Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-02
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, May 1.--I5usiness was so
apathetic and so narrow to-day in the
stock market that little can be deduced
to throw light on the business or finan-
cial situation. Prices are as II rule.
Slightly higher, but about the only eX-
PLANTATION TO be offered is that room ira
ders In stocks proved unable to get
them down. in spite Of one or two incl
den.s rather unfavorable to value, and
turned perforce 20 the long side in order
to get the requisite movement in prices
to offer any field for trading at ali.
Even Sugar, although still absorbing u
large proportion of attention, became
comparatively quiescent and limited it's
range to u little over points. The
stock moved both above and below last
night. The failure Of the Pennsylvania
directors to advance the scmi-annual
dividend rate proved ineffective to
awaken the market from its apathy.The
most positive assertions have been
made in the board room for many days
that Penhylvania's dividend rate was to
be advanced, and there have been
heavy operations on the bull side on
these assertions.
The slight weakness manifested by
the stock on the announcement OF the
regular dividend would be called forti-
tude in the market were 1t not SO I'M
mlstakably Indifferent. The presumable
disappointment over the Pennsylvania
dividend. following the failure of yes
terdays rumors regarding the Missouri
Pacific dividend 10 be realized, had only
the slightest effect on these stocks.
When the small bears had rather timid-
ly offered down pennsylvania to a frac-
ton below last night. without bringing
out any appreciable sales, the whole
market took on a firmer tone. Missouri
Pacific rose nearly . points, but
whether the market moved up or down.
the small professional traders failed
equally to attract any following. The
closing was dun and heavy, and net
changes were mixed. The local trac-
ton stocks. led by Metropolitan, show
ed rather acute depression on account
of the JudIcIaT continuation or The con-
stitutionalitr of the franchise tax law.
The Republic Iron and Steel stocks
were forced down sharply on talk of
rupture of relations with other comb-
nations in the steel range. New York
Air Brake dropped 10 points at the
opening, but later rallied. Long Island
advanced TO T7ia. compared with 67 on
Saturday, on the strength Of pending
legislation to authorize an East river
connection between its system and the
outside railroad world. The New York
Central rallied from yesterdays depres-
sion on the hopes of settlement of the
threatened labor troubles
a small shipment Of gold was an
nounced to go by Thursdays French
steamer. The sterling exchange mar
ket was heavy and reacted fraction.
but 1t is generally expected that large
shipments of gold will be made by next
Saturdays steamers. The money mar
ket continues to work easier, and the
foreign banking houses are in the mar
ket seeking large loans on foreign ex-
change collateral and Offering 21A@3
per cent. for sixty days.
The bond market was dull, and the
general tendency was fractional. Total
sales. par value. S1.395, 900.
United States refundng 2's. when Is
sued advanced n. and old As and 5's
Il in the bid price
Total stock sales were 33S. 100 shares
New York, May 1.-Standard oil. 5..37
@5.40.