New-York tribune., 1901-04-16
BONDS.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN STOCKS.
The stock market was strong and active in the
greater part of the day. In spite of the sharp
advance in sterling exchange and stiff money
market rates at this centre, prices for stocks
rose without interruption from the beginning OF
the market until the end. Metropolitan stock
was one of the strongest features of the list, and
the buying was believed to represent inside in
terests. Selling of Analgamated Copper was
for the account of interests who anxious to
secure lower price for the stock The strength
In Consolidated Gas and Brooklyn Union Gas
gave rise to the report Of a consolidation be-
tween the companies. According to trustworthy
information there is absolutely nothing in these
r7lmors. Buying Of all the gas stocks was con-
sidered good especially Of Peoples Gas Of Chi
cago which was said to be for the account Of
prominent interests in the property This stock
is selling well under the gas stocks Of New
York and as a per cent investment it Is
recommended by conservative investors.
The position of the money market at this
centre causes absolutely alarm in banking
circles, for the reason that there is enough
money to meet the demands for general trade
and speculative purposes. The bank statement
on Saturday showed an increase in reserve
above legal requirements Of over S2ccooo. ana
the indications are that the movement OF money
this week will result in material gain in sur
change lent at per cent. with exceptions at
8 per cent Time money opened the week with
out important change, with offerings at from
4 to az per cent mixed collateral The
foreign exchange market was firm, with shght
advance in rates for demand sterling. The
strength in the exchange market is due to the
higher rates of money in London and Berlin, but
II is not expected that international money mar
ket conditions will result in gold exports from
New-York at present The amount Of money in
the country is so large that local banking in
terests are not at all alarmed over the low posi-
ton of reserves at this centre. In the last week
money for the account of Chicago, st. Louis and
nther Western cities was lent iE New-York at
from 3 to 5ha per cent on call
The course Of values yesterday reflected a
disposition on the part of many market IN
ferests TO convert paper profits into cash Ma
nipuiation was evident in Amalgamated copper,
Tennessee Coal and Iron and other stocks IN
which investors not particularly interested
Good buying was reported in the local traction
shares especially in Brooklyn Rapid Transit In
which developments of Importance are said to be
nending Rock Island which has been advanced
nv the so-called Moore crowd heavily sold
throughout the day. closing at a net loss or over
/ per cent Burlington also worked toward
lower level, in the absence of confirmation OF the
reports regarding the Northern Pacifc-BurHns-
ton deal It may be said on trustworthy au-
thority that the Burlington deal in its present
shape is surrounded with obstacles Which may
snterfere with the final success OF the plan
Holders Of Burlington stock want more money
than the Great Northern-Northern Paclhc IN
terests are willing to pay At the same time'
however it is generally expected that the deal
will eventually be effected
Commission house buying Of stocks throughout
the day heavy. while the realization OF
rrofits by operators who bought week or more
ago was large At the close there was long
list of net advances including 81 per cent for
Analgamated Copper. "a for American Lin
seed preferred 21a for American Sugar, lss Tor
Anaconda ~ for Brooklyn Union Cas- "7s Tor
Chicago Terminal. 33s for big Four. S1s for
Colorado Fuel Al for Consolidated Gas. AS for
Glucose for International Pump. Az for Met
ropotan 22s for Mexican National, 8 Tor Ma
tionsl Salt preferred. 2Ss for Peoples Gas ~
for Pressed Steel Car. 25s for Tennessee Coal,
and is for United States Leather preferred
The market closed a trife under the best prices
Of the DAY, but with firm undertone. Interest
In the Industrial shares marked