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Show IHKET'SGl I IS SHI I Bears Fail in Attempt to Make. iH Capital Out of King's III- ' ness and Death. iH GREAT BOND ISSUES H . HAVE BEEN PLACED ABROAD H This Is Held to Mean Clearing iH of Financial Skies in the iH United States. iH H BY RALPH EMEESON. By Leased Wire to Tho Tribune. NEW YORK, May 7. The nowa of thd IH serious illness of King Edward In ths 'H middle of the week had a more sorJoua effect on the stock market than his death. It was believed that tho turn for tho '1 hotter which tho market took in the mid- 'll die of the week wus a substantial one. '1 The railroad financing abroad and thu ,H rise which accompanied tho news hero il took a large part of the bear section by .H surprise, and it was obliged to retreat. H although it attempted to take refuge In LH the nows of King Edward's illness and 'H death. The bear party Is supposed to ilH have suffered heavy losses. i'H The placing of great bond Issues abroad ',H means the clearing of the financial skies MH in tho United States. Financial men be- lH llevcd there could bo no genuine con- 1 IH fldcnce In the future until a condition IH had been reached where thero was a mar- I IH kct upon which railroads could sell their 'H I per cent bonds to an advantage. In nearly tho past two years the bond mar- il kot in this country' has been so narrow IjH that the placing of 4 per cent issues hero "H meant nothing if not a loss to the com- H panics Issuing. llH It was announced after tho close of H business today that John Loeb & Co. and H Spier & Co. jointly had purchases from fH 1 the Baltimore & Ohio railroad S30,000,00i :H three-year 41 per cent notes, which will !H bo placed by bankers here and In Eu- lH rope. These notes are part of a $50,- IIH 000,000 Issue, of which 510,000,000 is be- lug reserved, fH Of the week's currency movement Neva 'H York banks gained $7,043,000. On trans- "H fer operations with the interior there has 'H been a net gain amounting to $7,668,000. but a loss of $625,000 on sub-treasury op- H eratlons. There were no gold exports. 'H President of the steel corporation sailed OH for Europe this week, predicting greater tH buBlnoss, not only In the steel Industry but in every branch of American enter- Out of respect to tho memory of Kins Edward, the stock markot session was H only an hour today. Tho opening was 'H gcnorally higher. Southern Pacific ad- 'H vanccd 1c on Initial sales. This helped SH Union Pacific, which Immediately ascend- iH cd 1c. A wide opening occurred In Steel. iiH prices ranging from 81Jc to 82jc, hut tl closod with a nut advance of one. point. In the copper stocks tho changes wero :H not so vory Important, Anaconda openlnti unchunged, Utah at a doclino of gc ana Amalmagated at a recession of sc, which was soon made up. Trading turned dull after thirty min- utes' trading with a slight docllne. South- jl em Railway Issues were strong on re- iH Iteration of the rumor .that dividends (jH would bo resumed on tho preferred stock. Tho sales were 261.034 shares. Money on call was nominally 4 per Sterling exchange was strong, 1 per cont higher today. All bonds wcro firm. Now York Flour nnd Grain. H By Associated Press. il NEW YORK. May 7. Flour Dull, and :H without chango. Spring patents. $5 25tfi) ;HH 5.55; winter patents, $6.15tfj5.50; winter 'H extras No. 1, $4.55tfpl,75; Kansas straights, IH ?I.S0tf'5.00; winter straights, $4.S5tf?5.00: IH spring clears, $4.20tfDi.50. winter extras. So 2, :!. 85(4.00. Receipts, 31,329 bar-rels: bar-rels: shipments, 982 ban-els., Wheat Snot. firm. No. 2 rod. 51.17, nominal c. I. f.; No. 1 northern, $1.21 J, iH nominal opening navigation Options Wheat was quiet, but prices tl wore firm on smnll offerings, predictions tH of frost in .the southwest and expecta- tlons of bullish government reports, clos- H ing at he decline to lc advance. H May. 51.17301. IS: closed, $1.18; July, ?1.12;fJ1.13!3: closed. $1.13; September. 31.10ftl.10 3-16; closed. ?t.l0i. Receipts, 'H 97.200 bushels. |