New-York tribune., 1900-04-27
BONDS.


The stock market not active but there
was fair demand for attractive issues from
good class OF buyers Prices were strong in the
greater part of the day, and as q rule final
quotations were above Wednesdays last figures
while in a few stocks substantial Improvement
was shown. A disposition to buy attractive
cheap stocks which have an assured future ap-
pears 10 be developing. In view of the great i'm
provement in the actual worth of the low priced
stocks a material appreciation in their market
level would be justified, and ii is reasonable TO
believe that in the course OF the current year
substantial addition in market value will be
made 10 many securities which represent grow
ing railroad and Industrial properties. In yes
1erday's market Wabash securities were active
features. and ii was said that buying repre-
sented Vanderbilt interest in the stock. While
the chances favor the final acquisition of the
Wabash system by the New-York Central. the
current inquiry for the Wabash securities finds
ample justification in the company's heavy earn
ings and sound financial position. In the last
Few years the Wabash company has spent a
large amount of money its property, and it
IS ROW in prime physical condition while enjoy
ing period Of financial prosperity which will
eventually place the preferred stock in the divi-
Ydend column
In the Southwest the railroad situation is full
of possibilities, and II is generally believed
InaI lne possibilities VIII soon CeNelop into
realities through the medium of the stock
ket The Rockefeers and the Goulds are lead
ing interests in the railroad situation in the
Southwest and a unification Of control Of Mis-
souri, Kansas and Texas and Missouri Pacific
Is suggested by recent operations in the stocks
Of the respective companies. Any consolidation
Of the Southwestern roads will include St Louis
Southwestern. This company has made marked
progress in recent years. and its securities pre-
sent further examples Of attractive cheap stocks
with promising futures Recent buying Of the
stocks OF St. Louis Southwestern has reflected
inquiry by people who evidently anxious
TO secure as much of the stock as possible with
out advancing the price.
The money market situation continues to rule
in favor of the borrower, and unless gold
ports should reach large figures materially
higher rates for money are not expected. In
the matter of railroad earnings holders of stocks
have every reason for satisfaction, especially in
The returns coming to hand. April earnings
compare with active period of traffic year
ago, yet the comparison is in favor of the cur
rent season by large percentage. The eXtraor-
binary business being handled by the roads is
reflected III the AtchisOn statement for March,
which shows gain in gross earnings of 30 per
cent over March a year ago. The net returns
Of this company increased 1927 1853
The market showed a distinct tendency to
advance throughout the day. last prices being
about the best of the session. Speculative inter
est again centred in Sugar Refining, which
advanced six points manipulation based on
talk Of a trade war settlement The traction
group strong, and the railroad list in gem
eral presented aggressive firmness and substan-
tial advances in many issues Commission
houses were active buyers The shorts
covered throughout the list, and in the last hour
the demand from this source urgent es-
pecially in Sugar Refining, which jumped TO
11sA. Many rumors affecting various properties
went the rounds in the course OF the day, but
few had any basis in fact.