The times. [volume] (Richmond, Va.) 1890-1903, 1900-05-02
STOCK MARKET
WAS APATHETIC
Prices as aRuIe Were Slightly Higher
Than the Day Before.
SUGAR STOCKS MORE QUIET
It's Range Was Limited to 4 Little
nrarry,t,roa F,o;rtS-TI,o Failure of
SUGAR STOCKS MORE QUIET
It's Range Was Limited to 4 Little
Over Three Points-Thc Failure of
Pennsylvania to Advance
Prices Had Little Effect.

NEW YORK, May I-Business was SO
auathelc and so narrow to-day IN the
stock market that little can be deduced
TO throw light on the business or financial
situation Prices are, as rule slightly
higher. but about the only explanation
TO be offered Is that room traders in stock
proved unable TO get them down, in spite
OF one or two incidents rather unfaTorable
TO values. and turned perforce to the long
side in order to get the requisite move
Jnent in prices to offer any field for trad
ing at all.
Even Sugar, although still absorbing a
large proportion of attention, became
comparatively quiescent and limited its
range to little over > points. The stock
moved both above and below last night.
The failure of the Pennsylvania direc-
tors 10 advance the semi-annua1 dividend
rate proved ineffective to awaken the
market from its apathy Most positive
assertions have been made in the board
room for many days that Pennsylvania s
dividend rate was to be advanced, and
there Were heavy operations on the bull
side based on these assertions. The Sl1sht
weakness manifested by tn stock on the
announcement OF the regular dividend
would be called fortitude in the market
were it not so mistakably Indifference
The presumable disappointment over the
Pennsylvania dividend, following the fall
ure of yesterdays rulnors regarding the
Missouri Pacific dividend to be realized
had only the slightest effect on these
stocks.
When the small bears had rather tmid-
" offered down Pennsylvania to a frac-
ton below last night without bringing
out any appreciate sales, the whole mar
ket took on a firmer tone. Missouri Pa
cific rose nearly points. but whether the
market moved up or down. the small pro-
fsSSional traders failed equally to attract
any following.
The closing was DUH ana heavy and net
changes We're mixed The local traction
stocks led by METROPOLITAN, showed
rather acute depression on account of
me judicial confirmation of the consu-
futionality OF the franchise law. The Re
public Iron and Steel stocks Were forced
down sharply on talk of a rupture of rela-
tons with other combinations in the steel
trade New York Air Brake dropped 10
points at the opening. but later rallied
IL Long Island advanced TO tIl2. com
iared with 81 Saturday, on the
strength OF pending legislation to author
izs an East River connection between It's
system and the outside railway world
New York Central rallied from TeSter-
DAYS depression on the hopes of settle
rnert of the threatened labor troubles
A small shipment of gold was announced
to go by Thursdays French steamer
The sterling exchange market was heayE
and reacted q fraction. but il is generally
expected that large shipments OF gold VIII
he made by next Saturdays steamers
The money market continues TO work
easier and the foreign banklng-honseS
are in the market seeking large loans on
foreign exchange collateral and offering
2lslI3 per cent. for sixty days
The bond market was dull and the gen
.raI tendency was fractional. Total sales
par value. $685., eco. United States re-
Funding rs Cxfen issued advanced Is, and
old Is and Us II in the bid price.
To-day's total stock sales We're S5s,loo
shares.
MONEY AND EXCHANGE.-Money on
cali steady at 2Gl2Ia per cent; last loan at
, per cent; prime mercantile paper, 4@4la
I1er cent. Sterling exchange heavy, with
actual business in bankers bills a SIS
siSty DAYS: posted rates, S4.S3@i. S512 and
81 Sa55s .S4lS: commercial bills. 81. S3I2I9
49,. Silver certificates, eoGio332 bar
eminent bonds strong: State bonds mac