Show THE VEEK ON CHANGE + Fluctuation Stocks With No Sensational Sen-sational Incidents THE BIG RISE IN SILVER RACHD TH IGHST POINT I TWO YEARS ric Traded In Represent 354000 Ounces of the White Met aIItere I CopperDecreae In Bank CearngsLage Operation Opera-tion I ondThe Wheat Market + New York April 19The market was ICIXY practically alt day and wl1He a number or material recessions appeared the general railway list suffered but fractionally Stocks affected by the bill taxing corporation franchise In this stale suffered the most Metropoltan lost over 5 POints Brooklyn Traolt and Consol dated Uas nearly 4 Manhattan a Il0int but Third Avenue was au 1 exception rls lug 2 Points oil small dealngs on expecto lon that that company would bid for the Underground frcrml Jhe tradcls were early selers In eXIIC 1ton or a bad bank statement but they covered when 1 uppnred showIng small changes the reserve Increasing about half a million The absence of commission business and weakness of local stocks caused thc market to ease off ngaln cls lug weak London was a purchaer of a moderate amount or stock Among the strong spots w r Canadian Paciic and Colorado Fuel which adanced 4h and 3 respectively Prctcalb zi he Inuustrlal stocks were weak Stocks gravitated to a lower level this week with a considerably diminished outside out-side demand and such changes as did occur oc-cur were mostly In comparatively active stocks Much rent receipts for many railroads rail-roads covering a5 It did a period of un uorable weather condlUons generally showed results beow tpetatons The gross weekly returns appearing fur April on the other hand shows an Increase In trm c The seeming desIre of the Filipinos for a cessation of hostitls make It evident u favorable decision will be reached In a short time The diplomatic strain with German owing to the public remarks of certaIn naval otlcers a regards the snua ton In Samoa and the operations at Jlanla Is practically over The nioney market howe strength In the later part of the week In expectation of May dividend and Interest requirements and tilO necessity of financing tJe amalgmat eti eoppr industry next week Sterling exchange was strong In anticipatIon of Ion ol sales particularly of Anaconda mines The Spanish indemnity Is yet to le arranged for so that authorites be 1ee that exots of gold are not anticipated an-ticipated whIle cal money rules In New York at about double London figures unless un-less England should return to America other large holdings of American stoCl The bank clearings decreased compared with last week relectng the fact that speculatIon In stocks diminished to Ut1c over ZOO shares during the week but the general business or the country continued con-tinued large and trade recorded no expansion ex-pansion In tho business of the country Business In sliver certificates after along a-long peiod of comparative Inactivity rOse I centS to W closed only 1 cent lower The llice attained for tile white metal was the highest In over two years and k the certificates traded in represented < 1 I 0 ounces The trading In Anaconda min lug wbiqii made a net rise of 123 closed only a alight decline etc the best the sales reaching nearly 20 The trade In this stock was associated with the statement of incorporation of the copper trust which was to embrace this company com-pany I the trading In Anaconda together to-gether with the trading In the Green and several other stocks be substractw i will be seen that the trading was 11 narrow and that the standard shares were very much neglected CrOl uncertainties together with the decr o of 17Q II Burlngtons surplus I earnlnss for MardI left the gang rs fractionally lower TIw professional ee 1nt is largely bearish 01 certain stocks which have experienced an unusual rise while the rank and file are generally disposed dis-posed 10 holt tenaciously to their stocks 01 tG belief that the present marltet is but a halt and that bullish enthualasrn t ifl arouse stocks hi I theld lethargy sr bountiful crps arC assured For the and steel shares were Irregular veek the iron ant stel 11 regular to the extent oC I point or so Jinportallt chulcs not hitherto men mporlnt tioned arc Advances Third Avenue 10 Canadian PacIfic f MinneapolIs St Louis nlA1 Minnepols Sf Louis sec oml prpfEret 4l Declines retropoltan s Tobacco 4 ½ Manhattan 4 and Hcawa I ludson and Brooklyn Union 4s41 Operations In bonds during the welt 0lH1ratols were 01 a large Celtic and mal of the mediumpriced Isuds made handsome ad 1111mlrlced IIIIICCS The fact that several state have laws Impeldln or enacted permitting I savln1 banks to Inn st in certain high ciass railway boitds has tended to en I Itanee th value n cr ntontgagcs Spec 11Jal01 generally too wag strong ant tonlldent tIle absence of real stringency ill the money market forcing the employ UILIlt of Idle funds Into mortgages which lHnt return a fair rate oC interest United States 4s reglsterel advanced a the new 2Jst J Jltth ee re 31 4s registered and the now 4s coUpon 1 0111 tile is registered in the bid Price I Tlit old is eOtlOll rci The totaJ sales of stocks today amounted amount-ed to 2iI hares 1ncludhl American SI Wire 10J merCl Sugar 39500 AnacOnda 1Inln 111 Atchison I Preferred 7301 Brooklyn Talii Transit I llrefctf Brooklyn Rapid Transit Wghts 1c Burlnton 111 Chicago ConTraction Con-Traction 401 Colorado Pu1 Iron 4k0 Consolidated Gas 3 O Continental Tobacco 620 Federal Steel 440 Iowa Central 20 LouisvIlle Nashville tsl Manhattan Con 95tO ret St Ry UO t 1lanlatan llxl1 Central 30 National Steel 3 New York Central t00 Kerth American O Northern Pacfc 9oJ ennsJvmla Rairoad 26 Peoples Gas k Coke 2S St Paul IS Tennessee Coal 401 Union Pacific 3W I Bond Quotations 1 S 25reg1J pro H T 2mis G7 i S s reg107M i T 4s 94 t 1 lim r 1 cup10StN r c isis 114 1W S new 4s regi2SN J C gen 519 U S new 4s 1N P IsIs120 1 0111 13 1 N P 5 G1 I 1W S old 4s regh1P4N P t S old 1 4s cuP13 Y C St 1 S < re I1 1 L 4s 1071 I C S Sa coupJh3 N S W con s C 11 Dist i C 3 5c117 I N V gen Os130 Can S 2lld h11U1Ore Nay slsl1 I < O 4t s 5 Ore Nay 4s101 C 0 isU 0 S L G 1311 C N con s 141 0 S L con is iiia I C 15 s s1 Iteathing gen 4s 1 j deb a 123 in IV lets 513 I rhl Term ls100 SL L 0 R r j RG iis K fi 3 1t G 4s 102St I consiCSl Eat T Va St P C P Ga IsisPO1 late 1 Brie I Gen 4s 12iSt P C P i 1t F W j C iSt 2 Ists Southern Ry 5s10 tell EIl 551r Standard H 4 G H S A T 65 p9 6s 1 I IsisIll G H S A 1 F P 2nds 15th 2nls J1llj T7 1 4s I T C Ls1U P D G H T C con Ists fat 55 12 ai isis Iowa C Ist5I1 Web 2nds 10 N C P G lv Shore 4s1I4L lets rtjls Cent 4sIv L N u 4s IColo S 4s Sj ½ Stock Quotations tchlsOt 19 ½ St L S F 1 Prcfered O1 Prferred 71 fbI OltloH ½ Second pfd 3 Can r Nrl R 1St Si L s w 14 ½ all Southern 5714 Preferred Cent ttittific LlSt Paul 1 Claw Ohio 27 11 Preferred lr Clii AltOll lia St P 0 C B W IIj Preferred 1 W4 ChL B ills is ISo Railway 12 Prefere 12 Prferrel C G W 3iliUnIon Pacific 4G Chi md i 10 Preferred 79th Preferred 13 ½ t P 1 g < i I C N ic ½ Wabash SI Preferred 193 Preferred cCCstLui I lv refere I3 Jtcfercd 9i Preferred a > el 6 Iudson121 Adams Ex11 D 1 V17I American Ex140 D La R G 21 United States 51 Preferred 7S ½ Wells Par012 Erlo new iitAnt Cot Oil Preferred 37f Preferred 1 C Fort Wayne 1s lAm SpIrits 13 GL N pfd191 Preferred 3j Mocking Yal 10 ½ Am Tobacco 2 11115 Cent117 Preferred 13 Lake E W 17 ICon Gas109 3 Preferred 09 Coia Cable Co1 y Preflred r ICOm Colr I V Lake Shore200 Cob F L 52 ½ Y Louis Nash f Preferred lOS i Manhattan L 1l9 ½ Gen EIIc 15 ½ Uet St 119242 Uav Com CoIU J 1 1lch CenLill ii n T CoIl ½ M St L61 In Paper 5 I First jfti101 Prefercd 5 Mo Pacific 494 Laclcde Ga Mobile 1 Ohio 45 Lead s iio IL M 1 T is7 Preferred 113 Preferred 18Nat Lln OIL Z X J CentrlI2 Pacfc Mail 51 X Y Central 1H 1eoples Gas m N Y C St Pullman Pallet L 13ISlver Cert 6 First pfd 06 Standard 11 Second Pfd12 10 Nor West 21Sugar 16S 8 No Am Co 11 Prefened 17 Ko PacIfic 17 IT C 1 61 ½ Preferred 1 IU S Leather 6Y Ontario y 2 si Prefelre1 72 727 O u N 68 jU S Rubber 53 O SL 4 Preferred 151 lalfc Coast 1st Western Union itd fd 8 Am S W G Seond pfdS Preferred 14s ½ I > ltsburg 18 Federal Steel GS ½ Reading 224 Preferred SO 4 fgr g First pfd f Pacific Coast 40 P G W 1 Nor W pfd 6 Preferred 764 Cob Southern C ½ Rock Island316 First nfd 10 ½ So Pacific i I Second ifd 20 Tex Pac 22 Stock I London New York lrl 2The CommociaI Advertisers fInancial cablegram The market here opened dull today on tho announcement that the government has represented to the Transvaal authorities i that the dynamite monopoly Is a breach of the convention They hardened later on the AngloRussian agreement ns to Chinese rahwas Americans were stag meat moving within a fractional range Copper were strong on the Incorporation of tho comblnatul Arbitrageurs are I buying freely Anacondas were 1316 Tints 49 a fresh record ant Utas 10 s I at Money 23 9 was hard Silver was quite firm The Financial Situation New York April 23The Financier says this week 1he New York banks arc still accumu lQtn Idle reserves the total surplus according ac-cording to the current exhibit footing up 552U5 he fftor whih frp rom 1 nent In the previous statement are stil In evidence lhey had i further decrease In loans the loss of 53 ben much lees however than reported for the week te endI April 22 Deposits have fallen off tS and a cash increase over one million thc surplus expanded 13475 The statement r much better than it has been looked for Known operations for the week with the subtteasttry retalted in I a loss of more than tllrec fe a half mu I I lons to the bnks antI this more than I offset ion thc estimated gin from the Inter lorAs As i transpired however the bank av crg disclose a better ending for the veek I is Immaterial whether tile actual ac-tual conditIon oC the clearing Institutions Is reflected in these cern Insttutons tendency In money affairs Is favoring I continued flow of funds to this center and In a brO sense gains are to be ex l > ted from this time on Whatever money the banks lost to the subtresur during the pat few days will probably bo very much more than recovered throuh interest tlsburements and other payments beginning May 1 or more interest than the bank averages aver-ages Is tIle condion oC the exchange market which Is working toward a high level with the ProbabilIties of l still further fur-ther advance 111 quotation is now very near the exporting point but that gold will flow outward Is regarded as extremely Jy doubtful Money rates abroad do not encourage such a supposition but It will be recognIzed that fluctuations In our domestic rates will react sensitively on exchange quotations Despite the rise In exchange which on the surface Indicates a liquidation I of trade baiancee the facts I go to show thit Europe Is still a debtor to the United States ali future opera tons leading to a transfer Of gold will mean something entIrely different from the causes which set In motion these force in the pat Weekly Bank Statement New York April Thl weekly bank Statement shows the following changes Surplus rene Increase 134S7 loans decrease 53 secle decrease 5545000 specc 5SO legal tenders increase 1 5iO deposIts decree St3J circulation decrease 7r0 The banks now hold 25465 In excess of the requirements of the 2 percent per-cent rule I Metal Quotations New York April The brokers price I for lead is 410 and for copper 9 11H prce |