New-York tribune., 1899-06-06
BONDS.
TIVE DAYS OPERATIONS IN STOCKS.

Renewed selling for the short account oy
onerators who closed out their commitments ."
the decline last week. and speculative seilne Dy
.,,uooa houses caused an irregular stock
market with prices for the more actNe ISSUES
heavy and generally lower, as compared WIZ"
SATURDAYS final figures. Commission-house Gus
tomers were not in the market, ana the se"'"e
nressure was confined 10 the professional eie-
ment There are few, If any, weak speculative
holders In the market. while the stronger HI
terests who control the greater part OF the Io''-
ing supply OF stocks are not disposed W pa''
with their possessions in a bear perlou' D'"'
traders may continue to work TOT lo"ei i""eo
of values but If their success is TO De meaeu'eu
by Yesterdays results, their proh's 0e''""''
,r,, NOT he large. Even in the speculative is
sues. such as Metropolitan, Consohda'eu gas
and Sugar Refining manipulation for ceciine
appears 10 work with the same stubooriihess do
noted In the January market, when manipuia-
a., Co.. O rise reached its limit. In the railroad
stocks prices were Indifferent to bear pressure
fuctuatng within a narrow range ana at the
close showing as rule, insignificant changes
Gov Tho dav Sugar Refining, American Smelt-
,ne Consolidated Gas, Continental Tobacco In
ternotionaI Silver of the industrials closed ma
tariallv lower while of the railroad stocks
Metronolitan Rock Island and Kansas ana
Texas preferred made losses Of per cent anu
above
Tho General list was somewhat unsettled al
the close. owing to the report that another mill
ion in gold would be exported to-day me
National City Bank will ship Sloooooo In goiu
as a special transaction, due II is peheVeu' W
Inducements offered by the Bank or Englahu'
whose percentage of reserve to liability is now
below the traditional minimum. The settlement
Of the Philippine indemnity payment was mace
through the remittance Of bills on London ana
Berlin and ii is not unlikely that Spain Is eher-
cisinr its control of these bills by drawing on
London which in turn has MADE some specid
offer by which the gold can be taken from 'his
centre with a bare profit to the local Shippers
Exchange rates do not warrant gold exports
1t is interesting TO note In connection with 'his
that the country's gold in circulation increased
In May over $23,OOO.000, due in great part TO
the payment by the Treasury to the local banks
Of S2O,O0O,Oo0 on the Philippine indemnity ac-
count Compared with year ago. the amount
of gold in circulation shows an increase Of
Ss4. .71O.296. while the total circulation Of all
kinds of money is larger by S1156 1913.
Railroad earnings received yesterday for the
fourth week in May presented remarkable gains
over the same week year ago. The most note
worthy increases were shown by Chesapeake
and Ohio Chicago Great Western, Denver and
Rio Grande Louisville and Nashville-which in
creased S11f 636-MeXican National Minneapo-
lis and ST. Louis. ontario and Western St Louis
and San Francisco. ST. Louis southwestern,
Wabash and Wisconsin Central Rock Islands
statement for April was disappointing TO stock
market traders. 1t should be borne in mind
that the statement compares with period last
year when the earnings were abnormal under
the influence OF the Letter wheat speculation,
and that In comparison with 1897 the returns
are most gratifying
THE DAYS OPERATIONS IN BONDS.