The times., 1899-05-06
APATHY MARKS THE
TRADING IN STOCKS
The Market a Dull and Fea-
tureleSs Concern.
Spectators Find the Situation
Barren Of Attraction.
Changes Most Pronounced in Indus
trials and SpcciaIties-Anothe
Drop in Sugar Refining.

New York May 5.-Today's stock mar
fet was an unusually dull and spiritless
affair. There was little in the actual out
side situation to induce new ventures on
either side OF the account. Yesterday 5
despicable rumors were not repeated,
which while matter for congratulation,
left the speculation without any real or
fictitious stimuli for action. The traffic re-
turns for the last week of April. reported
today, made diversified showing. Where
increases were shown they were uniformly
smaller and in some cases, notably in the
instance of Missouri Pacific, heavy fail
ing OF appeared. On the other hand, it
was pointed out that the final week OF
April last year had one more working day
than last week, which. in fact, accounted
for the showings made by the various
companies.
The passages through the clearing house
of the first Treasury warrant on account
of the Spanish indemnity made the sub
treasury a larger debtor at the clearing
house settlement, and chiefly on the same
account the City National Bank was a
large creditor. Warrants for $4,000, 600
will be sent through the clearing house on
Tuesday next and the remainder will be
eashed later on. The sapient critics who
have contested the idea that the payment
Of the Spanish indemnity would increase
the cash holdings of the New York banks
may now rise and explain.
II was announced in the afternoon that
the offering of the Amalgamated Copper
Company stock has been subscribed Tor
i've and a half times over by five thousand
applicants. The allotments will not be
announced before the middle of next
week. but in the curb market the sub
srriptions were offered down from 140 to
the neighborhood of par. which, of course,
reflects nothing more than the speculative
character OF most OF the applications for
the stock. Little definite was learned in
regard 90 the progress making in the
proposed other gigantic combination in the
steel trade. AS the matter is now mooted
the proposition is well nigh dazzling. IL
is undoubtedly magnificent, but the query
whether IL is business, naturally suggests
itself. Neither the money market nor the
foreign exchange market developed fsa-
lures of interest slight evidences. how
ever, of easier conditions appearing in
both quarters. Silver bullion continued
its retrograde course
In so far as any general tendency could
be assigned to the market it could be
designated as heavy. The market moved
with considerable uniformity in respect
to course, though the industrials and the
speciaities naturally showed the most pro-
nounced changes. There was renewed
pressure in Sugar Refining, which carried
that stock down. and the steel industrials
we're not conspicuously strong. notwith-
standing the general amalgamation project
The granger shares, the Pacific stocks,
Atchison. and the shares of the other grain
carrying roads were also heavy. Further
liquidation in the anthracite coal stocks
notably In the Reading issues, was referred
10 fears that the grain handlers strike at
Buffalo might become general. Little at
tention was paid to the tendency Of the
London market and the purchase for for
eign account of about Il. 600 shares of stock
had no effect in the local market. The
close was active and weak.