New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-11
High. Low. june g. June z lCn'ss.I sales.

Sales 10 active 50 se4 900
Total '44'oS
THE WEEKS OPERATIONS IN STOCKS
Small daily fluctuations on a light volume Of
business marked the course Of speculation last
week Prices sagged by fractions. and at times
rallied as much, but at the close the general
level Of quotations well under the final fig
ures OF q week ago. DuIness In stock trading has
become chronic, and il Will require excessive
ly stimulating development TO lift prices and
sentiment 10 a active level Brokers will
find Pilgrims Progress exciting compared 10
the current situation the Stock Exchange.
while 1t may be truthfully said that driving
steam roller over Brooklyn pavernents would not
jar one es much the present stupid market
Jars the money making nerves Of commission
house brokers. There is nothing doing In broker
age houses. and the one-eighth OF 1 per cent
commissions hardly heavy enough to pay for
the stationery and reading matter which all
houses supply for their customers, who seldom
trade but who always hang around" London
sold more stocks than It bought IN last weeks
market. but foreign operations represented moth
ing beyond professional arbitrage trading. Fair
support was reported IN the granger shares
the decline; also IN Missouri Pacific and Balt-
more and Ohio The traction shares were heavy
and the eteel stocks generally lower. Sugar Re
make noteworthy progress in either direction on
the dividend announcement
The Atchison dividend declaration has been
criticised in some quarters rejecting reck-
lessness the part Of the directors, but in well
Informed circles the advance OF the preferred
stock TO a per cent basis is not considered
beyond the limits of conservatism Atchison
viii show Cor the 1scei year surplus above all
charges Of over 100000. and after allowing
Glue -
over S3.250,000 Will be shown. The preferred
stock is entitled TO per cent. and the state
1rlert OF earnings submitted the directors had
no alternative but 70 pay the full amount The
Atchtson dividend declaration ought 70
strengthen confidence IN the intrinsic value Of
Investments, for II represents confidence among
conservative business in the stability Of
this country's industrial activities Reaction in
trade will doubtless affect railroad earnings this
summer. but reduction in the volume Of traf-
sfc from last years heavy business viii not
foreshadow railroad bankruptcy. Stock market
bears may possess more foresight than the
abiest railroad managers and business men In
fhe country regarding the effect of period Of
decreased earnings on railroad property. but
wise men VIII undoubtedly prefer TO accept the
opinion OF practical business rather than
the theories Of resourceful spectators. Com
parsons Of railroad earnings from VIII
be made With G. period last year when the trans
portation business was enormous and when all
past records being broken every week
Wall Streets crop bureau began active work
last week. and fearful tales Of crop damage
were freely circulated and, usual. they
believed by the small account trader. Grass
hoppers. chinch bugs, weevils, Hessian flies and
army worms were reported TO be industriously
eating up the growing crops. while hot winds
drouths and occasional frosts said to be
ably assisting the army OF insects in the cam
paign against the agricultural community. It
win be fortunate indeed for the farmers If
they are able TO harvest any grain at all this
year. considering the agents of crop destruction
that now working against them: but from
current reports il looks if q year of distress
ing famine confronted the agricultural section of
the country. At least this is the way it seems
after reading bear ebullitions about the crops
Results. however, seldom in line with bear
predictions and as this is the season of the year
for crop fairy tales it will not be wise for hold
ers Of stocks sell their possessions because Of
crop reports that come from people who are good
stock manipulators but poor crop forecasters
No crop reach maturity without damage
but the harvest Of 1900 VIII doubtless yield
enough grain for home needs and for foreign
requirements.
The Chinese situation Is a factor for the
bears and II Will doubtless to restrict trad
ing in a market already checked by political and
trade uncertainties AS a favorable market in
fuence the fan OF Pretoria has been Offset by
the serious trouble in China, and at the moment
indications encourage the belief that the East
ern situation may become a factor Of greater in
fuence IN the financial markets than any factor
that has hitherto developed. The public is out
OF the market SO far as buying is concerned and
the expectation Of June bull speculation is
growing fainter every day. There is ENCOURAGE
ment, however, IN the fact that the investment
interests OF the country are not converting their
securities into cash. Business men apparentl,,
are not frightened by political prospects at home
and abroad. Europe is not Withdrawing its can
lta4 invested here, money IS not scarce and in
VestTnent returns ere not In danger of reduction
or suspension. Speculation has been nrenarjTi+
Tor ali kinds OF adverse DEVELOPMENTS and a =
consequence the market is IN splendid CONDITION
10 meet the results of trade reaction ,oIf,tnaI
campaigns and any international cor,n1ica+to,
from the unsettled condition Of affairs IN CLi
GOVERNMENT BONDS
Government bond quotations comparaa e g.,
lows with those OF week ago: