The times. [volume] (Richmond, Va.) 1890-1903, 1900-04-20
STOCK EXC HANGE
WAS VERY Dull
The Undertone Of Prices was, How
ever, Quite Strong.
BONDS MODERATELY ACTIVE
BONDS MODERATELY AC.
Money Continued Easy and Strong
Bank Statement is Confidently
Expected for Saturday.
Bears Raid Iron and Steel

NEW YORK. April Robustness on the
Stock Exchange to-day lapsed INTO con-
dition of dnilness and abandonment TO
the operations of small professional
traders. Much angry recri-ninauon con-
iinucs to be heard on all sides concern,
ing the bear raid on the iron and steer
stocks. Not only in the stock market,
but in the iron trade as well, accusations
of bad faith and double-dealing are ban
died about.
All other authorities in the trade dis
agree with the views of the chairman of
the Steel and Wire Company but the Iron
Age, which says in its review OF the sub
pected unless this development in the wire
trade should produce such an effect.
1t is the reservation thus expressed that
has SO effectually upset the speculative
work. Dealers in securities kept one eye
on the iron and steel stocks all day. and
the cratic and irregular movements in
that group kept the whole, market in q
feverish and uncertain state. When pres
sure there was relaxed there was a dis
position manifested to mark up prices
elsewhere, but the burden of selling met
on the advance. and gave the appearance
of a desire to realize on an extensive
scale, and took the sap out OF the market.
On the other hand, the majority of
stocks offered decreased materially on a
considerable decline. giving an under
tone of steadiness to prices. Notable
strength was shown at one time by the
Baltimore and Ohio stocks, and. on the
other hand, Southern Pacific suffered from
decided weakness
The one movement had about as much
effect on the general list as the other.
The sharp advance in the metal stocks
which followed the declines after the
opening was accompanied by a rise late
in the day to the best prices. But when
these stocks and Sugar gave way the
whole list followed, and the closing was
active and easy, considerably below the
best.
Sugar. after selling up as high as JOSH,
closed at net loss of . points. The news
of the day was generally ignored. 1t in
cluded a number of strong statements of
earnings for the second week in April,
especially by soft coal-carrying roads.
Rumors of new combinations of railroad
systems continue prevalent, The Chicago,
Indianapolis and Louisville is now said
TO be destined for absorption by the
Southern Railway, and there are stories
of Vanderbilt buying of Wabash securi-
ties. The Southwestern group of So
called Gould railroads are formed into
various combinations by the rumor mon
gers. The small amount of foreign
proxies voted at the New York Central
annual meeting was regarded as sigTliti-
priced securities and explanatory of the
upward movement of exchange which
continued to-day.
Money continues easy, and strong bank
statement on Saturday is considered as
sured.
The bond market was moderately active
and irregular Total sales, par value,
s1.795.o 900. United States 3's registered
and old is declined Il and the IS Is in the
bid price.
MONEY AND OBSERVATION-DISCLOSURES on
call steady at 2I1aGI3 per cent; last loan at
~ per cent; prime mercantile paper.
4MtG5 per cent Sterling exchange strong.
with actual business IN bankers bills at
S4.ST2. for demand and at S4S4 for sixty
days; posted rates. S4.si1a and S4.Ss1a;
commercial bills, S4.S3A "a. S32a. Silver
certificates. 6o&G61!s; bar silver, 59Is;
Mexican dollars. 47as. Government bonds
irregular; State bonds inactive; railroad
bonds firm.