The times. [volume] (Richmond, Va.) 1890-1903, 1899-05-23
AN APATHETIC
STOCK MARKET.
Prices Driited Downward During Most
Of the Days Dealings.
BOND MARKET SYMPATHETIC
And Abatcd Much of Its Recent Ac-
tiyity. showing Occasional Weak
ncss-Stocks Rallied Slightly
Later, Closing Firm.

NEW YORK May 22.-The market
orltc4 downward almost uninterrupted
to-day until tne aggressive upward move
mnent I'm sugar developed late in the DAY.
This seemed 90 affect the whole list by
sympathy. and prices retraced their ear
Her downward course. They only rccOv-
ttcu To saturday. s. level. however, IN a
rev cases. LOSSES on the day are gcnor-
ally within a. point OF the lowest IN most
railroad and prominent stocks. There
was 40 real support TO the market al any
Time the outside interest in securities
being about niL Neither was there any
serious prc sure OF liquidation. The re-
suit WAS "a uull ana apathctic market with
inc bears nibbling here and there to de-
Nclop weak points in the list They were
nor aggressive lu their tactics, and did
iot olsiodge any large amount OF stocks.
the market becoming practically staguQnt
whenever this short selling was desistcd
from. Tho dropping tendency of prices
was nevertheless very marked, anc was
assisted oy positive weakness al lew
points.
Stocks OF companies which profit by
franchises within the state OF New York
were especially weak ON the assembling
OF a special session Of the Legislature 20
act on the franchise tax BILL Metropoh-
tan Street railway Manhattan. Cousoii-
dated Gas and Brooklyn Transit all
showed conspicuous declines. extending
from To- points and over In the case
Of AN bat Manhattan. Third-AVcnue was
"a conspicuous exception TO the group. and
rose 4 points ON "a proposed new stock
issue. These stocks dritted during the
Gay on political gossip regarding the
bic rallies. the net losses being small cX-
cept I'm the case Of Brooklyn Transit and
Consolidated Gas. which closed points
lower.
Tho grain-carryine railways. both in tho
West and Southwest. were faVoritcs of
inc bears on continued talk oI crop dam
age Anaconda Mining, American Smelt-
ing. tho iron and steel stocks generally.
and number Of new industrlals showed
conspicuous weakness ON the other
hand. Now York AIT Brake was marked
up leo per cent and Ann Arbor preferred,
usually very inactive rose 3 points.
The afternoon rally was induced 10y the
vigorous upward movement in sugar 10
l0l on very large and confident buying.
The untaslnfss OF the shorts over TINS
demonstration Of strength drove them 90
cover in other stocks. making the close
quito active aud firm
The holiday m London withdrew the
usual influence from tnHt source. Money
continued abundant and easy. ana the
foreign exchange market abated none of
lts nlnntss. thought there was no large
demand for bills
The bond market was affected I'm SYM
patfy with stocks. and showed am ahate-
meut 0f IT'S recent activity. and developed
weakness in spots. Early in the day there
was continuance OF the large absorption
Of some of the new issues but this fen
OF as fne day progressed. 1oial saleS'
$1,000.
MONEY AND ENCHANGE.-Nlonoy on
call steady at 304 per cent. last loan al
per cent. prime mercantile paper 5l4lt
a., per cent. Sterling exchange firm. with
actual business in bankers bulls 40 Sf.Sr.
04N7ai for demand and at S4.S3'2H4SJ+
for sixty DAYS. posted rates. $iebia ana
50 ssh. commercial bills. S4S5ui SOFA Sill
ver certificate. 61is uG2t. bar silver. CHS,
Mexican dollars. $50. Government bonds
steady. State bonds inactive. railroad
bonds Irregular. Government bonds show
ed poo change Iu quotations.
The total sales of stocks were 42lFl
shares. including AtchisOn preferred. %
N.-. EurHnrton. III $50. Manhattan. 49,
900 Metropoiitan cOj5. Missouri Pacific.
qO10. Northern Pacific. 1850, Rock
Island. 11aJ. Union Pacific, ego, 81.
Paul 40. American steel and Wire,
10000. Federal Steel 2l.1,5. Peoples Gas,
1f SID. TrnoEyn Transit. - 800. Cont
ucnfal ITO tcco 80. Silver Certificates,
% 600. Suc.r. a. 50.