New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-27
Sex dividend.
BONDS.
LIE DAYs OPERATIoNs ~ sTOCKs.


The recovery that began IN Mondays market
continued in yesterdays trading. and the con-
slant Offering of stocks and profit taking
the advance did not prevent sharp advances for
the day. Buying, however. was not confined to
the shorts alone. although Of course, the chief
reason for the improvement was the retreat of
the short interest In Brooklyn Rapid Transit
the bear element was forced to cover its con-
tracts. while Overenthusiastic traders who sold
the stock short on Monday were badly punished.
the price advancing from the closing of % on the
preceding day TO 81 on a large volume Of bust
ness In order 10 keep posted Brooklyn
Rapid Transit speculation the trader must bear
in mind that the element which is responsible
for the decline in the stock from IS is still
working for lower prices. while the chief owners
Of the property are satisfied with their holdings,
which they bought to keep, and confident that
the stock viii prove to be a profitable invest
ment in the future. Crop news was better yes
terday. and spectators in wheat forced the
price down cents in the Chicago market. 1t
is probable that the decline reflected in part
fuller appreciation on the part of spectators
Of the big crops in the Southwest. and their
Importance as onsetting factors 10 the crop dam
age IN the Northwest Commission house bust
ness was better. and important interests ap-
peared more inclined to support their special
ties Baltimore and Ohio common and Consoli-
dated Gas We're the only important weak feat
ures but IN the final dealings reactions were re-
corded throughout the list renewed bear
pressure.
Railroad earnings for the third week in June,
now coming TO hand show no falling off in
traffic from the heavy volume OF the first two
weeks Of the month. Comparison with the third
week year ago, when earnings were enormous,
are in favor Of this year. as. for instance, in
the case Of ST. Paul, which shows gain Of
500 600 In the third week Of June, 1899, the
St Paul company showed an increase of $14S,-
600 over 1898, while this years figures COM
pared with 1898, give an increase Of $1S1, 600
Gains are heavy in all parts Of the country,
hecting that trade reaction has not yet cut the
profitable business Of the railroads. The signifi-
canoe CT heavy railway earnings at present lies
in the comparison with 1899 and 1898, two
years when summer earnings were heavier than
ever before reported for a corresponding time
In June last year the gain over 1898 was IA
per cent. and in July. 1917 per cent. In August
the gain declined TO Is per cent, and in October
20 L per cent. 1t viii require therefore. large
gains in July and August and throughout the
fall in order TO show material improvement over
year ago. II IS not unlikely that there will
be a lighter movement Of traffic in July and
August, II is probable that general business
Will be quiet in those months, but there is no
reason TO expect a decided decline in earnings
In May sanguine railroad men did not look for
ward to record breaking earnings in June but
records We're broken nevertheless and it may
come 70 pass that July and August Will furnish
similar surprises.
The railroads well afford a period OF
lighter earnings, and smaller returns in the rest
Of the summer viii not fOreshadow dividend re
auctions. A reduced volume OF traffic will not
represent National business bankruptcy or in
dictate q long period of business depression. II
is expected that July a number Of iron and
steel plants viii close. owing the failure OF
the various corporations to sign the wage scale
Of the Amalgamated Association of Iron and
Steel Workers. and this may have an effect upon
railroad earnings, but il Will not be permanent
factor. The consensus Of opinion among iron
men is that buyers win come into the market
In large numbers in the fall. and that under the
influence Of lower prices the actual volume Of
business for the second half Of the year will
show an increase over the first half The out
look for the railroads IS not gloomy. Mr.. Hill
Of the Great Northern road, does not expect a
heavy reduction in the revenue Of the company
from poor crops in the Northwest. owing 10 the
large volume Of general merchandise traffic and
the same opinion is general among the officers
Of all the Northwestern railroads. In transcon-
tinental railroad circles II is thought that the
trouble IN China viii eventually result in in
creased transportation in this country, as II is
believed that the Chinese viii open up the
Oriental markets much more quickly than could
be done by natural processes.
THE DAYS OPERATIONS IN BONDS