The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-05-24
STOCK STRIKES
A DULL STREAK
Almost Reaches the Point OF
Stagnation
ACTIVE DEMAND FOR LEAD
Bankers Are Generally Agreed That
There Has Been Further Con-
traction of Loans and Re-
duction of Deposits.
ACTIVE DEMAND FOR LEAD

New York, May 23.-Today's stock mar
The higher prices in London induced an
Improvement at the opening here but 1t
was lost through mere inaction. Until
Ehe last hour there was hardly enough
motive power to show any direction in the
movement with the exception Of some
special stocks. There was quite an ac-
live demand for the National Lead
stocks, due to the expectation that the
company would benefit from a proposed
combination in allied branches OF the
trade The American Linseed stocks rose
pn rumors of a combination of the vege-
liable oil interests. The f1rmness OF Ana
FONDA, Amalgamated and smelling was
due to the continued reports of the WIDEN
ing demand for raw copper both here and
abroad.
The Improvement in the copper trade Is
In influence extending far beyond the
stocks Immediately affected. The allega-
lion is made that the recent heavy ex-
ports of copper are going abroad In part
At least as stocks are to get the benefit
bf the cheaper money rates over there
For holding purposes. There was re-
hewal of the recent strength in Canadian
Pacific, but when the advance reached
~, it halted. Pacific Mails 2R point adj
vance was unexplained. The George A.
Fuller stocks made wide advances and
the New York public and Colorado Fuel
etocks developed late strength, the latter
Using 2A. The appearance of the pre-
hminary figures of the weeks movement
pf currency awakened more animation
lhan at any time during the day. Out
bde of those stocks already mentioned,
the effect was not notable except in st.
Paul, Union Pacific and Atchison.
The currency figures indicate a net
gain by the banks on the interior move
Enent of nearly $5,0OO,O00 which is supple
mented by a gain of sub-treasury OPP
erations of S565, 900. Bankers are generally
Rgreed that there has been a further
heavy. contraction of loans and reduction
pr deposit liabilities. 1t will be seen that
The promise is for an extremely favorable
bank statement.
The response in the stock market is
very moderate Possibly this was due to
the fact that the interior movement of
currency has been checked. New York
exchange at Chicago fell back today to
near par, compared with sixty cents pre-
mum early in the week. There was
transferred today through the sub-treas-
hry 100000 to New Orleans following
the like amount transferred yesterday
There was call today for twenty-five
per cent installment for subscriptions to
the steamship merger syndicate which
ealls for $12,500,00O of which about 60
per cent is payable in New York. The
transaction did not cause a ripple today
I'm the local money market. The determ-
lned waiting attitude of the market seem
to be due to the uncertainties of the coal
Strike and to the approach of the critical
period of the corn crop. The latter is re-
ceiVlng more and more attention every
nay and is destined to have a greater in
huence on speculation than any other one
factor.
Bonds were dull but firm Total sales
par value $2,290,000 United States bonds
were all unchanged on the last call.
New York Stock Market.
by f'tivate Wire TO Mummy a. ca