New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-06-29
Eek dividend. Eek rights.
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock market trading was intensely dull, but
prices were generally firm and higher. In the
greater number of shares operations represented
little beyond the dealings Of boardroom traders.
instances of outside buying being confined 10
q few OF the more active issues. in which light
commission house inquiry was noted. The fail
ure Of q stock brokerage house identified with
the troubles Of the Seventh National Bank had
no particular effect upon sentiment or prices.
This failure pretty we'll discounted in
Thursdays market and. beyond it's formal an
nouncement on the Exchange and the buying
and selling under the rule for the firms ac-
count there was no reflection Of the affair in
the market The downfall Of this house and the
Seventh National Bank will doubtless induce
greater caution in Wall Street operations, but
there is no likelihood that the general Wall
Street situation will be affected in any adverse
way by the collapse of the two concerns Lend
ing money on doubtful securities is not good
banking Fortunately the banks in general are
controlled by men who understand the banking
business, and who. in fact, are often accused
of being too strict in their scrutiny Of stock
collateral offered for loans.
Call money lent high as 10 per cent yester-
day, but the banks evidently endeavored 10
keep the rate down The demand for accomoda-
ton was not heavy. and ii was generally be-
lieVed that after July ] money would relapse
10 easier figures. From the known movement of
money in the week the banks have lost nearly
100000 net IN cash. due entirely TO pay
ments TO the Sub-Treasury on customs, inter-
Iial revenue and other accounts, including about
81 $4,000 purchase money OF the Sioux City
and Pacific Railroad. Receipts OF currency
from the interior We're in excess of shipments
by over 100000. After July / there win be
a material decrease in payments by the banks
70 the Sub-Treasury owing TO the reduction in
var revenue taxes, which goes into effect on
Monday. Interior receipts are likely 10 con-
unGe heavy for some time to come, and unless
bank loans make heavy expansion there ought
requirements until the time OF the usual demand
for crop movement purposes.
In the afternoon dealings the market deve-
opeS Increased activity and marked strength.
Total transactions, however, We're only about
45O,O0O shares with the heaviest trading in
Southwestern shares Erie common and first
preferred. the steel stocks. St. Paul, Pennsvl-
vania and Brooklyn Rapid Transit Advances
OF over j per cent were recorded in many is
sues. including Louisville and Nashville New
York Central, Union Pacific, Illinois Central St
Paul. Erie first preferred, Lackawanna Min
neapols and St Louis, Texas and Pacific. Erie
pennsylvania, Southern Railway, Missouri Pa
cihc, Southern Pacific. Kansas and Texas issues
and Atchison. In the industrial list purchases
OF American Tobacco under the rule for the
account Of the failed firm. were made AT a
sharp advance from Thursdays price. Amalea-
mated Copper advanced . points and Tennessee
Coal and Iron and Colorado Fuel and Iron made
sharp upward moves. Bergen Gas broke under
sales under the rule in connection with the failed
firm the net loss being over 81 points The gen
eral market closed strong at about the best
prices.
THE DAYS OPERATIONS IN BONDS.