The daily morning journal and courier., 1902-05-27
THE STOCK MARKET.
Increased Activity Over Last Week.


 New York, May 26.--There was more
 activity in the market to-day than dur
 ing the latter part of last week, but il
 was at the expense of values of stand
 ard stocks. Some of the specialties
 made striking advances, which would have served as a sustaining influence under ordinary circumstances. There was no bad news to account for the selling. On the contrary, the days inn mediate developments were rather fa- vorable. But the difficulty of attract ing any general speculative demand for stocks apparently so discouraged some large holders that they unloaded con- siderable lines to-day. A large specula- tive line of St. Paul and Union Pacific and less amounts of various other stocks were urgently pressed for sale. The only immediate news of depress- | ing character was the spread of the coal mining labor trouble into some po"- | tions of the soft coal field in Virginia and West Virginia. The coal stocks, however, were little affected.
 | The rate for call money settled down to quiet 3 per cent, basis without in- ducing any notable demand in the for eign exchange market for rlturn of bor- | rowed money abroad, In spite of the relief afforded by the large sums hor- rowed on the European continent and from our own domestic centers, bank CTS are inclined to nurse their reserve to some extent in order to strengthen their position against the future need It is believed that the trust companies are also disposed to build up their re- serves in compliance with the intima- ton from the clearing house authorities that the total volume of outstanding credits ought to have greater reserves back of tbem than those included in the banks reserve alone.
 The retention of the exchange rate at the low level, In spite of the easing of the money market, is the more remark able in view of the considerable buying of British consols for American ac count. The arrangement for the hold ing of certificates which are negotiable in this country has resulted, according to an official of the bank which made the arrangement in the purchase of some s10,0000 900 worth of consols for the account of various banks in this country.
 The apparent approach of peace in South Africa was an inspiring influence in foreign stock markets. but seemed to be disregarded here. Canadian Pa ciic continued it's remarkable advance, which gave rise to rumors of something like struggle for control between the present dominant interest and the Northern Securities group. There were a few minor points of strength among the railroads. Rutland preferred scored 9-point recovery on light transactions Among the industrials, which were as irregular as the railroads, Pressed Steel Car was conspicuous for rise of near ly points without explanation. Fa- vorable news from the crops, continued increases in railroad earnings reported for the third week of May and gener- ally encouraging news from all branch es of industry except the coal trade seemed to be ignored in the trading. The market closed quite active and IT, regular but with many prominent stocks at about the lowest
 The bond market was rather dull and irregular The total sales, bar value, were s2,S45000
 United States bonds were unchanged on the last call.