The Birmingham age-herald., 1902-06-03
SOME DEMAND FOR GRAIN HAULERS No Interest Awakened by the
 Cheerful News EN6lkNDSTILL There Was Undcubted Realizing on a Large Scale by Spectators Who
 Have Been Expecting Peace
 Long Time.
ENGLANDSTILL IFS

New York, June a.--None of the ncH developments s.sce tae stock exchange closed on Thursday attorncon availed to incuce any activity i'll the trading Neither the declaration of peace in south Af:!cS CT tke acute stage reached In the anthracite strike awakened any interest in the stock market either on the buying side. ThA-e was some early demand tor grain carrying railroads, owing 10 the large advance in the net earnings report cd fer April over those of last year. The very light movement of grains, especially O. corn, owing to last years crop failure and the promising outlook for full. crop this year. gave added force to this show irE. Union Pacific, Burlington, Canadian Pacific among the grain carriers, and Reading. Lehigh and Norfolk and Vest ern among the eastern lines. show ir- creases in April net earnings of from 3loo.Ooo to nesr sSoo.0oo. The languid re- eponse to the peace news was fin accord with the tone c: the London market it. self This was partly attributed there to the taking up of attention with the re- joicing over the peace. But there was un- doubted,y realizing on large scale as well as on tne part of spectators who have bought for several days past in an anticipation of peace. This purely specu- lative profit taking. however does not alter the evident importance to the whole financial world of the ending of the war, the stoppage os expenditure, productive from the economic standpoint, and the promise of early renewal of abundant supply of money from the South African gold mines. The reports from, the anthra- cite region received in Wall Street were reassuring as to the success of the com panies in keeping their pumping machin- cry active and thus preventing damage to the mines by flooding. in spite of the response to the strike orders on the part of the engineers of the pump engines.
 It would be a violent assumption to read any significance in todays stock operations as a reflection of general finan- cial sentiment. There were few counts left open among the traders after the triple holiday, and the light new commit ments were almost among this class and were largely closed out again before the end of the day. as shown by the general return of the price level to that made at the opening The conviction is general that the money market must be kept free from extraordinary strains until the out
  tions in the fall. The heavy borrowings abroad which must be met and the proba- bility of an active trade demand for money for shipment into the interior of the country incite to caution until the att titude of the foreign borrowers at the period of renewals becomes evident In contrast to the feeling in New York that demands may be made upon us by for eign credits is the feeling in London cir ces that New York may make Further heavy demands abroad for the relief of her money market.
 The London Statist points out that for several years past America has accepted payments i'll securities for it's produce and manufactures. but with money less plentiful in New York it may this year elect to take payment in cash.
 The Statist says the possibility Is that America may renew the loan obtained on that side in addition to tailing gold in payment for exports. The whole problem. of course. turns largely on the size of the coming corn crop.
 Bonds were dull and irregular. Total sales, par value, $5,1o5,00o.
 United States old 4s declined h and the new 4s A per cent on the last call
 New York Stock Market
 By Private Wire to Murphy A ca