The daily morning journal and courier., 1900-05-05
EtmanernI.
THE STOCK MARKET.
Iatntaims It's Narrow and Professional
 Character

| Character.
 1 New York, May 4.-The stock market maintained it's narrow and professional character to-day. Yesterdays slight upward movement was continued at the opening to-day, instead of starting in 1 the opposite direction; but this was hardly more than device of the small traders to give an appearance of strength to the market, and their real l izing sales before the close brought prices back to about last nights level and left the net changes Insignificant, except in a few usually inactive stocks Sugar retained it's relative prominence,
 though on decreased volume of deal ings. It was lifted above yesterdays clCse once or twice with difficulty, and loses about a point for the day. Long Island ran off 91a seemingly on reaiz- ing, on the signing by the governor of
 the bill authorizing railroad bridge at Hell Gate, but in the late dealings the
 stock scored rapid recovery of 4la
 points
 The steel stocks showed some rather
 languid evidences of positive strength without any particular news to account for it, beyond the published opinion of
 the president of one of the companies, arguing that the present low stocks in the yards and the impossblllty of com
 petition from Europe insures against any considerable reaction in prices. The strength of the London market helped the opening advance here, bat London sold moderately on the advance.
 The usual forecast of to-morroW's bank statement indicates that the loss of cash by reason of the gold exports. amounting to $2,600,000, has been more than offset by the gains on sub-treasury operations and on the interior express movement. The gains from the sub treasury allowing for operations with the assay office on account of the gold for export, are $1,S00,0O0 largely by req son of the payments of May interest on government bonds. The gain of curren" cy from the interior is expected to fall something below $2,00o,000, which is half a million less than last weeks gain This indicates Il gain in cash by the banks on all accounts of about $l,200,- 000
 As the gold exported is going abroad q S loan, the reserve requirements will be increased by a loan expansion. bid was made on the stock exchange of per cent for call loans. But no loan was placed at that figure, while amounts were loaned at lower figures both before and after the bid. The treasury month ly statement of money in circulation attracted attention as tending to eX- plain the current ease in money rates, The statement shows an increase for the month of April of the money in cir cuation, exclusive of cash in the treas ury, of $39, 9,270,957 and an increase for the last twelve months of $l26.657, ,771 Sterling exchange was slightly firmer again to-day in spite of slightly easier money in London. But the present gold movement is towards Paris, and as no steamer sails direct for France until next Thursday, there were no exchange bills offered for sale against gold ex- port.
 The bond market was dull, but prices were well held. Total sales par value s2,S75,000.
 United States threes coupon advanced %, United States threes coupon adyanc- ed registered F and new and old fours 14 in the bid price