New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-01
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Definite information regarding the where
sbouts Of Admiral Cervera's fleet and the be-
ginning Of active preparations for land cam
paign In Cuba and Porto Rico were the stin-
ulating influences in yesterdays securities mar
kets London prices were also favorably az
fected and aroitrage houses were liberal buyers
here In some OF the more active stocks opeu-
ing quotations showed advances OF per cent
and above as compared with Saturdays closing
and from the opening until the close values
made practically uninterrupted progress toward
q higher level In Rock Island. Burlington St
Paul, Sugar Refining and Peoples Gas maxi
mum advances ran from TO per cent WIN net
gains only slightly smaller.
Wall Street was extremely bullisf yesterday
Excessive optimism in Wall Street is often the
signal for a selling movement but at present
no evidence Of a change Of position among the
larger operators can be detected. victory by
Commodore Schley may be taken advantage OF
by many spectators to sell their holdings but
the decline which would naturally follow should
be Offset by renewed public buying OF sufncient
force to prevent any extended setback In values
Until money rates move IN direction opposite
to that now prevailing there will DO no reason
for q permanent readjustment OF market values
to q lower level And from present inoicatlons
monetary conditions will remain In position OF
ease for q long time to come Government
loan has been too we'll prepared for to cause
any extraordinary disturbance IN tho money
market The banks are gaining cash from tho
interior and from the sub-Treasury. and gold
imports can be renewed whenever tho local
situation demands further additions TO the
money supply
In addition to the favorable aspect Of the war
situation, heavy traf1c returns. easy money at
home and abroad and dividend rumors were In
cidents Of the day assisting in the upward move
meut in securities Burlington showed net earn
ings for April Of 81 006 1857, an increase OF $1Oe-
40 over the same time last year. ana an IN
erease since July OF 81, $50. Northern Pa
einc for the third week in May gave IN increase
IN eross earnings OF S12S214 and all roads re-
porting showed encouraging gains. Rock Island
stock was again bought on dividend prospects,.
street reports intimat!ng that the oompanys d.
reotors had decided to raise the rate to per
can't, and to declare an extra dividend Of per
cent in the treasury stock. The leading railroad
stocks closed at substantial net gains. while
among tho less active issues noteworthy ad-
vances wero made by Chicago and Eastern Hi
uois, Delaware and Hudson, Illinois Steel. New
York Air Brake. Minnesota Iron. and St. Louis
and San Francisco second preferred. Louisville
and Nashville was exceptionally strong. despite
reports that the resumption OF dividends would
be postponed until the fall. Among low-prtced
stocks Of merit, Missouri Pacific. Chicago Great
Western and Cleveland. Lorain and Wheeling
were absorbed by confident buyers. Reactions
from the best prices OF the day were not impor-
tant st. Paul and Rock Island were leaders in
respect to activity in the railroad list. and Peo-
pies Gas in the industrial list. The last-namet
stock touched 104A, but closed per cent unde,
that figure.