Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-05
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions. Etc.

New York, May 4.-The stock market
maintained Its narrow and professional
r character to-day. AS though TO vary
The appearance of recent monotony In
The market, yesterdays Slight upward
movement was continued at the OPEN
ing to-day instead OF starting in the
opposite direction. But this was hard
more than Il device OF the small ira
iers to give an appearance OF strength
20 the market. and their realizing sales
before the close brought prices back to
About last nights level and left the net
changes insignificant, except in Il few
usually inactive stocks. Sugar retained
Its relative prominence, though Oh a
decreased volume of dealings. 1t was
lifted above yesterdays close once or
twice with difficulty. and lost about a
point on the day. Long Island ran off
BE. seemingly on realizing on the sign
Ing by the Governor of the bill author
izing q railroad bridge at He'll Gate.
but in the late dealings the stock scored
rapid recovery of Az points. The
steel stocks showed some rather Ian
guild evidences of positive strength
without any particular news to account
for it. beyond the published opinion of
the president of the companies argu-
Ing that the present low stocks in the
yards and the impossibility of compe-
t!tion from Europe insures against any
considerable reaction in prices. The
strength Of the London market helped
the opening advance here, but London
sold moderately on the advance. The
usual forecast of to-morrow's bank
statement indicates that the loss OF
cash by reason of the gold exports.
amounting to S2600000. has been more
than offset by the gains On sub-treas-
ury operations and on the interior ex-
press movement. The gains from the
sub-treasury, allowing for operations
IL
gold for export, are S1,S00000. largely
by reason OF the payments of May in
terest on government bonds. The gain
of currency from the interior is eX-
pected to fall something below So. 000, 600,
which is half n million less than last
weeks gain. This indicates o gain in
cash by the banks on all accounts of
about $1,2000O0. AS the gold exported
is going abroad as loan, the reserve
requirements will be Increased by n
loan expansion. a bid was made on
the Stock Exchange of 3 per cent for
call loans. but no loan was placed at
that figure, while amounts were loaned
ut lower figures. both before and after
the bid. The Treasury's monthly state
ment of money in circulation attracted
attention as tending to explain the cur
rent ease in money rates. The state
ment shows an increase for the month
of April OF the money in circulation
exclusive of cash, In the Treasury. of
s39270,957, and an increase for the last
twelve months of $l26 657.571. Sterling
exchange was slightly firmer again to-
day. in spite Of slightly easier money
In London. but the present gold move
ment is towards Paris, and as no
steamer sails direct to France until
next Thursday. there are no exchange
bills offered for sale against export
gold.
The bond market was dull. but prices
were we'll held. Total sales par value,
S2.375, OOO
United States as coupon advanced q;
do. registered. u, and new and old as
Il In the bid price.
To-day's total stock sales were 22S, 500
shares.
New York, May 4.-standard Oil. 5i2
@545.