The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-04

NEW YORK, May 3.-Today's stock
market was virtually at standstill dur
ing the greater part OF the days session.
1t opened firm and with a show Of ANNA
ton which probably reflected the relief
felt at the prospect of settlement of the
railway strike on the lines terminating at
Buffalo. On this account New York Cen
trail rose quite sharply and a moderate i'm
provement appeared throughout the rail-
way list Rather pronounced recoveries
were scored also in Tennessee Coal and
Iron, National Tube, and in the Industrial
quarter generally, and all the local trac-
tion issues we're decidedly strong.
After the opening dealings, the trading
fell away materially in volume and the
market developed an irregular tendency.
In number of instances the railway list
sagged away to a level below the final
figures of yesterday, and in every case
the initial gains were materially shaded.
Sugar Refining was still the conspicuous
feature of the market in respect to activ-
ity and in extent of fluctuations. but it
was again the case that nothing tangible
came to light concerning its wide move
ments.
Aside from the progress made toward
the settlement of the Buffalo railway
strike there was virtually nothing n the
news of the morning with any bearing
upon the C1srket or particular stocks. Lon
don furnished a lower range of prices,
and en balance foreign houses were sellers
here to the extent of $4,000 shares, but
neither circumstance was particularly eff
feetive as regarded the local dealings.
TIE London market was reported as clos
ing quite firm, however, on the more en-
couraging progress of the British forces
In South Africa.
The local money market continued ex-
tremely easy throughout the day, although
todays figures of the transactions between
the banks ard the Sub-Treasury showed
loss to the former since last Friday OF
nearly s1,700, 900. This loss, and that in
cidental to the weeks gold shipments,
would appear to involve quite material
reduction in surplus reserves in next Sat
urday's statement, but in the absence of
any change in actual money market con-
ditions scant attention was paid 10 this
probability.
The traffic returns submitted today nota-
bly, those of the st. Paul Company for the
last week of the month, are highly graft
flying, but they were hardly factor in the
days dealings. The trading continued as
wholly professional as it has been
Throughout the week. There was again an
absence Of any actual pressure from out
side sources, but the professional element
are still bearish TO man. and they have
little difficulty in forcing temporarily
lower range of prices. Should on one ae-
count or another, they find it desirable or
expedient TO cover their commitments on
the short side, it is highly probable that
the absence of any considerable liquida-
ton would render their task difficult one
and would cut sharply into the paper
profits now showing en- their contracts.
AS against the absence of any consider
able outside liquidation, however, 1t may
be noted that those interests usually active
Oh what may be called the constructive
side of the market appear to be indisposed
30 do anything either to support prices or
even to reT Ter uncomfortable the position
of the short interest III the market.