New-York tribune., 1901-01-31
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market again presented irregular
,r,ce novernents on a moderately large volume
NJ business Al the close net gains were shown
tn the greater number of issues, but only in a
few stocks were important changes recorded
Rock Island at a net gain Of 3la per cent was
the chief example of price activity, but consid-
cradle strength was shown by Missouri, Kansas
and Texas issues, Southern Pacific and Atchlsoh-
ST. Paul was heavy because the trading element
and commission house spectators sold on the
belief that the much talked of ST. Paul deal
would never become an accomplished fact. The
Street however, would not give up the Idea that
some big railway operation would be effected In
the Northwest so Rock Island was substituted
for St Paul in Wall Street imagination despite
the fact that Rock Island would hardly hn the
bill as purposed for St Paul Rock Island, IL
it figures in a railway deaf, will doubtless be
associated with the Southwestern roads rather
than with the Northwestern companies. Buying
Of Southern Pacific was said to foreshadow bet
ter relations between the Southern Pacific and
Atchison roads, but there was confirmation
Of the report. 1t was recently reported that
Southern Pacific would soon receive dividend
Earnings published yesterday for the month
Of December encourage the belief that this com
pany will be among the dividend payers at the
end Of the fiscal year at least.
Gold exports to-day will aggregate S2.35Oeeo
il was thought Inat a larger amount Woulo DE-
shipped, but the advance Of sterling exchange
in Paris on London doubtless interfered with
the triangular operation to the extent OF check
ing the exports from here The local exchange
market however, was strong and higher, with
demand rates only one-quarter OF cent under
the point at which exports TO London could be
made There is a great scarcity of sterling
bills at this centre and at other points, including
Canada. and it is therefore probable that ship
ments Of the precious metal direct to London
will soon be made, possibly Saturday. The
bankers still gaining on Sub-Treasury and
interior movements Of currency, but the flow
OF money is lighter than recently recorded, while
at no very remote period change in the tide
centre large, and gold shipments and the
spring demand from the interior should not be
effective factors in reducing the value Of securi-
lies. Time money is offered at per cent for
dustrial securities collateral. This certainly
indicates a belief in banking circles that the
money market viii not present any form of dis
turbance this spring, and that factors governing
the home and foreign money markets will not
work 10 the disadvantage of stock market opera
tons in the course Of the next six months.
Stocks a rule closed under the best Of the
day, with large amount OF long stock COM
ing in the Granger shares. Investment
buying was reported in NeW-YOrk Central and
other trunk line stocks. American Steel and
Wire advanced > points on covering of
shorts and buying for control Among the spe-
Vances. London houses were active buyers but
commission houses in general were not largely
interested in the market. Dealings We're not we'll
distributed, and the general market not
actively bought by outside interests OF the total
dealings ten stocks furnished over one-half.
THE DAYS OPERATIONS IN BONDS
GOVERNMENT BONDS-Market steady Final