New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-05
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stocks were strong end active. and b"nds
were in good demand from investors and people
who believe that purchases made at the current
level will result in handsome profits. LONDON
took no notice If Fridays vote by the moripuho
silver party IN the Senate, while local traders
remembered that Our silver Senators can 90 no
injury in these enlightened days OF progress ana
prosperity. Foreign prices were higher ana ar
bitrage houses bought their specialties. Traders
who sold short on Friday We're forced TO cover
and in the two hours Of trading Fridays losses
were recovered with net gains general at the
close Considerable attention was again given TO
the v-priced issues. In Cleveland. Cincinnati,
Chicago and ST. Louis sharp advance was
made on various rumOrs favorable 10 the prop
ertv. and Chesapeake and Ohio was bought on
talk of a possible further Vanderbilt railroad
consolidation. in which this company wouiu oe
included as we'll as Cleveland. Cincinnati Chi-
cago and St Louis. AT the time or the Lake
Shore and New-Yo Central consolidation Inc
Tribune was informed upon good authority ahas
other Vanderbilt consultations would be made
and current reports are not unlikely TO be oaseo
upon informa don equally trustworthy.
The advance in Chesapeake and ONO ana
Cleveland. Cincinnati. Chicago and st Louis Is
warranted by the increased earnings Of the COM
NAMES And the same reason holds good FOR
tho ma iority cf stocks on the list. The earnings
received Yesterday were exceptionally favorapie'
especiallv those of Chesapeake and Ohio'
Wabash. Denver and Rio Grande and MISSOURI
Pacific. the last named exhibiting an increase
FOR the fourth week in May of sloioW. MIS-
souri, Pacific for the year. from January l.
showed an increase in gross earnings OF Sl'ffo-
4OI over the same time in the preceding year,
which also exhibited heavy gains over the year
before Missouri Pacific stock Is selling at o'12
-ol.a
In 1881 it sold as high as HE WABASH pre-
ferred Is selling at 20 against 36ii an 1851 l"
view OF the excellent prospects OF the raiiroaos
NJ the United states it is not surprising that
speculative attention is drifting into the low
priced shares The soft coal and anthracite
stocks have been neglected, but promise to DO
better Cleveland, Lorain and Wheeling. one OK
the few roads that passed through the disastrous
coal war in the bitumnous coal districts wituVvt
defauting on its bonds. Is receiving iaVoraois
comment as a future market favOrlte
The decline in the wheat market In the week
following the elimination OF the May deaI was
nnt sienifcant as bearing upon the future for
eign demand for American breadstu1s Inc Ue
cline has served to hasten the sale OF surplus
stocks while producing a better opportunity TOE
tho new crops the condition Of which is all tnat
could be desired. The acreage Is larger inns year
than last and climatic conditions nave peeh Del
ter Stock market bears VIII doupuess soo" ue
gin 10 grow uneasy ever crop prospects, ana
tales of the rhinch bug, army worm rust anu
frost may be looked for. The foreign oemano
- III
norris last week. against 21G5ISI bushels In the
same time last year. while Western receipn,ss
amounted to i2,3'2o bushels, against -,oS S6 20
last yaar Corn exports for the week were t,Sol.-
$40 bushels comparei with l.92GoG6 bushels IN
the CORES ponlng period year ago. ne I'1 1
OF May was one uf enormous exports put ' Jul.
promises equally gratifying results, the Hrsc
week showing an increase Of about i" per cent
from New-York alone. while imports decrease11
* per cent The reports Of the commercial
agencies were favorable. the iron ana steer IN
dustrv showing particularly encouraging conol-
tons The consumption Of pig iron is al the rag
of 22SOOO tons a week. an Increase OF o-'--o
tons over 1887. ,,, l.,
creasing demand FOR money for conmerc,aio ana
stock market purposes. Loans ncreasei sil'ow.-
900 making the expansion in the last TWO weeks
over S2OWN,WD Deposits were larger ny Sio;I-
4u., 2Oo and cash holdings Increased SlS3o1,"
The result OF all changes was heal,niu &c
crease in surplus reserve Of SlIoi,VD 10 So
ci9 700 against 5000 S2J in the same time last
year 49,. .,,,.
stocks show the following changes: