New-York tribune., 1901-05-23
BONDS.
THE DAYS OPERATIONS IN STOCKS.

A noteworthy falling off in commission house
interest in stocks was the leading feature of
yesterdays stock market. Brokers had few
orders on either side Of the account, and as a
sule trading was confined to the operations of
professional dealers, a few speculative pools and
investment interests. Buying for investment
account was noted in various issues while in
some OF the stocks Of companies in which impor-
tant developments are thought to be pending
the demand apparently came from substantial
sources. AS a rule, prices were firm. with net
gains at the close. In a number Of issues
marked strength was shown. as in Erie, Wabash
issues and Reading stocks while only a few
shares presented evidence Of weakness The
professional character Of speculation
hected in the operations of room traders in the
cheap shares that have no extensive value, and
tn the relative dulness Of the stocks that were
recently the leading market favorites. Erie
common being a cheap security was bought and
pushed up by room traders but there also
some active buying IN the stock by brokers who
are supposed to represent Morgan and Hill in
terests. With the dealings in Erie excluded,
the total volume Of sales amounted to only a
little over 100000 shares.
In the industrial list efforts were made 10
attract attention to United States Leather COM
mon and American Mailing issues, but there
no public response beyond the orders or
operators who worked for quick turns. The
Steel shares were fairly we'll supported while
a good demand was reported for American Car
and Foundry issues. especially the common.
which closed q net gain Of over ! per cent.
Investment buying noted in the preferred
and in International Paper preferred American
LInseed shares sold down realizing sales
The prospects are that holders Of Linseed issues
will deposit their securities in large amounts
under the agreement by which an exchange for
Union Lead and Oil Company stock is to be
made. This arrangement VIII be for the best
interests Of American Linseed stockholders, as
the security they viii receive in place Of their
Linseed shares viii be Of greater investment
value than that Of the present Linseed securi-
ties. The Union Lead and Oil Company is
IN strong hands
Last hour trading in stocks was centred on the
hard and soft coal shares. with Erie the leader
IN point Of activity and advance. Various ru-
mors accompanied the movement in the issue
named. but no news affecting the property or
its securities developed.
Gold 10 the amount Of 100000 was engaged
for export and in foreign exchange circles fur
ther shipments We're predicted for the end of the
week Money market conditions We're without
material change. call loans ruling at per cent
while time money was in liberal supply at 4@412
per cent from three TO four months accommo-
dation. The movement Of currency continues
In favor Of this city and il is likely that in this
weeks bank changes cash holdings will show
a large increase. Money market conditions
sound. Stock market conditions are also sound,
but the course OF trading in the last three days
has not been encouraging for the traders who
expect speedy resumption Of speculative ac-
tvlty. Stocks are in strong hands, and adVan-
fage win doubtless be taken OF reactions by
cautious buyers 10 increase their interest in the
market Careful buyers picking up the good
industrial shares. which selling we'll under
their actual worth. The merits OF the various
companies are becoming better known and at
ruling prices the greater number of issues pre-
sent attractive bargains. It will doubtless pay
10 carry good industrials for the next bull
movement