New-York tribune., 1901-08-22
BONDS.
A T A 6 Fg 4s.l04
THE DAYS OPERATIONS IN STOCKS.

There were fairly active dealings in stocks
Yesterday. The opening was strong Most OF
the leading Issues made substantial gains IN
price In the early transactions, which were held
until toward the close, when profit taking oy
room traders and others caused a moderate re-
cession. The buying Of St Paul was again
consnicuous feature of the market. The stock
was taken in blocks which implied that II was
being accumulated preliminary. presumably. to
a deal Of more or less consequence There was
likewise a good demand for Union Pacific and
Southern Pacific. Southern Railway and Louis
willie and Nashville We're bought on the excel
lent outlook for the cotton crop. The Reading
issues and Norfolk and Western were also
in request on the favorable state OF hoth
the anthracite and bitumnous coal trade
Despite the poor trade in sugar. Sugar
Refining stock held its place. The Unlted
States Steel stocks were steady. Money was IN
abundant supply. and the state Of foreign eA-
change was taken to insure ability TO draw
gold from Europe should such a step he deemed
desirable.
The weather latterly has been favorable 10
the crops and not little Of the damage 10 corn
nv the earlier drouth and hea has been re-
paired. The shortage in corn undoubtedly viii
he great. but if is now believed that the ef-
feet of il on railroad earnings will be small
compared with the prospective increase in earn
ings from other traffic. Railroad managers eX-
press confidence that the business Of the roads
IN the coming year will be considerably greater
than that in the last year. They say that This
will be the case with the roads traversing the
corn belt as well as with roads in no way de-
pendent on the corn crop. The prospect is that
the export movement Of wheat the twelve
months ending June 80. 1902. will be the heavi-
est on record and that the wheat will steadily
bring a high price Miscellaneous tonnage is
enormous and is constantly growing. re
suit of the phenomenal prosperity and business
activity of the country. Rates are remarkably
well maintained.
The influence Of the steel strike the mar
ket as a whole is no longer perceptible, and il
is not important on the United States Steel
stocks. The strike seems TO have settled down
10 the question Of the exhaustion Of one SIDE or
the other. This may be a slow process. but from
the present aspect Of affairs there is other
way Of terminating the contest. The strikers
have recently made some gains, but, on the
other hand, they have failed in their eXpecta-
tions of closing several large plants. The strike
IS expensive FOR the companies, but when re-
duced TO money cost il is more for the men.
Wages are lost irrecoverably. while the COM
panies may make up at least part OF their loss
in future operations In the financial
lnunity the belief is that the cause Of the strik-
ers is hopeless. and that when they are con-
WINGED that such is the case they Will ask the
representatives Of the steel companies to propose
a basis Of negotiations for ending the strike
There is little likelihood Of serious labor trou-
bles in other quarters, for the reason that the
relations between employers and employees are
generally satisfactory and amicable. There are
very few complaints as to wages.