New-York tribune., 1901-06-15
BONDS.
THE DAYS OPERATIONS IN STOCKS.


The volume of transactions in both the stock
and bond markets yesterday was materially
greater than on Thursday. and in both depart
ments there was a rising tendency until the
last hour when. on realization selling, on re-
ports that to-day's bank statement might be
unfavorable, and on a sudden squirt in the call
money rate to per cent. a recession occurred
which cut down the gains made by some issues
and caused other stocks to close under the pre-
'cedng days final figures. UniOn Pacific and
St Paul were the stocks principally in the
speculative eye. Both were reported in strong
demand in London. and both opened on this
market with a burst of strength. St. Paul with
sales of 10000 shares. simultaneously at 1I01a
to 1922. and Union Pacific with sales os 5000
shares at 11iH to 114a4 The nature of the
negotiations reported to be in progress between
interests Identified with the two roads could
not be ascertained by the Street with any de-
gree of deiniteness. but that arrangement of
sort looking to closer relations between
these railway systems being seriously
sidered. and that its consummation would make
for the perpetuation of harmony in the North
western and Pacific railway territory, was
serted upon what appeared to be trustworthy
authority. ST. Paul scored it's maximum price
for the day 1161z. little before o'clock; but
under the selling pressure Of the last hour IL
yielded to 1914 at the close. a net advance of
IA points. Union Pacific moved more slowly
on the advance. rising 10 115%s. and lost more
ground on the break. closing with net loss of
q per cent at 1127s. The movement Of Colorado
Fuel and Iron again served as a reminder that
the Fourth of July is near at hand for this
stock. which on Thursday closed at 1161.. net
advance of Sl3 points. yesterday shot up from
that lofty stage TO 12115. a high record.
and closed at 124. ~ points above the preceding
days last figure. The control of Colorado Fuel
is closely held by a Western group and the
floating supply of the stock is comparatively
small. Its advance and that of Tennessee Coal
and Iron, which gained 21a points. were not
satisfactorily explained. the prevailing guess
which is probably incorrect-being that nego-
tiatons were under way for the absorption of
these companies into the United States Steel
Corporation
Glucose. after lowering for many days around
IS. advanced sharply yesterday on positive ad-
vices from Chicago that the consolidation plan
in which the Glucose company is the leading
factor, is practically certain 10 be successfully
carried out. The stock went as high as CO.
and closed 60. net advance of 41a points
The "Coalers' all showed sustained strength
on the prospect of an advance in anthracite
prices on July l. and the generally satisfactory
condition of the trade. Missouri Pacific closed
sold TO 124. It's early strength was attributed
to the announcement of its increase of net earn
ings in April by S4O3. $40. almost 100 per
cent. compared with the showing for April
1900. and the knowledge of this striking gain is
supposed also to explain in part the recent ad-
vance in the market price OF the stock
The Mexican Central first and second income
bonds were feature of the bond market. The
known movement of money in the week indi-
Gates gain TO the banks of about S2O0OOo The
net receipt of currency from the interior has
been smaller than for several weeks lately and
is little less than the Treasury's cash with
drawals. The increase of shipments of money
10 the interior this week is believed 10 be only
a temporary condition. One factor influencing
the market yesterday afternoon was the news
that preparations had begun for paying on
June 20 the Sl4.000OOO dividends of the Stand
ard Oil and Consolidated Gas companies An
engagement of 100000 gold for export to Hol
land by to-day's steamer was announced but it
is not believed by foreign exchange houses that
an export movement of any considerable size
is impending