The daily morning journal and courier., 1901-06-22
Etnancial.
THE STOCK MARX EFT.
Expected Better Bank Statement Causes
 More Cheerful Feeling.

Expected Better Bank Statement Causes
 n More Cheerful Feeling.
 New York, June 21.-The prospect of
 better bank statement tomorrow
 than has been expected caused more
 cheerful feeling in the stock market to-
 day. Advances were quite wide in some portions of the list and there was an appreciable increase in the dealings. The apprehensons which have been felt regarding the effect of the week S gold exports were alleviated by the pub- | lication of the preliminary estimates
 of the cash movements of the week, | which showed that several factors had | co-operated to offset the outgo of gold.
 The most important of these was a large influx of cash attracted from the l interior by the harder money rates | here. This movement has apparently
 served to offset the drain to the sub | treasury and left a margin of gain for
 the banks of over million of dollars. | The sub treasury operations them selves, although they include the pay | ments for almost $5,000, 900 of gold ex- l ported, showed an actual withdrawal from the market of only $2,291 ,000. The lllOHln ; HlSH lever Ol pGllSloll pay ments, the repayment for bonds re- deemed under the offer of the secre- | tary of the treasury and the redemp- tion of checks issued against deposits of gold in San Francisco and Seattle
 are the offsetting factors. The changes
 in the loan item are of course prob
 lematical. Rumors were ripe of the
 liquidation of some heavy corporate
 loans. The completion of the subscrip-
 tion payments on the new Pennsyl-
 vania stock, which was issued to reim-
 purse the company for recent purchases
 of stocks in other companies affords
 means for the liquidation of the large loans incurred while the purchases were
 being made. The Pennsylvania collat- eral loans on this account were stated at over $20,000, ,000 in the annual report and this admittedly has been added to since. The explicit statement was made to-day that these loans had been paid this week, but no authoritative intor- nation could be obtained on the sub- ject. The tone of the money market was easier to-day. A new version of the St. Paul deal to-day was to the ef- feet that the block of 250,000 shares of St. Paul stock, recently reported sold to Union Pacific interests, was in fact to be exchanged for an amount of Union Pacific stock estimated at an equal value, thus furtherng the estab- lishment of community of interest There was renewed buying by some of the larger speculative operators, who have been quiescent this week. Union Pacific was carried points over last r,S1 a& tit,,n al though the latter stock reacted. Re ports that a working agreement had been arranged between Pennsylvania and the Wabash caused the Wabash | securities to jump. the common stock rising 1 3-4. Missouri Pacific also rose | 1-2 later in the day. Canadian Pa cific rose IA followed by some of its | lines apparently on the hope | of stroke settlement. The strength | of New York Central seemed to be as- sociated with the dividend meetings of | the Vanderbilt companies. Peoples Gas was marked up over ? points on the prospect of a contract with the Chicago authorities. American Linseed preferred rose 4 on the advance in the price of the product The local trac- ton stocks were strong, led by Man lattan and Sugar showed a good gain, put without explanation. Colorado Fuel selling ex-dividend showed a gain 1t one time of 3-4. but saved only ? points net gain. General Electric, af- CT rising points, broke 8, There was ln unusually large number of low priced railroad and industrial stocks which are not usually active that rose rom 1 to points without explanation The market closed quiet and steady md with some stocks selling at the op Amalgamated Copper during the alter part of the day fully recovered ts decline, which had extended to 1 1-2. The speculative railroad bonds were l enerally active, and strong, Total ;, ales par value, $41S5,000 . United States bonds were all un- hanged on the last call.
 NEW FORK STOCK MARKET