The times. [volume] (Richmond, Va.) 1890-1903, 1899-05-07
STOCK MARKET
WAS STILL WEAK.
Speculation Feverish With No Impor-
tant News Influences.
UNFAV0RABLE BANK STATEMENT
ACccntuatcd the Weakness Already
Existing Bond Prices for the
Week Have Shaded or Irrcgu-
larry and Sales Contracted.

NEW YORK. May 1.-THE weakness
which pcrNadCd the stock market to-day
was accumulated hy 81 bank statement
much more unfavOrablc than expected.
Tho surplus reserve fell off over SG,Vopn,
hnd tho loan account showed the largest
expansion this year, increasing over Slb.-
10000. Speculation was very fCVcrisu,
with no important news influences. save
some agitation over tho possibility OF
European complication over IransVaa ar
Iairs. London figured very slightly pm the
days transactions. The expressed opin-
Ion Of certain railroad officials that some
decrease I'm gross earnings Tor May might
be eXpcctd induced selling Of the grang-
ors and trey showed average declines or
over point. The c0alers were weak. the
maximum decline being that of Rca1ing
preferred, 2'z Tho iron and steel shares
were also weak, Federal steel and Amcu-
can steel and Wire being of about ~
each. Manhattan. Brooklyn Transit and
metropolitan street railway declined about
point The decline over 2 points in Ana
Couda was sympathetic with the weakness
FOR the when issued certificates of the
Amalgamated Copper Company on tho
curb" Consolidated Gas. which gained
10 points. being about the only feature or
strength in the list. was bought because
Of rumorod withdrawal Of tho reduction
in price by another company bat 80 was
assorted positively that the reduced rates
would be maintained and that no change
IN the gas situation had been effected
The feebleucss Of rallies ana the seeming
absence OF inside support discouraged
and the market closed weak.
Tho bond market during the week did
not fully reflect tho extensive liquidation
IN stocks, many issues showing cOnsldcrd-
bic strength. Prices in the main shaded
Off ire RIlnrly. with business contracting
on sales. United States 3's registered ad-
Nanced IS ana do. coupon ana tuc new
- coupon Is I'm the bid price. The is reg
istered lost * per cent.
Tho total sales or stocks to-day were
f46aO shares. including $50 Atchison
preferred. 12GIj Chicago. Burlington and
Quincy, 14,125 Manhattan; 1000 missouri
Pacific. 5.S2J New York Central, GOO
Northern Pacific. 1880 Rock Island.
9 245 Union Pacific. II 40 American steel
pies Gas. % $50 Consolidated CAS- |p, 4lt
Brooklyn Rapid Transit. So 10 Sugar
MONEY or EXCHANGE Money on
Call steady at per cent. prime mcrcan-
tile paper 3i2Uiii per cent Sterling eN-
change steady. with actual business i'm
bankers bills 40 81 81, "A S7ia for demand
rates 81 S6i404SSla. commercial bills
So Srgd4.s5 Silver certificates. GlhH62if;
bar silver, 6lls Mexican dollars 4N. State
bonds inactive. railroad bonds Irregular
Government bonds strong.
BANK STATEMENT The weekly bank
statement shows the following changes.
Surplus reserve dccreascd......S 61f2.I2j
Loans increased .............-.. IOGD3 ITO
Legal tenders decreased ........ l.4d1..hO
Deposits increased ...... ......... 1000. 100
Circulation decreased ...-....-.. 1900
The banks now hold Sl931l $50 i'm eX-
Cess of the requirements of the - per
cont. rule.