The Birmingham age-herald., 1902-05-26
LARGE BUYING OF
 CANADIAN PACIFIC Peace News from Africa Did
 Not Help Banks ANXIETY OVER COAL STRIKE Tho JAnt Control of Monon By the Southern and L. & N. May Develop Ccmplleations-sonds on .hc
 Whole Were Quiet.
ANXIETY OVER COAL STRIKE

Sew York May H-The only feature of importance in today's market was buy ing of Canadian Pacific, whicE has been in evidence for several days past and which was halted by the president statement that the general prosperity or the company was all he knew Of to ac- count for it.
 The price reached a record figure today at sl. .SsH. This movement helped to Keep the general market steady today. 1here was a number of special movements In less important stocks, but the list as a whole was inert ard closed at small net changes either way. The hopeful views of the peace outlook lr South Africa did not altar this state of affairs, nor dld the bank statement There is a disposition to await definite results in South Africa, ana feeling that there might be hitch which would again delay the decision. The outcome of tho coal strike is also awaited. The report that the control CT Louisville and Nashville, and in conse- |. quence the Chicago, Indianapolis and Louisville absorption project, are in measure contingent and dependent on 
 disturbing in the possibility suggested of complications
 The weather map was construed as fa- vorable to crop prospects, although showers ill the northwest are not dried at this time. The bank statement shows an encouraging recuperation over reserves, but neither the increase in cash nor the reduction in loans was fully up to the expectations formed by the street The
  scarcely perceptible. The market closed steady.
 There has been a quiet speculation in stocks this week, as is natural to the season and the various factors of uncer- tainty in the situation. But with the ex- ception of period of positive weakness during the first two hours of the week s trading the undertone of the market has been firm and unevenly strong. Prices are quite materially higher for the week. This is in large part due to the easier condition of the money market, which has shown the results of attraction of funds from our domestic centers and from foreign money markets by the re- gently prevailing high rates for money. The rates for call loans haze settled down for the week to below 1 per cent, and contrary to the general expectation, the rate for foreign exchange has not re- sponded with any material advance. It was feared that the first show of ease in the local money market would lead to the withdrawal of funds placed here to take advantage of the more profitable in terest rate. The fact Is that the large demands made upon Paris and Berlin for New York account made an insignificant impression upon money rates at those centers and there Is still sufficient profit to keep foreign loans in tflis market. Londons money requirements are con- siderable, but there is so great plethora of capital in Paris and Berlin as to afford resources for Londons surplus require ments we'll Berlin is still going through it's long process of liquidation following upon the industrial depression there, and French capital is still indis- posed to venture into industrial ventures since Its costly experience with Russian projects. The result has been free lend Ing of funds in the New York market
 Business in bonds has not been large but prices are well sustained
 United States new As declined H. the old As 9s, the 2s 3s and the 3s and 5s A per cent below the closing of last week.
 New York Stock Market
 Bl Private Wire 10 Murphv A ~.