The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-05-29
ROOM TRADING
ONLY IN STOCKS
Profits and Losses confined
Strictly to Room.
OUTSIDE ORDERS WERE FEW
Decline of Tuesday Found Traders
Generally Committed In Small
Way to the Short Side.
Bonds Were Dull.
OUTSIDE ORDERS WERE FEW

New York, May 2S.-Today's stock mar
ket offers small subject for comment. 1t
was strictly an affair of room trading of
a class which is known in stock exchange
parlance as trading Jack knives" The
profits made and the losses sustained
were confined to the limits of the board
room. Outside orders were Insignificant.
The news of the day. which was slight
was only n nominal influence and the
real incentive to the dealings was the
impression of the traders as to the vol
ume of contracts existing with them or
on the other side. The decline of the pre-
ceding days found the traders generally
committed in a short way to the short
side and they attempted to cover their
short contracts before the rival traders
could do so. The fact that Tho rise Of
something over a point in Reading was
accompanied by rumors that develop
ments were impending encouraging a
hope of the settlem ent of the coal strike
was of very little weight, and many
Wall street officers had dispatches from
the mining region reporting the prospects
unchanged without affecting the small
gaming that was IN progress The buy
Ing of St. Paul was just as little accept
ed as indicating any important develop
nlent In tho progress of the crops, al
though the weather map was favorable
and the sharp reaction in the grain mar
kets offered some confederation. The
present speculative temper regarding the
corn crop 10 that last seasons great
shortage and the high price prevailing
is bound to insure all possible measures
to secure plentiful yield this season.
Until definite Information is known,
therefore, of damage to the coming corn
crop large crop will be taken for grant
I'd. There was some demand for the soft
noal carriers the ground that the
shortage of anthracite enhances the de-
mand fo,' soft coal as a substitute. but
there Is the most doubtful element also of
the possibility of success of efforts maxi
Ing to get the bituminous coal miners to
Join the anthracite strikers. The 31a point
rise in Hooking Valley had as additional
grounds the report of a proposed increase
In the dividend rate Pressed Steel Car
moved upwards again today, but did not
hold the gain and the tendency to sympa-
thy of stocks in other railroad equipment
companies found its most effectual effect
in Railway Steel Spring which moved
up over a point. The speculative realiz-
tllB Ill CdTduldn racine mas continued To-
day and removed the stimulating effect
of the recent rise in that stock from the
market The feeling of disappointment
over the lack of definite peace announce
ment by the British cabinet had some
slight reflection at the opening here. A
sharp break in the London market for
raw copper helped to keep back Amalga-
mated Copper. The approach of a half
week holiday emphasized the disposition
A
of the advances were lost on room profit
taking and the market closed lifeless and
heavy.
The market for bonds was dull and
steady Total sales, par value, $1,9100 900.
United States bonds were all unchanged
on the last call.
View York Stock Market.
BY Private Wire TO Murphy q Cm