The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-05-31
Liquidation Of Recent Date
Improves Conditions.
THE LABOR SITUATION
Some Controversies Have Been Settled
but the General outlook Is still
Menacing Good Railway Earn
ings Reported for May.

NEW YORK, May 3o.-The Financial
Age says:
The recent liquidation in the stock mar
ket has resulted in at last bringing prices
TO level where conservative Interests
have been tempted to invest, as was evi,
dcnced by the absorption which followed
the decline of Monday. London also Is
showing a kecfer interest IN our sccurl-
ties. These are promising signs. not only
because they signify the entrance trance, o.
the fact that the weaker and more dan
gerous elements are being eliminated
With the. advent of June money again gal.
comes to the front as the most import.
ant factor in the situation, and although
there ls nothing In the present serene
outward appearance OF the money mar
In this quarter, 1t is probable that before
the end of the month the rates for both
call and time funds Will more accurately
represent the actual condition of the
money market.
The numerous Withdrawals Of trust
companies from the Clearing House have
mlnlmized the effect Of the reserve rules
which take effect to-day. and there VIII
be no immediate tying up OF the funds
of these institutions such as was anticl-
pated.
The labor situation is somewhat i'm
proved. The troubles Of the. building
trades In New York are likely to be. sat
isfactorly ended within a comparatively
short time. Chicago also sends encour-
aging reports regarding the local out
look. which has been ther worse there
than elsewhere. The freight handlers
are willing to compromise, the presidents
think the. matter should be arbitrated,
and complications In other directions are
not expected IL the matter must be fought
Ing 10000 men. While there Is much en-.
couragemcnt In these reports, the labor
problem Is not to be adjusted merely
The "a NJ fhIa NJ ho
ton consists In tho estranged Relationship
between employers and employees rather
than In the present difficulties. and until
tablished labor disturbances will continue
to harass the busihess community.
RAILWAY WORLD.
The most Important developm ent In the
railroad world last week was the nm.
nouncement hiatt the Government of Mex
leo, after prolonged negotiations. had ell
houses OF spese rsei Co. by which a'" tie
Mexican government Will purchase from
these banking houses n very large amount
of the National Railroad OF Mexico
II appears from the circular that the
railroad By this deal will BIO practically
safeguarded against the building OF any
States into Mexico In the territory ira
versed by 1t.
There was the usual catalogue OF good
railway earnings. For the third week Of
May thirty-f four roads reported an increase
Of gross of sl.O40.54s, against decrease
by five roads OF ;i7,ssl. Tho feature Of
week. Is an Increase In several cases
against a decrease compared with pre-
yIous longer periods. when expenses were
more than absorbing the increase OF In
come from growing business
The unfortunate controversy between
the Pennsylyania Railroad and the West
a t much unfasorable CONNER, in IMAM
cIal circles. where n destructive conflict