New-York tribune., 1901-11-21
BONDS.
THE DAYS OPERATIONS IN STOCKS

THE DAYS OPERATIONS IN STOCKS.
The stock market displayed a fair degree OF
strength at the opening yesterday, but its sub
seQuent course was irregular with reacuona-
ny tendency, and the close was heavy The
volume of business also showed decrease. The
news of the heavy franchise tax levied on the
Peoples Gas Company Of Chicago and other
important corporations by the Illinois State
Board of Equalization was received late in the
day and exerted an adverse influence on val
oes There was a particularly severe fall In
the price Of the stock OF the Peoples Gas Com
pary. II was said that the tax levy would be
contested by the corporations affected on the
ground that II was excessive. There was buy
ing Of an excellent character in Reading COM
mon and Ontario and Western 1t was based
principally on the unusually satisfactory condi-
fion of the anthracite coal trade. but In addl-
tion it was said that developments of some i'm
portance in the affairs Of the Reading COM
sany were impending A sharp advance in
New-Jersey Central was accompanied by re-
port that an increase in the dividend had prac-
rically been decided While Union Pacific
displayed strength at the opening, it developed
marked weakness in the late trading.
In spite of further exports of gold money
was In good supply. While exchange rates have
not been such as account for the large outso
Of gold, there is no doubt, nevertheless. that II
Is fully eXpldineO DV eXclaISe CoHulLlOilS
rope more particularly Great Britain. has In the
last few months sent back to this country a
large amount of American securities These
were paid for with the proceeds OF time bills Of
exchange and the bills now maturing. 1t
was expected that the bills could be met with
cotton and grain bills. but these latter bills have
been in surprisingly small supply. with the re
suit that gold has had to be shipped TO fulfil
obligations While the shipments Of gold have
been 20 the Continent they have been on London
account-in other words, New-York owed Lon
don, but London owed the Continent, and Lon
don ordered the gold sent from New-York TO
/ the Continent. There is expectation that
q shipments direct from New-York to London
Will be made by Saturdays steamers. What
total the gold exports will reach cannot yet be
determined. but It is regarded as likely that the
outflow Of gold viii continue for some little
time.
Renewed interest in the transcontinental rail-
road situation was expected by statement that
pool headed by of the leading directors of
the ,Atchlson, Topeka and Santa Fe road had
accumulated between 800 600 and 100000 shares
Of the common stock of the company 1t was
not believed that this stock acquired for
speculative purposes, but instead 1t thought
to have been acquired in pursuance Of some
new deal. Notwithstanding the repeated denials
that anything Of the kind in prospect, It
seemed De Inc general Dellel IIAl cOHlrol CT
the Atchison would later be lodged
with the Pennsylvania Railroad. The Burlington
and Quincy road was formerly the Western ally
OF the Pennsylvania. but the Burlington and
Quincy having passed into new hands the
sumption is that the Pennsylvania must estab-
fish another connection to and from the Pacific
Coast The Atchison is the only independent
line left between Chicago and Missouri River
points and the Pacific Ocean Immense blocks
11,Ec ol- l,olj
delphia trust companies collateral for loans
The buying for the pool carried the price from
about 45 TO above 80. and it is hardly to be sup
posed that liquidation could be accomplished at
anything like the current price
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BoNDs.-Market steady. Final