The Birmingham age-herald., 1904-05-07
ND SIGNS OF ACTUAL LIFE IN THE MARKET Drift of Prices Was Very
 Feeble METROPOLITAN STILL WEAK Inconsistency of the Market Is Shown By the Sympathetic Decline
 In Other Traction
 Stocks.
METROPOLITAN STILL WEAK

New York, May 6.-There was no sign of actual life in the stock market today, and the feeble drift of prices never got far from last nights level, or for that mat ter, from last weeks level. There was some heaviness early, but the level came up later in the day. This Is in accord ance with the intermittent symptoms of the present market. Yesterday the exces- sive dullness was explained as being due to the departure of many brokers to a popular racing event, but today's dealings were no larger, with no special explana- ton to offer.
 The early heaviness was in sympathy with the sharp decline In Metropolitan Street Railway. The weakness of this stock has been a disturbing element for some time. but today's selling seemed to be in the state railroad statistics pub lished yesterday showing the passenger traffic of the Metropolitan practically sta tionary for .he last year. The deduction was drawn that the system had reached the practical limit of its carrying capac- ity.
 The inconsistency Of the market was shown by the sympathetic decline in other traction stocks, although the same statis- tics showed large increase in their traffic. Later in the day when an up- ward movement in the other fractions were undertaken to give market reflection to the showing, Metropolitan Street Rail- way recovered in sympathy. The heavy gold outgo caused some attention to be given the bank statement prospects.
 of .traa show losses by the banks on that account including the gold movement of 8, ,ooo while the receipts on balance of cur rency in the interior would cut this down materially. But the sub-treasury figures do not include todays large engagements of gold.
 The bank statement is also expected to carry over the effect of last weeks gold shipments under the operation of the average system A large loan expansion Is taken forgranted
 There was an appreciable firmer tone to call money today. A considerable im- pairnent of the surplus would not be Surprise in tomorrows bank statement The statement of Secretary Shaw regard Ing the Panama canal payment was ac- cepted to mean that $25, ,000,000 remained to be provided which tomorrows gold shipment of A500,0O0 would go, of course. to reduce. The weather map was consid- iered to show too much rain for wheat and that market acted accordingly. The stock market seemed not affected, ex- Acept in the exeessive dullness. Reports .Af railroad earnings were not stimulat- t ito the demakd for stocks and those for the Hartman group were considered a moderate basis for the hopeful views expressed by the head of the system Outside a few of the stocks in the class known as specialties there was no move ment worth notice and the days trivial changes were mostly gains.
 United States steel seconds 5s were heavy on the supposition that the dis solution of the stock conversion syndi- cate will bring offerings on the market Total sals of bonds, par value, $2,065, ,000 United States bonds were unchanged on call.