The times. [volume] (Richmond, Va.) 1890-1903, 1900-05-23
STOCK MARKET
VERY APATHET TIC
Sugar Was Dealt in to Practical Ex-
c'usion of All Else.
MOVEMENTS. CHARACTERISTIC.
rs CHARACTERISTIC.
Fluctuations We're Frequent. Violent
and Erratic. With No News to
Account FOR Them Beyond the
Airicst OF Rumors.

NEW YORK, May 22.-Sugar certif-
Gates occupied the attention of the Stock
Exchange to-day, TO tfle practical eXclu-
sion OF Other. considerations. The apathy
and lassitude of the market seemed to
spur the professional traders to a search
for some medium of operation, and they
gave themselves up to a speculative revel
in Sugar The movement of the stock
was highly characteristic. That is to
say, the fluctuations were frequent, vio-
lent and erratic, and there was 10 news
to account for them beyond the ARREST
and most unsubstantial rurnors. Also. it
WAS evident that the enormous business
being done would necessitate very little
clerical labor on the transfer books OF
the company Probably the large maJori-
ty OF the contracts made, either for sale
for purchase. were closed out before
The END Of The gay the profit or 495s
stocks extreme range was rs points, ana
the net gain was as. In the opening
dealings the price went down in continual
ton OF yesterdays depression. After de-
Ginning l3s the advance began, and it had
not proceeded far before the shorts be-
gan TO manifest distress, and rushed TO
cover, pushing the price up TO the maxi
mum. The squeeze was not relaxed until
the demand from the shorts. was pretty
well satisfied. The price then began to
fall back on light transactions and with
out any evidence of support The bears
became weary after their punishment
and refrained from aggressive Selling, in
spite OF the announcements made on OIL
cial authority just before the close that
the sugar trade war had not been settled
and was not likely to be. The leading in
dustriais showed sympathy with Sugar.
especially American Tobacco, which is
nearest kin to 1t in speculative character.
The latter stock showed better resistance
10 reaction than other specialtes, which
generally lost pretty much all their gains
The general list continued in slough of
despond, and moved either way with
great difficulty. Opening prices were
there was a midday rally when Sugar
shot upward, and Chicago and North
western was marked up 51%. The latter
movement was without explanation be-
yond the large increase in earnings for
April, which was reported yesterday.
Northern Pacific was comparatively firm
on a good statement for the second week
In May. Baltimore and Ohio was well
supported on small dealings. For the rest
the trading was Gstless and Indifferent,
with no evidence Of outside interest.
The speculative apathy and depression
were common to all the great securities
markets Of the world, and even the specu-
lative markets for foodstuffs and com
modities showed declining tendency.
Sterling exchange here was decidedly
easier, but it is considered not impossible
that some gold may be engaged for Paris
tomorrow. tsh
The bond market was dull and irregular
to-day. Total sales. par value; ZOO
United States refunding IS when issued
declined u, the Us and old As q. and the
SIS and new As u in thebid price.
To-day's total stock sales were 10000
shares.
MONEY AND EXCHANGE on
call easy at ia4@2 per cent: last loan at
"a per cent; prime mercantile paper, 53taGp
az, per cent. Sterling exchange easy,
with actual business in bankers bills at
81 ST34 "a. S1A for demand and at 4.SiA4I
4S4.G for sixty days; posted rates, S4.Sl!a
M4 50; commercial bills. 81. S4di. S4l2. Sill
Yer certificates, 60ha6oH.: bar silver, cos;
Mexican dollars. 4,i3. Government bonds
weak: State bonds strong: railroad bonds