New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-03
RONDS.
THE DAYS OPERATIONS IN STOCKS.

Price fluctuations in yesterdays stock market
were insignificant in the greater numoer Vi ''
sues Owing 10 local and foreign realizing OPEN
ing prices trife under Wednesday Gus
ing. but subsequently recoveries were maze
throughout the list, with last prices showing
small net changes n the majority OF issues
There was considerable regularity in the oay'
and heavy gales for prohts. but all offerings were
well absorbed and buyers appeared comment Oh
no material setback In values. wall street Is
bullish, but there are many bulls VINO "ouiu
IKE 10 see reaction In prices. The market 10
no, oyerbought however. and it is difficult to
bring on a decline in the absence Of disturbing
news There are too many encouraging features
in the agricultural and business situation 10
warrant a serious setback. and holders OF good
securites certainly will not sell their posses
sions long as they see such excellent pros
poets Of future market appreciation.
II will soon be the time for the usual batch
Of doleful crop tales from the West, and II they
arrive In generous numbers It may be assumed
that leading speculative interests are working
for a reaction in prices. Actual crop conditions
SO far are all that could be desired The cur
rent year gives promise Of being another proht-
able one for the American farmer. and as con-
sequence a prosperous season for the railroads
and Industries And prosperity in the agri-
cultural community with easy money in wall
Street are pretty safe factors for bull specula-
ton IN stocks. The bond department was again
highly active. with total business reaching
in par value S3.334.OOO. 1t was widely dis
tributed business too, indicating sound invest
ment buying and disposition on the part OF
capitalists and small investors to find profitable
employment for their funds. There is a vast
amount Of idle money in this country which
Of the securities markets.
The ease Of monetary conditions abroad was
reflected in a further reduction by the Bank OF
England in its minimum discount rate at the
weekly meeting Of the bank yesterday. In this
market time money remained easy at from 10
3]s per cent. according to the date OF the loan,
while the best commercial paper was quoted at
344 per cent for all periods Ease In money
rates furnishes strong incentive for active
speculation. and II is expected that current
speculation will gradually expand and embrace
the majority OF stocks on the list An indica
ton of this was noted in yesterdays market.
Stocks which have not enjoyed fair proportion
Of the recent advance were more active especially
the Pacific stocks and Erie and Reading issues
While certain large holders were sellers Of
stocks acquired at lower level other interests
of equal financial power were buyers and the
market whole showed demand broad
enough to absorb all the sales Of speculative
profit takers. Last prices under the best
Of the day. showing irregular changes from
Wednesdays final figures. with about equal
distribution of small net gains and losses.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS.-sales. $1,000 cou-
pom Is Of 1907 at 111A and $4,000 coupon As
Of 1928 at 123A Final quotations follow: