The times. [volume] (Richmond, Va.) 1890-1903, 1902-05-24
MARKET DULL TO
STAGKAT|0N POINT
H.rdly Motive Power Enough to
Indicate Direction.
THE CURRENCY is FAVORABLE
This Induced More Animation Than
Had Eeen Evident. but Response
Only Moderate-Bon Market
Dull. bu. Firm.
tBy Associated Press.

NEW YORK. May 2s.-1o- days stock
market was dull to the point OF slasilaa
ton. The higher prices m Londoil thouSs,.
AN Improvement at the opening mere, put
il was lost through mere inattehtoi ~ IN,
Ill the last hour there was naFaiy eiiouS = y
motive power to show any diect1oiis ~ l Ing :
movement. with the exception OF some
speciai stocks. There was quite an aciNs
demand for the National Lead STOCKS. uue
10 the expectation that the so.ii tp;,,s
would benefit from a proposea com una ma
ton In an allied branch of the trace. l ne
American Linseed stocks rose on ru i1
OF a. combination OF the Eegetapie Oh n
Gustrfals The firInneSS OF AfnalSaIlateu.
Anaconda and Smelling was Que 10 the
lcoatinued report of the widening demand
for raw copper both here ana sproad Inc
tmprovernent in the copper trade is an IN
lt;uence extending far beyond the stocks
Immediately affected. The allegation is
made that the recent heavy exports OF
copper are going abroad, in part at least.
as stocks are. TO get the benefit of the
cheaper money rates over there for hold
ling purchases. There was a renewal of
the recent strength in Canadian Pacific.
but when the advance reached la 1t
halted. Pacific Mails 2lA point rise was
unexplained. The George A. Fuller stocks
made wide advances. and thu New York
Public Utilities and c. f. l. developed late
strength. the latter rising 2k The APP
,pearance of the preliminary figures of the
weeks movement Of currency awakened
more animation than at any time during
the day. Outside OF those stocks already
mentioned the effect was not notable,
except in st. Paul Union Pacific and
Atchison. The currency figures indicate
a net gain by the banks on the interior
movement OF nearly s5,0oa,epo. which is
supplemented by ga.n on sub-Treasury
operation of $50 900. Bankers are gen
orally agreed that there has been further
heavy contraction OF loans and reduc-
iion of deposit liabilities. 1t will be seen
that the promise is for an extremely fav-
orable bank statement. The response in
the stock market was very moderate.
There was transferred to-day through the
suh-Treasury 500, 900 TO New Orleans, fol-
lowing The like amount transferred yes
terday. There was call to-day for 4
25 per cent. irstallr1ent OF cash on sub
scrptions to the steamship merger sy-nGi-
cate. which calls for Sl250o,Oeo. of which
about go per cent. is prepayabie in New
York. The transa ction did not cause a
ripple to-day in the local money market
The determined waiting attitude of the
market seems to be due TO the uncertain
ties of the coal strike and to the APP
rroach of the critical period of the corn
crop. The latter is receiving more and
more attention every day. and is defined
10 have greater influence on speculation
than any other one factor.
The bond market was dull but firm
Total sales. par value. s2.29a,oo0 United
States bonds We're all unchanged on the
last call
Total sales of stocks to-day were s53. 100
Shares.
MONEY AND ENcHANGE-Money on call
closed steady at %. a2 per cent. closing bid and
Gsked. 2s as per cert: prime mercantile paper
fiSG5 per cent Sterling exchange heavy with
scfnal business in bankers bills at Sa.s7 for DO
maud and at s4s4ss for sixty days: posted
tS.&. Bar silver, 81 Is; Mexican dollars. 41a,
Government bonds. easy; State bonds, inactive;
sa...toao Bonds, firm
STOCK Quotations
n:n.,fteh by Metsrs: SCOTT &sTRINdFELoW
Nen'ten New York stock Exchange