New-York tribune., 1901-06-13
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market trading was made up in great
part Of the transactions of professional traders
AS a rule prices were strong and higher with
ret gains in the greater number Of issues at
the close In the railroad list the Southwestern
shares were again features, but the most active
stock on the list Pennsylvania, in which
dealings amounted TO nearly one-quarter of the
total transactions in all stocks. Buying Of this
stock was based upon the reports that the Penn
sylvania Railroad had secured control Of the
Pennsylvania Steel Company, and upon the in
crease IN the dividend rate of the Northern
Central which is operated by the Pennsylvania.
whenever the Pennsylvania Railroad secures
new property that property prospers and as
consequence opinion on Pennsylvania Railroad
stock is extremely bulsh. AS a : per cent issue.
however the price of Pennsylvania IS selling be-
yond the investment level. Missouri Pacific ad-
.vanced per cent in the morning. and held the
gain well in the rest of the day. In the indus
trial list many extensive fluctuations took place,
Colorado Fuel and Iron. for instance, selling up
rs points at one time reports that the COM
pany would be absorbed by the big Steel cor
poration.
Tennessee Coal and Iron advanced five points,
with q net gain OF three points Amerf-
ican Car and Foundry issues We're again
iconspicuously strong features on an excellent
class of buying. Buying Of the common stock
of this company has been a market feature for
several weeks.
The volume Of railway traffic throughout the
country continues TO increase. Earnings row
coming TO hand show marked gains over a rec
ord breaking period year ago. and reports
from all shipping centres indicate that there will
be an active movement of general merchandise
throughout the summer The Southwestern
roads all make astonishing exhibits foT the
month Of May, while for the first week in June
similar Improvement is shown. Missouri Pa
cific, for instance, returned for the f-st week
in June gain over the same time year ago
of SS0oo0 making from January l a gain Of
Sl.957.465. Missouri, Kansas and Texass earn
dngs increased S60,S53. and from July |. -. J30-
or The preferred stock of the last named COM
pany should at no remote period be placed
dividend basis. as the company's earnings
warrant payment on this class of stock. AS 10
Missouri Pacific, the only tangible evidence that
q dividend is soon TO he paid is the decision Of
holders Of the convertible debenture bonds that
paying ; per cent 10 convert their securi-
ties into stock. What form the much talked
about Greater Missouri Pacific system VIII take
still remains a mystery but the chances are
that Texas and Pacific VIII be taken over by the
Missouri Pacific and that Of the smaller roads
;n the Gould sphere Of influence the Colorado
Southern viii go into any combination or con
centration Of control policy that may develop
The full statement Of foreign commerce for
May. which will be issued Saturday, will
doubtless he a record breaker Exports in May
Of domestic breadstuffs, provisions, cotton and
mineral oils showed a noteworthy gain rs re-
ported by the Bureau Of Statistics, ard prelim-
snary estimates Of the exports of rnauUIact-
urers indicate A large total and a high excess
Of exports Of all articles over imports. EX-
ports in breadsruffs increased in May in value
S23Jooeo over May a year ago; provisions in
creased S2,2Tlone. and cotton 5000 000. In
the last eleven months the total exports Of the
products named have increased in value over
SlGO.om00o. compared with the same time a
year ago. With growing foreign commerce
and with heavy home gold production and high
receipts Of the precious metal from Alaska and
the Klondike, fears should be entertained
over the future OF the money market.