New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-21
BONDS.
THE DAYS OPERATIONS IN STOCKS.

TIL. stock market was dull and Irregular, win
weakness in the morning followed by strength IN
the afternoon 1t was again trahers nAiN
I'm which further operations for lower prlces cai
ried early prices for many stocks wen oe'o"
Saturdays final figures. The days war new
was too quiet TO cause any vigorous DVyiiis' TAG
late recovery in values representing GOVERNS ~
the shorts who doubtless realized the uaneei Vi
an extensive short interest in market paseu
upon solid business conditions. june ID tne
month for irregular and hesitatins STOCK 'na'
kets This is 80 chiefly on account OF ui'oei
.a,n,v over the outcome OF the crops and this
year the collapse Of the Chicago wheat SpeO"'a-
ZION has furnished an additional factor for stock
market calculation. OF course. much VIII oe
mend upon crops and the amount OF grain that
rvrona u,n take out Of this country but from
present indications there appears little reason
for the gloomy predictions about the wheat mar
waite future or the dismal talk about the OUTLOOK
for the Western railroads
The Letter failure a surprise 10 "aH
Street and served 10 impress traders with eau
ton. 1t is the unexpected that often happens IN
Wall Street, and in the present case IL mas ndu
q disagreeable effect upon sentiment because II
suggests the idea that the recent advance III
wheat WAS fictitious end that prices are now
likely to decline to a point which VIII mean d
marked falling off in the farmers income anu
In traffic receipts The advance In wheat Ger
tainly was fictitious in part. but II seems as II
the Street were assuming too much IN saying
that II represented nothing save manipulation
Such reasoning Is on a par with the lntel'ie"
with a well-known money-lender.who salo 'ha'
current railroad earnings are artlnciai Ferhaps
Errona will not need as much grain from the
1908 harvest as from that Of 1897, but II IS
more likely than not that foreign neeos VIII caii
for a good part Of the American surplus Inc
u,eas,ness over the wheat market reflects anx-
,etv on the part Of spectators TO buy STOCKS al
cheaper prices.
The Industrial stocks were leaders IN yes'e'-
DAVIS dull speculation. Peoples cas- a1ter an
ell decline recovered and closed at a net gain
OF 1ss per cent, while American Iooacco anu
srsar Refining made similar movements. In the
railroad list Burlington was an actlVe Ieatuie
=, net gain Of u per cent All Of the Granger
shares were strong in the afternoon the gene o.
roarket moving higher under the lead Of the
Western group. Brooklyn RAPID 1raHs'. u's
r,oved weakness on liquidation Of small ac-
counts, but made up It's loss before the CLOSE
Tbe friends Of the company are not worrying
ahau, elevated railroad competition az a result
~ the elevated company's trains running on the
pr,deo People who know anything about
Rrooktvn know that the elevated roads cover a
practically distinct and separate territory from
the trolley companies field. The effect upon
Rrook,vn Rapid Transits earnings Of elevated
connection cannot be material. The market
closed strong.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDs.-Sales. $4,000 regis
tered As OF 1907 at 109A and $1,000 coupon is