New-York tribune., 1901-06-05
BONDS.
THE DAYS OPERATIONS IN STOCKS.

There was good demand for stocks in yester-
DAYS market but at times prices We're Irregular
and lower under the influence Of realizing sales
and passing bear pressure. Final prices, how
ever were generally near the best of the day,
with net gains in the greater number of issues.
Public interest in the market was again marked,
and commission houses were well supplied with
ont Of town orders. Forenoon selling by traders
was apparently based on the report that sub
stantial interests had sold upwardS Of 10000
shares in Mondays market. and on rumors of
adverse crop conditions in Texas and Kansas.
Chicago prophets are sending out unfavorable
reports on the growing crops while from several
trustworthy sources estimates of this years har
vest based on current conditions are not
couraging as they were a month ago. 1t is likely
that the cold and backward spring has retarded
growth TO some extent. Insects have naturally
increased and with the advent Of warm weather
the Hessian fly and cinch bug will doubtless at
tack the winter wheat crop. Other troubles will
also beset the farmers, but the chances are that
wheat and corn and other products Of the ground
will reach maturity in more abundant proper
tions than recorded a year ago. Winter wheat
was failure last year. but even the worst pes
sinnists cannot find in the present condition Of
the crops reason for predicting a very poor har-
vest.
suggest investment purchases at the current
level. In the lower priced group, however and
particularly in the industrials, ample reason may
be found for investment speculative pur-
chsses. Confidence in the industrial shares is
growing, and people who were afraid to buy
General Electric below par are taking the
stock around go. General Electric stock ad-
vanced 10 points yesterday. This security Is
now closely held, and the slightest demand
causes a big advance In the near future, when
the newness wears off the stocks Of indus
trial combinations, buyers win be ready TO take
above par sound issues which may be
bought well under par. at prices yielding from
s 10 10 per cent the investment. In this class
such stocks as American Car and Foundry pre-
ferred International Paper preferred, Interna-
tional Pump preferred and Pressed Steel Car
preferred worth many points above ruling
quotations. OF the seasoned industrials Peoples
Gas is an attractive bargain Despite all the
assaults made upon Peoples Gas in the last few
years, the concern has paid dividends Of per
cent every year and earned more than per cent
The Southwestern stocks were affected by crop
damage reports. but early losses were generally
recovered before the close. All the so-called
Gould stocks were well bought on the decline
and throughout the list buying Of an excellent
character was noted. The denial by Mr. Have
MEYER that he would resign from the presidency
OF the American Sugar Refining Company ap-
peared to help speculative sentiment. but Sugar
stock was sold by traders on the theory that the
failure Of the company to raise the dividend in
dicated adverse trade conditions. Rock Island
and Ontario and Western were noteworthy
strong features; also Southern Pacific Erie.
Pennsylvania, Wheeling and Lake Erie, Des
Moines and Fort Dodge, Norfolk and Western
and St Joseph and Grand Island preferred. Union
Pacific and Atchison both closed at net losses
The close was generally strong