The Birmingham age-herald., 1902-05-27
MORE ACTIVITY
 IN STOCK MARKET No Bad News to Account for
 the Selling TIRED OF PASSIVE MOOD Only immediate News of Depressing Character Was the Spread of the Mlners' strike Into the
 sltumlnous FleIds.
TIRED OF PASSIVE MOOD

Now York. May 26-.There was rather moro activity in the market today than during the latter part of last week, but II wasp at the expense of values or standard stocks There were some specialties which made striking advances, which would have served as sustaining hn- fuenco under ordinary circumstances. Neither was there any bad news to ao- count for the selling. Tie days lnIneoi- ate devlopments were rather faYoraple' but the failure of the favorable develop ment and of the persistent tardness Of the market to attract any speculative demand for stocks, served to discourage some considerable holders who have tireo of the passivity of the market with the result that they unloaded considerable lines today. There seemed to be large speculative line of St. Paul, Union Pa clfc and a less amount of various other stocks which were urgently pressed for sale. The only immediate news of de- pressing character was the spread of the coal-mining labor trouble into some DOT tons of the soft coal folds in Virginia and West Virginia. The coalers them selves, however, were little affected. The rate for call money simmered down to . quiet points basis without any notable demand in the foreign exchange mar ket for reason of borrowed money abroad.
 But despite the relief accorded by the large sums borrowed there Is some solici- tude apparent in financial circles over the future meeting of the large obligations which have been incurred. Bankers are inclined to nurse their reserve to some extent in order to strengthen their posi- ton against the future needs. It is be- lieved that the trust companies are also disposed to build up their reserves in compliance with the intimation from the clearing house authorities that the total vote of outstanding credits ought to have greater reserves back of them than those included in the banks reserve alone. The retention of the exchange rate at the low level. despite the easing of the money market Is the more remarkable in view of the considerable buying of British consols for American account. The ar engagements for the holding of certificates which are negotiable in this country has resulted. according to official of the bank which made the arrangement, in the purchase of some $10000,0OO worth of con sols for account of various banks in this 
 In South Africa was an inspiring infiu- ence in foreign stock markets, but seemed to be disregarded here Canadian Pacific continued Its remarkable advance, which gave rise to rumors of something like a struggle for control between the present dominant interest and the Northern Se- curities group. There were a few minor points of strength among the railroads. Rutland preferred scored a 9-point recov- cry on light transactions. Among the in dustrials, which were as irregular, the railroad pressed steel car was conspic uous for a rise of nearly points without explanation. Favorable reports continue from the crop belts, and increased rail- road earnings are beneficial at this time. The market closed qsite active and ir- regular, but with many prominent stocks at about the lowest.
 The bond market was rather dull and irregular, Total sales, par value. $2, 450 GOO. United States bonds were unchanged on the last call
 New York Stock Market
 By Private Wire to Murphy & Ca