The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-04-28
INDIFFERENCE OF PUBLIC
TO STOCKS Is CONTINUED.
PROFESSIONALS TRADE ONLY
WITT ONE ANOTHER.
Metropolitan Marked Up for a
Time. but the Advance Is Lost
Exchange Is Strong.

New York. April T.-The Somnolent con-
dition OF to-day's stock market was sig
nificsnt Of the continued indifference OF the
general speculative and investment public.
Even the professional traders found dis
enlargement in their efforts TO move prices
by trading with one another. and TIE gem
eral tone of the market. Ia consequence
was the dullest thus far this year. Special
movements in a few individual stocks were
all that offered any feature. A report by
expert Accountants on behalf Of the Metro
poitan Street Hallway, intended to refute
the charges OF irregular accounting against
that company. which are the subject OF
present inquiry by the authorities. was
stock "a. a hostile purpose toward the bear
party in the stock was apparent, and the
of the day. \ rather lanEuid attempt was
made to induce a general rise in the mar
ket. in company with the metropolitan
Street Halfway movement. and Missouri Pa
cific and Baltimore and Ohio seemed TO be
chosen as leaders. but this movement did
not reach far.
AMALGAMATED WEAK.
The weakness Of Amalgamated Copper.
adverse influence. Then. too. there devel-
oped a remarkably strong tone in foreign
exchange, which narrowed the gap between
the gold-eNport point materially. Discounts
and money hardened in London. and the
advance in British consols was checked.
This had a somewhat chilling effect on the
SO N@N A@-AaN -
England discount rate this week. and would
marx the easing tone Of money all over
the world. Money rates here continued to
decline. ana there were increasing offerings
Tor periods extending beyond SIX months.
Tor which no concession from the 5-per-cent
rate IS yet reported.
The increasing supply Of money does not
snow any inclination to take up securities
The tone of the bond market is relatively
better than that for stocks. but the actual
business in that department is still pro-
foundiy dull. The approach Of the May l
period. with the skies in the labor world
cor parativeiy serene. is accepted as a IA
voi*b!e factor. but is not a positive factor
IN the market.
INROADS ON EARNINGS.
There is a feeling In stock market circles
hat the quiet in the labor world has been
secured at the expense Of concessions.
which are constantly raising the operating
cost and making inroads upon net earn
ings h increase in gross earnings for
March OF Atchison was wiped out and a de-
crease in net Of Ii9.s17. established b. The
large. growth in operating expenses. The
weekly statistics OF railroad traf1c showed
a considerable falling on In the movement,
especially IN the grain movement eastward.
and large OUTLAWS are reported In prospect
Tor improvements and for belated repairs Of
overworked equipment The fairly general
movement which has developed among the
Clearinghouse privileges rather than con-
form with that institutions reserve equip
ment has induced an unsettled feeling and
a good deal Of puzzled cOnjectures as to the
effect on the money situation. and there IL
a disposition TO await the final adjustment
Of the controversy.
The bond market was extremely dull and
Irregular. Total sales. par value. H.e5.ap.
United States new - advanced = per cent
on the last call.