New-York tribune., 1901-05-29
BONDS.
THE DAYS OPERATIONS IN STOCKS.

In the greater part Of the day the stock mar
ket was strong on moderately active volume
of business. Compared with the operations of
ante-panic days. transactions were light, but in
view OF the factors that are now in control Of
the speculative situation. the days business
reached a fair total Substantial advances were
made in the more active issues, with especial
strength in American Car and Foundry com
mon. Consolidated Gas. Delaware and Hudson,
Delaware. Lackawanna and Western. General
Electric. Missouri Pacific New-York Central,
Union Pacific and Wabash. The advance in
Iackawanna stock amounted TO - points
on transactions amounting to 1900 shares.
The sensational upward movement in this issue
was naturally ascribed to Gould buying al
though there was no trustworthy information TO
this effect In connection with the advance in
Iackawanna the Wabash issues showed re
rnarkable strength and animation. Wall Street
continues to believe that the Gould system Of
railroads viii find Eastern outlet through
the Wabash and Lackawanna railroads. AS
recently noted in The Tribune. the Lackawanna
stock is closely held. and il is not likely that
control has passed 10 Gould interests. 1t is
probable, however. that George J. Gould and
his associates have secured enough Of the stock
TO entitle them to a voice in the management
Of the property. The Gould party may secure
control a transcoptinental line
The advance in Lackawanna stock induced
active buying Of Delaware and Hudson. which
made net gain of over per cent. The other
anthracite coal shares. however, were compare
lively dull although they generally closed at
small net Improvement. Elsewhere in the rail-
road list conspicuous gains were made by New
York Central Union Pacific Missouri Pacific
Wabash and Minneapolis and St Louis. In the
Continental Tobacco were again active features
at sharp advances. There was no news regard
ing the movements in these stocks, and in well
informed Wall Street circles It was said that
the advance so far recorded had more than dis
counted any favorable developments that might
arise. 1t is well to bear in mind that American
Tobacco stock has always been under the in
huence Of highly talented stock market manip-
ulators. In American Car and Foundry stocks
solid investment buying was reported. Brokers
who generally act for interests identified with
the Pullman company bought the common stock
IN large amounts and at the close Of the day
this issue showed a net gain Of 2 points. The
preferred stock was also q strong feature. and
substantial market interests were noted as
buyers. The American Car and Foundry Com
pany has made a noteworthy record in the last
year and its preferred stock is closely held by
the best class Of investors. AT its current price
IL yields about 10 per cent the investment
Strength in the Chicago, Indianapolis and
Louisville issues was due to buying induced by
the report that the control Of the company had
been transferred TO the Erie railroad The Erie
stocks were also strong. but there was no con-
frmation Of the rumors just mentioned The
Iowa Central issues We're in good demand, also
Mexican railway stocks The United States
Steel shares were firm on fair volume Of bust
nd
upward movement in these issues would soon
take place. The local traction shares were firm
and steady. Brooklyn Rapid Transit was up
over a point. but transactions Were light and
without particular significance. The general
market closed dull. but generally firm, with
prices near the best of the day.
London operations in the local market We're
not important. and as a rule transactions
throughout the list We're confined to professional
traders operations. Investment buying was
noted in many OF the low priced shares and the
tone Of speculation in all departments showed
improving conditions. Money market rates de-
veloped further ease for call loans while ster-
ling exchange was again firm and at the gold
exporting point. 1t is expected that good sized
shipments OF gold viii be made to Europe to-
morrow. while il is more than likely that Sat
urday's steamers viii carry a considera BILE
amount Of the precious metal TO Europe Engage
ments for to-morrow's steamers already made
amount TO 81 100000
THE DAYS OPERATIONS IN BONDS.