The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-05-05

STOCKS AND BONDS.

New York May 1.-THE stock market
maintained it's narrow and professional
character today, As though to vary the
appearance of recent monotony III the
market Yesterdays slight upward move
ment was continued at the opening TO-DAY
instead of starting in the opposite direc-
ton. But this was hardly more than
device Of the small traders to give an
appearance of strength to the market, ami
their realizing sales before the close
brought prices back to about last nights
level and left the net changes insignia
cant, except in a few usually inactive
stocks. American Sugar retained its
relative prominence though on ue-
creased volume of dealings. 1t was lifted
above yesterdays close once or twice win
difficulty and lost about point on the
day. Long Island ran Off three ana
half, seemingly on realizing on the
signing by the Governor of the bill au-
thorizing a railroad bridge at He'll Gate,
but in the late dealings the stock scored
a rapidly recovery of Az points. The
a rapid recovery of Az points. The
evidence of positive strength without any
particular news to account for it, be-
yond the published opinion of the presi-
dent of the companies, arguing that the
present low stocks in the yards and the
impossbilty of competition from Europe
insures against any considerable reaction
in prices The strength of the London
market helped the opening advance here,
but London sold moderately on advance.
The usual forecast of tomorrow's bank
statement indicates that the loss or cash
by reason of the gold exports, amount
ing to $500, 900, has been more than on
set by the gains on Treasury opera
tions and on the interior express move
ment. The gains from the Sub-Treasury,
allowing for operations with the assay
office on account of the gold for export,
are 81 800, 900, largely by reason OF the
payments of May interest on Government
bonds. The gain of currency from the
interior is expected to fall something be-
low 81, 000, 900 which is half a million less
than last weeks gain. This indicates a
gain in cash by the banks on all accounts
of about 81 200 900. AS the gold export
ed is going abroad as loan the reserve
requirements will be increased by loan
expansion. bid was made on the stock
exchange of per cent. for call loans, but
no loan was placed at that figure while
dluOuDto NClt ltducu dI lohti h6uiN''
both before and after the bid The Urea
sury's monthly statement of money in
circulation attracted attention as tending
to explain the current ease in money
rates. The statement shows an increase
for the month of April of the money in
circulation exclusive of cash in the
Treasury Of 30270,957, and an increase
for the last twelve months of $126,65i,571.
Sterling exchange was slightly frmer
again today in spite of slightly easier
money in London. but the present gold
movement is towards Paris, and as no
steamer sails direct to France until next
Thursday, there were no exchange bills
offered for sale against export gold.
The bond market was dull, but prices
were well held. Total sales (par value)
50 375, coo.
United States SIS coupon advanced y,
United States IS registered u and new
and old As 4 in the bid price.
The total sales of stocks today were
22S 800 shares. including the following:
Atchson. preferred, S.150; Manhattan
Elevated, 1896: Missouri Pacific, 1903
Pennsylvania Railroad, 1880; Chicago
Milwaukee and st. Paul, $3.50; Southern
Pacific, 697e: Union Pacific, 1881 Ameri-
can Steel and Wire, 5.075; Brooklyn Rapid
Transit, S,460; American Sugar 29,470.