The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-05-22
STOCKS WERE DULL
AND PROFESSIONAL
Spirit of Resistance to 0epres-
sion Still N anifested.
SMALL STOCKS MOVE UP
Tuesdays Hopes for a Settlement of
the Strike Were Somewhat
Dashed by the Coal OPP
orators Attitude.
SMALL STOCKS MOVE UP

New York. May 2L-The tone of resis-
lance to depression was still manifest IN
today's stock market, notwithstanding
Its dull and professional character. There
was not much assistance in the way or
strength derived from the coal stocks.
either, which were dull and sluggish all
day until just before the close, when
prices hardened there and elsewhere IN
the market. Yesterdays hopes that the
activity of the Civic Federation were
promising for settlement of the strike,
were somewhat dashed by the aggrleveo
tone taken by the coal operators towards
those activities. Wall street, however
maintains its conviction that the two
sides to the struggle are not very far
apart and both averse to long and
costly struggle. The consequence is
constant expectation of the announce
ment of a settlement. The conspicuous
strength of Canadian Pacific and its af-
fliated lines continued today and was a
notable influence on the whole market
The strength of the stock was unex-
planned beyond floor room gossip of the
imminence of a corner, and revival of
the reports of a strong transatlantic
steamship line In the interest of the line
to be subsidized by the Cas1dian gov
eminent. Another sustaining factor was
the wide advances in the usually mac
tive stocks and of minor railroad stocks
available for combination and absorption
The demand for those stocks was stimu-
lated by the plan for taking over the Chi
cago, indianapolis and Louisville in the
joint interest of the Southern Railroad
and the Louisville and Nashville and the
acquisition In the interest of the Wa
bash. The stocks Immediately concerned
in these deals were rather heavy, but
buying of a large number of other stocks
could be traced to their influence. A jump
of q points in Cleveland, Lorraine and
Wheeling and of points in the preferred
were examples. Some degree of strength
was given to the soft-coal carriers by the
suppostion that the continuance of the
anthracite strike would lead to an in
crease of their traffic. There was less
fear that the strike would spread to the
bituminous coal trade There was agrees
sive buying of Amalgamated Copper at
intervals during the day. A further adj
vance in the price of raw copper here
and strength in the London copper mar
ket were supplemented by reports of
great improvement in the trade. There
were also rumors of a compromise of the
conflict of interests in that trade. The
foreign exchange market continued to
show yielding tendency in spite of the
falling rate for money. This afforded re-
lief from the apprehension that a fall
In the money rate would lead to prompt
exports of gold. London's hopes of an
early peace in South Africa were an adj
ditional factor in the strength of the
market, which was quite marked at the
close of the day.
Bonds were dull but quite firm. Total
sales par value, $2,415000.
United States new As declined "; old
is and IS. u and the Is Is per cent on the
asst call.
nc" YORK Stock Market.
~ 'iNatr Nir~ 10 Murphy q en-