New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-06-25
BONDS.
THE DAYS OPERATIONS IN STOCKS

With the exception Of the dealings in the more
fopular stocks little business WAS transacted in
yesterdays market Even the speculative ia
vorites failed 10 show marked activity Trad
ing was light because OF money market uncer-
tainties which again We're the controlling fac
tors in governing speculative sentiment Price
changes were extremely irregular, and while
the greater number Of issues exhibited net
losses for the day the extent Of the decline was
confined in most cases TO fractional recessions
The recent loss in bank reserves and the ap-
proach OF the July interest payments have
naturally induced careful operators TO remain
out Of the market and these factors have also
served TO discourage public interest in specula-
ton. This situation is by no means in favor OF
lower prices for securities Pending the re-
sumption Of active dealings in the market
traders may ne able TO depress values and
frighten some timid people into liquidation. but
there is little likelihood OF a serious setback in
quotations or a change in sentiment in the
higher Wall Street circles.
Money market co editions are not alarming.
Indeed, the money market Of the United States
is in an extremely strong position, and ad-
yances in rates at this centre are not signih-
SAINT of adverse developments. The enormous
disbursements on dividend and interest account
that will be made on July ! already being
arranged for by the local banks. and il does not
appear probable that the shifting Of accounts
Incident 10 the payments viii create an IN
usual disturbance in the money market The
bank statement last week made g. better show
ing than that Of the preceding week while the
prospects favor good exhibit in the current
week. Money may not be very cheap this year
but there will be enough for the purposes Of
trade and speculation and for further gold
shipments to various European financial cen
In z-far ~ n
agricultural community, where the crops prom
lse such bountiful harvests, in general trade
and financial centres there is excuse for
bearishness on the stock market. nor reason for
the pessmism that is beginning to develop in
some quarters. An accumulation of the cheap
stocks for better prices later on in the season
has been made by many farseeing operators
The majority Of stocks were heavy throughout
the day, but in number of cases marked
strength was shown Sugar Refining was bid
up on the theory that the reduction in the price
OF the refined product would stimulate an active
demand. which in turn would be followed by
an advance in prices. Illinois Central advanced
points a good sized volume Of bust
ness This issue appears TO he approaching on
Its merits. and il is thought that the price win
work materially higher. especially the present
character OF buying is Of the best. Perhaps the
heavfness IN Union Pacific and ST. Paul helped
70 discourage general trading. but. the main in
huence. however, came from money market CON
siderations. At the close prices showed small
changes in most issues. while trading exhibited
total lack Of animation Total sales were IN
der 10000 shares with the heaviest dealings in
Sugar Refining the Steel shares. Manhattan
and Brooklyn Rapid Transit The traction
stocks were In good demand, and further ef-
forts were made TO make the Street believe the
reports OF a Metropolitan control Of Manhat-
tan.