The Birmingham age-herald., 1903-05-06
DAYS TRADING
 RATHER FAVORABLE. Some Took Profits But Again Turned Prices Downward SMALL GOLD MOVEMENT There Was Practically Nothing Left of the Days Rise at the Close, Which
 Was Heavy and Showed
 Small Losses,
SMALL GOLD MOVEMENT

New York, May 5.-The days develop ments bearing on values of securities were rather favorable than otherwise, but this did not enable the professional traders in stocks, who were the buyers of yester-, day. to partly realize their profits with out turning prices downward once more. There was a fair degree of activity in the market up to noon. In that time some 800,000 shares of stick were dealt in, which is rather more than the total days deal- ings of the dull business of last Friday. During the latter part of the day the trading fell into semi-stagnation again. Some part of the early activity was un- doubtedly due to manipulation to facili- tate the taking of profits. Delaware and Hudson continued yesterdays advance to the extent of 11z and St. Paul, Northwest ern, Canadian Pacific and Louisville were lifted at one time 1 to 1A over last night. There was a continued large trading In National Railroad of Mexico, and in Read ing, the last named rising at one time % over last night; Pennsylvania was lifted as much. This stock sold ex-dividend of per cent and there was an element amongst traders who bought 1t and Atchi- son yesterday on the supposition that the taking of the semi-annual dividends from the price would make them look cheap and attract buying. But the buying thus attracted was not sufficient to offset the selling to realize by yesterdays buyers. A recovery in the price of copper gave firmness to Ama1gamated. Some of the obscure industrial stocks were pushed up sharply in an effort to sustain the mar ket after the realizing sales began to have effect but this maneuver proved un- availing and there was practically noth- ing left of the days rise at the close, which was heavy ard showed small frac- tional net losses generally
 The weekly crop bulletin issued by the weather bureau was calculated to qnet the fears of crop damage which were pre- valent last week The recent rise in ster- ling exchange came to halt today, al- though the late market was firm and dis counts in London were also easier. At the same time there was sharp advance in sterling exchange at Paris, which was sufficient to wipe out the profit on the so-called triangular gold export operation. It is not expected, therefore, that gold will go out to Europe this week, although a small shipment to South America is in- dicated The strength of sterling at Paris is believed to be due to remittanees to participate in the Transvaal loan. These TWO IdNOraDie influences ulu not Suluce 10 hold the stock market A number of favorable reports of railroad gross earn ings for the month and the fourth week of April were equally without effect. New York Central, Missouri Pacific, Louisville and Nashville, Southern Railway. Chicago Great Western, Norfolk and Western and Chesapeake and Ohio all made handsome increases in gross earnings and the net earnings of the Norfolk and Western for March showed an increase over those of last year of some 24 per cent.
 The bond market was quite broad but dealings were unevenly distributed and price movements irregular. Total sales par value, s2,o20,O0O United States bonds were all unchanged on the last call.