Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-21
Light Volume OF Business
Transacted Today.
MARKET TONE WAS HEAVY
Sharp Rise in Grain Chief Topic Dis.
cussed
LONDON GENERALLY STEADY
Total Dealings Were Made Up Large
ly by Small Number of Stocks
Earning Statements.
LONDON GENERALLY STEADY


Special Dispatch TO The Star.
NEW YORK, May 2i.-up TO the middle
of the afternoon the volume of business
transacted upon the stock exchange was
only about 60 per cent of that done dur
Ing the corresponding period on Friday, and
less than ca per cent of Thursdays total
for the same period. For minutes at a time
the ticker which records the sales of the
securities was absolutely idle.
The markets tone was generally speak
Ing a heavy one, although the dealings
were characterized by considerable irregu-
Iarity. 1t was difficult TO ascertain just
what were the controlling motives in the
trading and, indeed. there appeared to be
none beyond the anxiety OF the professional
element upon the floor to extract fractional
profits out of their occasional ventures.
Perhaps the chief theme of DISCUSSION
was the sharp rise in the grain market
where both wheat and corn made extensive
advances. The movement in grain was
again based upon the dscouraging advlces
received from the drought-Stricken sections
and these were in turn q depressing In
fiuence upon the stock market. There was
almost utter absence of news over Sum
day bearing upon the market at large or
particular stocks.
The London market was generally steady.
with American stocks quoted at general
advances above parity with New York S
closing figures of Saturday and foreign
houses were buyers here to the extent of
about 1000 shares.
The Money Market.
Money market and foreign exchange con-
dltions showed no material alterations.
There were fairly heavy transfers OF cur
rency 10 San Francisco through the sub
treasury presumably in advance of the re-
opening of the banks at that city for gen.
sral business on Wednesday.
The days small total transactions were
made up largely through the dealings IN a
tmaA number of stocks. Relatively active
katures were Pennsy vania, Reading, Union
Pacific. Missouri. Kansas and Texas and
St Paul i'll the railway list and the I'm ted
States Steel shares, Anaconda Mining,
Amalgamated Copper and American Smclt-
ing In the miscellaneous group
Distillers Securities was also largely dealt
In and showed exceptional strength on
Washington advices to the effect that the
sC-called free alcohol bill would be reported
to the Senate tomorrow, and that there were
fair chances for its passage. Aside from
that particular instance there was little real
news gossip bearing upon the trlnsac-
tlGns in individual securities.
"A few statements of earnings and divt-
.dend announcements comprised the routine
developments of this character. The bust
ness of commission houses was upon an
infinites. NAL scale, and even the attendance
OF the professional traders was largely re-
duced through the departure of many of
them to attend this afternoons sporting
event.
Those observers of market conditions who
have been advocating and expecting pro-
tracted period of dulluess after the violent
dealings and the tremendous fiuctuat .ons OF
the past thirty days. were not put to the
necessity of indicating their Judgment.