The sun., 1899-04-30
FINANCIAL AND COMMERCIAL.
RATuRDAY. April %.

bATURDAY, April ~.
The influence OF the Ford Franchise Tax
bill was felt more particularly in the stock
market to-day than anything else. Although
practically local In it's application. according to
the Stock Exchange Interpretation, II was
not without It's effect on the general list. BY
starting a selling movement In the active New
York traction and gas stocks. II disturbed the
equilibrium OF the whole market. which a
bank statement that was considerably more
favorable than expected could not restore The
closing. In fact, was nearly as unsettled as the
opening.
The bank statement while negatived by tho
Ford BILL was important in showing that the
money situation is improving. In view Of the
losses OF money TO the sub-Treasury. an in
crease Of 81 ,34S.7 .775 In the surplus reserve was
particularly satisfactory. A decrease OF $685.
800 in loans made the reduction in this item
for April nearly $20.O00.000. The result OF tho
changes. as affecting cash In hand. was an in
crease OF S1.147.7OO. which left the ratio
OF cash to deposits at 277 4 cent. or
the same as week ago. The statement next
Saturday Is likely to show material alterations
in the chief items. The United States Treas
ury statement issued to day indicates that the
warrant for the $40 100000 payment to Spain
has been drawn by the Treasury Department,
and II is presumed that it is to be " financed"
in the exchange market. For another thing
the subscriptions to the new copper company
are TO be handled the coming week.
Brooklyn Rapid Transit stock. having been 4
leading speculative favorite naturally felt the
full force OF the Ford bill Other stocks to be
pressed for sale on account Of this bill were
Metropolitan Street Railway Manhattan Rail-
way and Consolidated Gas. On the other
hand. although the transactions in it were
small, Third Avenue Railroad stock advanced.
The upward turn in this stock was as
cribed to tho possibility of its obtaining
the franchise for the underground rapid
transit road. A loss in the price Of Ameri-
can Sugar was from another cause. II was
reported that recent efforts to terminate tho
sugar trade war had failed and that the fight
was continuing with. IL anything, greater vigor
than ever. The trading in Anaconda mining
stock was on a considerable scale. and there
was fractional net gain in its price, London
was buyer Of the stock. American Steel and
Wire stock was in demand on intimations that
developments of advantage to the company
were impending. Colorado Fuel and Iron picked
up sharply in price on the showing by the COM
panv OF a handsome surplus over dividends
for nine months Of the fiscal year. rumor
from London OF a prospective increase in tho
dividend on Canadian Pacific produced SUBJ
stantial addition to the price OF this stock.
The week in the stock market was a compar-
atively uneventful one. The overtures OF the
Filipinos for peace we're not regarded as fac
tor in the market Indeed. the campaign in
the Philippines has not at any time been a
moving element in speculation. The volume
OF business for the week was somewhat smaller
than in the week preceding. The final out
como was nearly equal division between
losses and gains in values.
As compared with the final prices OF last Sat-
urday. the majority Of stocks are lower. The
more important net declines are in Consol-
dated Gas. o. p cent. Metropolitan Street Rail-
way. Sh; Manhattan Railway. Az: Tennessee
Coal and Iron. 2h; New Jersey Central and Con-
tinental Tobacco. "a each; Reading ID pre-
ferred. 2H: American Tin Plate .; Reading lst
preferred. TX: Missouri Pacific. %; Colo
RADIO Fuel and Iron. IL; Burlington
and Quincy New York Central and South
ern Railway preferred. = each Louisville
and Nashville and Union Pacific preferred. :.
each: Atchison preferred. Rock Island and In
tenational Paper. Il each: st. Paul and On
tario and Western preferred Il p cent. each
The noteworthy advances are in Chicago Con-
Bolidated Traction. 2's y cent. American Steel
and Wire. Ok: Omaha. 2: Denver and Rio
Grands preferred. 1h Pennsylvania Railroad.
IN: Northern Pacific. \; American Sugar Re-
hning. y; PEOPLES Gas and Norfolk and West
torn preferred, y Y cent each
New York Stock Exchange-SaIes April 90.
UNITED STATES AND STATE BONDS I'm S1.O0Os).