The times. [volume] (Richmond, Va.) 1890-1903, 1900-05-03
BUSINESS DULL IN
STOCK MARKET
Sugar Stocks FIuctuated Constantly
During the Day.
BONDS DULL AND IRREGULAR
There Were Many Rumors Without
Notification on the Exchange. En-
gcnderins a Feeling OF Dread
Among Spectators.
BONDS DULL AND IRREGULAR

NEW YORK, May 2.-There were no
transactions of any Importance in the
stock market to-day. Sugar opened al
last nights price, and moved up at one
time a. points. closing with u net gain
of about 4 points. The constant fuctua-
tens of this stock offered the room
traders about their only opportunity for
securing d turn during the greater part
of the day, and they traded in 1t con-
Stantly in and out, helping on the aggre-
gate of sales recorded in the stock with
out making any impression on the stock
transfer books of the company News OF
the stock consisted of rumors without
Notification. There is undoubtedly a feel
ing of dread among spectators that there
mag be sudden and sensational develop
lncnts regarding the steel induStrlals, and
those stocks are sensitive to every passing
riiInor. They Were all weak to-day, Ten
nesSee Coal dropping at one time points.
The rally in the group indicated that
short selling was largely Responsible Tor
decline, and no very large offerings We're
brought out by the drop. Long Island
moved up 9i5 on top of yesterdays lol2
rise, and saved net gain OF points.
Adams Express gained S points. Outside
of these special movements the market
generally was dull and represented moth
Ing more important than the operations
of professional room traders OF smali
calibre.
The announcement of further gold en-
;,acements for tomorrow s French steam
cf of So 100, 900 was the signal for a gen
eral selling movement by this class OF
spectators. 1t had been taken for grant
ed that large exports OF gold would be
made by Saturdays steamer, but the ad-
diti0nal shipment by tomorrow 5 steam
er bringing the total to S2HDO,ooo, was q
surprise. This shipment is generally be-
licYed 10 represent 4 triangular operation;
that is to say, on London'S order TO meet
2 demand on that centre. Among the eX-
nurters are some who have suenuouSiE
held that no profit could be made IN eS-
porting gold at the highest figures Yet
touched for exchange, and the rate for
demand sterling to-day was nc IN the
pound lower than the highest rate touched
ON the movement.
II is fair to assume, therefore, that
some concession has been offered TO make
Z margin of profit on the transaction,
,ut in any event the metal is recognized
as befilt; in effect a loan. 1t IS evident
that the need of money here in active
trade has not kept pace With the cur
rency expansion. The lew rate OF money.
.oupIed With the large loans of New York
banks and their small surplus, reflect the
PagsrTaesS of capital TO place credits, but
the demand for credits is not sufficient TO
absorb the supply. so capitalists must
look abroad. where interest rates rule
higher Fer some Nine the merchandise
credits resulting from our favorable
trade. balance have been left at interest
abroad. This countrSSs large gold pro-
iuction and the present cutting off of the
source of supply for the money metal
The, net result is that we are not only re-
framing from calling home merchandise
credits but are shipping out the money
metal to meet the needs OF foreign
The bond market was dull and irregu-
lar Total sales, par value, Sl.4Ss 600
United States refunding rs when issued
advanced * and the S. old rs and new
as i In the hidp rice
ro-day's total stock sales were 500
shares
MONEY AND OBSERVATION-DISCLOSURES on
caif steady at 2GJ2ta per cent; last loan at
;Ier cent: prime mercantile paper, 4G4sa
per cent. Sterling exchange heavy. with
actual business in bankers bills al Sass
posred rates S4.S5d4. S51s and 81. S9d4. S9Ia:
commercial bills. S4-SIaGi.S4. Silver GER
tifcatts 6Od60Ia: bar silver, Go; Mexican.
dollars 49,. Government bonds strong;
State bonds inactive: railroad bonds dull.
STOCK QUOTATIONS.
CLOSING Stocks
Aiciiison pfd $500 Gass
Baltimore and Ohio ........-.... S2s,
canadian Pacific 9i3:
Canada Southern 5Sits
Ctes. and Ohio 29I4
Chicago Great Western .......... 13A
Chi. Bur. and Quincy. las
Chi, Ind and I........ 2S
Chi, ind. and L. pfd 53
Chi. and East Illinois ......... 100
Chi and Northwestern -..-... 16ig
Chi Rock Island and Pac. i07Ia
&. g, g. and 81. Louis ...-.... Coz.
Colorado Southern 6
Colorado Southern LIST pfd. a.
Colorado Southern ID pfd.......... l6ss
Del. and HUDSON 1l4k
Del, Lack. and Western. TT
Den. and Rio G.--..... ...-........ 1917
Den. and Rio G. ofd.....- 6al4
Erie IN
Erie LIST pfd .........-..... 3S5s
Great Northern pfd ............... 1908;