniZe that our views are not entitled
to the consideration that urder other
circumstances might be accorded to them,
but we cannot deviate from the judg-
ment passed by us some time ago, that
operating upon expected combinations
and uncertain deals was attended with
more danger by far at a time like this
than was generally realized end appre-
ciated. It has not become a question OF
values in this market, but q question of
by those who were largely interested
therein. Absolute knowledge Of such
combinations has been g. source of i'm
nense profit, but the average operator
right, Is in a position of lamentable I'M
certainty when the market turns and de-
clines some 10 points IL his hands.
FOREIGN FINANCIAL = New York
May 3.-Commercial Advertisers London
financial cablegram: The activity and
cheerfulness which have prevailed in the
tinued today. In the words Of the
brokers, Americans were first, the rest
nowhere; Indeed, in this department
the trading was nothing less than fractic
prices were Of the most violent charac-
ter, heavy waves of profit taking being
succeeded by equally heavy buying move
1lnents. New York took a hand in max
ing the mad see-saw swing, but in the
street this support vanished suddenly
and a sharp collapse ensued. During
dow "A fn1f i'd
92Ss, finishing in the street at 1874 Den
Yer & Rio Grande went from 49, to 1884,
back to 525s; Baltimore & Ohio from 113A
to 121 back to 1857. Chicago, milwaukee,
& st: Paul from 1857 to 188 to 185. Union
Pac1fics were heavy all day at about
1907. slumping in the street at 126 The
ings and Southerns are the only railway
stocks left to take in hand. Steel shares
reiapsed on profit-taking. They were
dealt in today in Amsterdam for the first
money and bills were steady. There
were large repaynents to the Bank of
England, but Paris exchange was a shade
higher than yesterday. The shipments
of gold from America to London were a
surprise. 1t was feared they would be
diverted to Paris. The bank bought
10000 gold in bars
., London. May S,-Consols for money
"a 9-16; consols for the account. "a 1915
NEW YORK MONEY-New York, May
S.-close: Money on call firm at 5@7
Prime mercantile paper S%@41S per cent.
Sterling exchange easier, with actual
business in bankers bills at s4.SS for de-
Posted rates. $4.851a94.S6 and s4.S9 Com
mercial bills, 81. S4q4. S41k. Silver cer+M-
Gates, 6oc: Bar silver, 59szc. Mexican
dollars. 481ac.
TREASURY BALANCES Washington,
May 3.-Todays statement Of the treas
ury balances in the general fund ex-
elusive of the $50, 900, 900 gold reserve in
the division Of redemption, shows: Avail
able cash balance, $156. S34 $50; gold. sS7.-
374. $780,
BANK CLEARINGs.
St. Paul, $977,0A.
Minneapolis, g. LEA. 49,
New York. $4S4 626 $50.