Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-05-23
Another Dull Day on Stock
J, Exchange.
LONDON BOUGHT FREELY
PRICES, HOWEVER. KEPT UP DE
SPITE LOCAL DULLNESs.
Better Demand for the Traction Share,
Than for Several Weeks
Past.


Special Dispatch 10 The Evening Star
NEW YORK, May 23.-Today's stock
market was as embarrassing as its imme-
date predecessors and presented practi-
cally no indication of increasing breadth
London sent over higher range OF prices
and was a moderate buyer on this side
but local business was restricted to trad
ers ana the pools. Crop news WAS encour-
aging. but the season is one Of hopefuiness
and not Of assurance. The roads interest
ed in the corn crop were well bought and
responded easily to the demand
There was a fair demand for Atchison.
based on official crop reports and the fact
that there was known to be an uncovered
short account put out on the government
crop report earlier in the month What
appeared to be a semi-investment demand
for Union Pacific convertible I per cent
bonds attracted attention during the day
and helped to advance the price of the
stock
Some round amounts of the latter changed
hands at fraction oxer 1u5 and some
very confident predictions of future activity
were heard around the room Southern
Pacific WAS steady under pool slIpporf and
gained a fraction in sympathy with the ris.
IN L MON Pacific An effort to market a
small amount of Northwestern resulted IN
a sharp recession, all of which was re-
gained promptly. The movement had no
significance beyond showing how thorough
ly prices are controlled by a few cliques
Inactive and high-priced stocks are espe-
cially liable 10 sharp fluctuations In such
market as is now prevailing.
The ceal shares were given good support
but there was less effort Ia advance them.
Nothing of interest bearing on the strike
was disclosed. but the calm fails 10 reas-
sure the street. The crisis has not been
reached, and this is practically the only
definite knowledge on the subject
The traction shares Were stronger than at
any time during the week, advancing easily
under a demand which became aggressive
during the last hour.
The industrial list was decidedly trrer1l-
lar, but the widest fluctuations were IN the
direction of Improvement. The recently
listed George A. Fuller Companys stock
was marked up sharply as the result OF
movement IN which manipulation was not
wholly concealed.
The new contracts awarded the company
were made the basis for the rise National
Lead was advanced under a demand en-
couraged by rumors of possible consolida-
ton of this company with other lead and
zinc companies. The selling Of the stock
at high prices was said 10 be good. Ameri-
can Linseed OF advanced in sympathy with
the advance in National Lead.
Money was easy and in good supply all
day. The known movements OF money in
dictate that the banks have gained S. $50 oo
In cash during the week. The banks at
least the larger downtown institutions
have reduced their loans. and all indica-
tions favor good bank statement In con-
sequence. Encouraged by this prospect
the western operators were free buyers of
their speclalties during the late trading
The market closed steady. under extremely
narrow dealings.