Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-27
BULLS AND BEARS

bULlS ANU btAh1
Special Dispatch to The STAR
NEW YORK. May 27.-The copper report
OF James Lewis & Son OF Liverpool under
date Of May 10. says that as the actual con-
sumption Of copper Ia Europe during the
past four months must have been fully
equal to that of the same period last year.
and imports were 16 900 tons less while the
public stocks have increased 4.600 tons, 1t
is evident that the invisible" stocks must
have been reduced in that period to the ex-
tent OF some 10000 tons. The demand from
China and Japan still continues. and since
January 1 22772 tons have been shipped
thence from the United States alone. be-
sides considerable quantity from Aus
tralia and England.
The textile manufacturers journal says:
''The sales of wool in the principal markets
of the country. exclusive of Boston, for the
week ending May q. as compared with last
week and the corresponding week last year,
have been as follows:
This week. Last week. Last year.
Pounds. Pounds. Pounds
Foreign -...." 1890 i.sss.Soo i,ios.soS
AVtais.-.'... Z,5ft,0oU S,1t5,6OO S,OOZ, 60O
The total sales reported since January
amounted to z7,372,576 pounds domestic,
1886. LOO pounds foreign. aggregating o.
1875 pounds. as compared with s.. AS, 100
pounds domestic, %. 15S,291 pounds foreign.
aggregating 90. SCI ,691 pounds during the
corresponding period last year. The ship
mentS of wool from Boston for the week
We're 4,O67,113 pounds, as compared with
4.4o3 $50 pounds last week. The shipments
since January 1 have been 11O0 695 615
in xxnfa f1ar raley f,nyI tfo
country shows that prices are at least very
close to the top of the present movement,
If indeed the crest Of the wave has not
passed"
Dun's Review says: Improvement is re-
ported in retail trade. Manufacturing
plants are busy. especially in heavy steel
lines Building operations make favorable
comparisons with recent years.
Il X y
Bradstreet's report says: Wholesale
trade is seasonably quiet. pending clearer
view of the crop out-turn. Manufacturing
previously booked. Collections reflect little
more than seasonable slowness. Despite eff
forts to accentuate less favorable happen
Ings Tor stock speculation purposes, there is
still abundant evidence that the country's
consumptfve requirements are on a large
scale, heavily exceeding year ago at this
time, and the movement can be materially
quickened by more seasonable weather, al
lowing belated retail buying to materialize
and ordinary crop development to occur.
x X
According to the Chronicle the total bank
clearings of all the clearing houses Of the
United States for the week ending today
were $2,776,731 .974 an increase Of 50,O21 o76
over last week and an increase of 81 co.,,
762.S 51 over the corresponding week last
year, or $40 per cent. As compared with
this week last year New York increased
76.S per cent; Baltimore, 1877 per cent; Phil
adeIDhia 81 y cent. (~hic9 C0 q
cent; Boston. 1853 per cent; New Orleans
16.1 per cent, and St. Louis, 1875 per cent
It is reported that the financial plans Of
the Kansas City Southern Railway Com
pany contemplate the refunding of the ex-
listing issue of $30,0o0OOO per cent first
mortgage bonds by an issue Of the same
amount Of per cent bonds 1t is said
that by the terms of exchange of new
bonds for the old company there will be
about $6,O00.000 of the new bonds left ap-
plicable for extensions and improvements.
y X
The foreign exchange market ruled uni
formly firm through the week until Thurs
day when rates began to shade off trifle,
and yesterday broke to such an extent as
to practically wipe out the entire gain
made in the early part of the week Last
week, Friday, demand sterling closed at
4.S7a4S7.05 and sixty-day bills at AS The
and rose sharply Tuesday to 4S7 .20a4.S 7A
for demand sterling and 4.S5A for sixty
day bills, which represented the highest
level reached. From that point the market
fell toward the close to 4.S7a4 81. 10 for de-
mand sterling. 4.S5a4.S510 for sixty-day
bills, which was the quotation at the end
of business yesterday. Francs and marks
exhibited good deal of firmness, but like
wise eased off in sympathy with sterling
yesterday. closing on about the same level
as at the end of last week. There were
few or no new features in the market.
Perhaps the most important one was found
in the offering of bankers finance bills on
a limited scale There seemd to be more
of a disposition the part of interna-
tional houses to draw long bills.
X = <
Concerning the foreign exchange move
ments c. Schumacher Co. say: The fact
that exchange continues to advance in the
face of very little inquiry for bills ct,l-
clusively shows that We are approaching
a period-of gold exports
The following interesting statement ap-
pears in the weekly market letter issued
by Atwood, Violet & Co.: I'VE are told
that there is an unlimited order on the
floor to take all the steel common that Is
offered at %, without regard to the
amount. We believe this stock can be
bought profitably every half point down..
Goulds Lost Heavily in Trust Failure.
Through the failure of the Merchants