The Washington times., 1902-05-25
Crop Prospects Continue to
Show Signs of Improve
ment.
COPPER POINTS AN ADVANCE
Brooklyn Rapid Transit, Exceptionally
Strong, Closes at High Price-Deal-
ings in Bonds on Moderate Scale
Tone Remains Strong.

NEW YORK, May 24.-With the eN-
ception of the anthracite coal strike the
conditions bearing upon the value OF
securities are unusually satisfactory.
Crop prospects are steadily improving
and present indications are that the
damage TO winter wheat will be more
than made up by the yield of spring
wheat and ot corn.
In the monetary situation the most
important development has been the
prospects of an early declaration of
peace in South Africa. Present indica-
tions are that unless speculation should
become abnormally active the market
for loanahle funds at this center will
remain normal until demands are made
for funds to move the crops.
Without doubt one reason whv the
strike of the anthracite coal miners has
not affected the market for securities
unfavorably is the confidence that in
vestors have in the outcome of the ap-
perently uncalled-for struggle between
the miners and the anthracite producing
and carrying companies.
Market Quiet.
Although the stock market has been
comparatively quiet this week. the tend
ency of prices has been toward higher
level. Canadian Pacific has been the
mcst conspicuous feature. at a net gain
OF l0s4 points. nearly third of which
was made today
In the industrial list the heaviest
trading and the most significant advance
has been in Amalgamated Copper The I
American Cotton OH and Virginia Caro- /
| lima Chemical stocks have been quiet.
owing doubtless 10 the differences that
have been encountered in the negotia- |
tions for bringing the two companies /
as well as other corporations engaged |
in handling Gotten products into closer
ard more permanent relations than at
present.
Increase in Money.
The weekly statement OF averages Of /
the associated banks. though showing a
large increase in lawful money. does not
reflect the full amount of the addi-
tions made this week to the cash re-
sources of The banks.
An equally favorable feature Of the
statement is the decrease OF over s.. .5cO.-
600 in the loans. The decrease in depos-
fits is considerably larger than is called
for by the changes in the two funda-
mental items affecting the statement
The net result is a substantial add-
tion 10 surplus reserve. bringing that
item 10 Sl4300.000
This mornings market indicated
transactions for a full day of about
100000 shares. The noteworthy dealings
were in Canadian Pacific. at a net gain
OF 3ss per cent.
Brooklyn Transit Busy.
The only other stock IN which trans
actions exceeded 10000 shares was
Brooklyn Rapid Transit which was ex- .
ceptionaily strong. and closed at the
highest price recorded for it since the
recent reaction in values took place
Other exceptionally strong features
were American Car and Foundry pre-
ferred, American Linseed American
Smelling, Colorado Fuel. Illinois Cen
tral. p G. c. and ST L., and Fuller Con
ltruction.
The dealings in bonds were on very I
moderate scale, but the tone of the
market wss strong. On the curb there
were unusually heavy transactions in
San Francisco railway subscriptions. at y
an advance 10 103I.. and in the preferred ,
st an advance TO l62ia. ,
The closing OF the market. influenced
by the favorable bank statement, was
strong at about the best prices. ,