The Montgomery advertiser., 1902-05-20
WALL STREET REVIEW
oToCx MARKET WAS DULL AND
 PROFESSIONAL.
nagging Tendency Throughout Run ming to Acute Weakness at Times.
 ThesRecent Factors of Depres- s sion Continued in Force.


 NEW YORK. May Is.--rhere was a dull and y!Y1essiopsi stock market today with sag - te1dency, running to acute weakness at
 nm xnx ssorts ass ,s caused se some nm; 4e tone became heavy again and closed so
 0e recent factors of depression continued in 'c9 the anthracite miners strike, the situa- <1on n the local money market and the crop 5snine dssiins. and % she hard ana soft h coal sng
 <cc1s made some stand against depression. 2he sgrain carriers. on the other hand, were
 and made quite general declines of . 4uAnt CT more. The reports of heavy rains in tne Hcfthwest were considered unfavorable for 9prings wheat. but the weather in the south- gqfeed doing well. This weakness permeated xns list pretty generally. There was notable which seemed to gain force when announce IMent wes made of the several protests pre- nenfed at the stockholders meetings today eeainst the plan for conversion of stock and tasue Of bonds, This selling was alleged to 6e for Pittsburg account and was the sub 3ect Of much comment on the Stock Exchange, yheru it gave rise to considerable uneasiness. 4he relative firnness of the coal stockB was 1sdsretion was .'stiil making efforts to settle tne strike. The common opinion in Wall Street ss. 2 the duration of the strike continue continue: 1e8f weeks. persistent assertions that there would be no permanent strike at all. The reeuIt of the active measures taken last week - secure additional credits abroad and from other Dources than the banks. But the clear Understanding that the securing of these new scre6lts left the general credit situation a Sho3B unchanged. in spite of last weeks loan decrQaSe by the banks themselves. detracted 1rom the sentimental relief that would other yiso have been felt by the loan showing. IhQe was q significant stifening of the foreign exchnngea arnte also which indicates that high l1tel of interest rates in all that dverts cred IT toNsthe New York market. The securing 03 loans abroad is an evidence of the resources of the country's credits. but the domestic level of interest arftes which has to be paid offers n notable margin over the prevailing rate in foreign markets, and must represent some element of risk in the minds of the lenders. There were some violent relapses in prices of high priced usually inactive stocks and 1n- tefnational Power dropped back i8 points esains ons nominal sales. The market closed dull and heavy. t-
 Bonds were dull and heavy throughout To- taf sa1es (par vaiue). St 955. 900. United States bonds were unchanged on the last call.
 Money and Exchange.
 NEW WORKMAN ie.--Money on call easier Ut 2n6 per cei1f closed offered at 3.
 Prime mercantile. paper. 4ts95 per cent.
 Sterling exchange firm with actual business in bankers bills at 14s97A for demand and at .4. .e4E for 50 days; posted rates. 4.s5h
 ess cornn,srcisi lbilis,. 4 s4@4 e5.
 Bar silver, 5 l54: Mexican dollars. 4lA ! Treasury Statement
 wAsHINGToN.s May sIe. Treasury hal prees. sIss.o2i .4o2; goIds $s5. 5.s44.6es.