The times., 1901-06-22
STEADINESS IN DEALINGS 5
Yesterdays Trading in Fair
Volume and Well Distributed.
An Optimistic Feeling Regarding
Today's Bank Statement - some
Favorable. Traffic Reports submit
fad-Strength En Missouri Pacific.

Today,s Bank Statement - some
Favorable Traffic Reports submit
ted-strength En Missouri Pacific
NEW YORK. June 2L-The dealings in
;oday's stock market were in only talr
volume hut were wei distributed, anu
the tone of the trading was very steady,
practically throughout the business ses-
sion. There was absolutely nothing that
was novel which engaged attention upon
the opening of business. but much more
optimistic views prevailed in regard to the
probable showing of tomorrow's bank
statement These notions, in view of the
rather limited and professional specula-
ton conducted, were largely instrumental
in the tendencies of the days market.
The money market itself continued upon
the same lines as those which prevailed
Yesterday and the bulk of the borrowing
was effected at between and ~ per cent
Sterling exchange was only fairly steady
and the chief feature of that market was
the first appearance for the season ol
shippers grain bills for August, sep
tember. and October deliveries. rms iea-
ture of the foreign exchange market
should be followed by such steady de-
cline in rates as to put out OF the ques-
ton any further exports of gold to Eu-
rope.
The day's routine developments were
made up of the traffic returns submitted
and the dividends declared. As had been
expected. no changes were made IN the
dividends on the so-cailed Fanderblt
stocks. but according to the statement ol
earnings of the Lake Shore Company IT'S
net income was equivalent TO almost eN-
actlv double the amount paid out upon
the stock
London furnished small and irregular
urfces and foreign houses executed sfliaii
orders in this market on both sides OF the
account, their total operations being uhaer
25,O00 shares.
The features of the dealings in the rail-
way list were Canadian Pacific, Missouri
Pacific. Union Pacific, St. Paul, and the
wabashes. The exceptionally large ad-
vauces in the last named were attended by
renorts that it was intended to retire the
debenture bonds of the series and TO
establish the debenture 3 bonds upon a
fixed and reduced rate of interest
No particular gossip ATTENDED the pro-
nounced strength in Missouri Pacific. Ca
madam Pacific was strong on reports that
an early settlement of the labor troubles
on that road was likely. In connection
with the advance in Union Pacific, it was
stated that certain interests which re-
Gently disposed of a large block of st.
Paul stock had agreed to take in settle
ment an amount of Union Pacific of equiv
alent cash value. il was said also that
the transaction was large enough to es-
fablish a virtual community OF owner
snip,
In the Specialties in the railway llst IN
Guiding Chicago and Great Western, Iowa
Central Minneapolis and st. Louis, and
c. osssc Francisco
newed, without. however, any news or
gossip of novelty developing IN connection
with the course The anthracite coal
stocks were decidedly strong, particularly
for the Erie shares and Ontario ana West
ern, the course OF these stocks naturally
being referable to the prospective advance
in the selling prices for anthracite coal
TO be ordered on July l. 1t was stated
with a good deal OF authority that when
the selling prices for anthracite coal have
been definitely established. Doth the EIie
and Reading common stocks would be
able to show dividends equal 10 per cent.
The local traction group played great
part in the days market ana were Iead-
ers in activity, but the sharpest advance
was scored in Metropolitan Street Rail-
way. Nothing Of special interest deNel-
pped in the dealings in the Industrial
quarter. Sugar Refining was firm and
the United States Steel stocks continued
TO move within narrow range on fairy
large dealings.
was Peoples Gas, which regained the
whole OF its recent reaction. 1t would
seem that the management OF this com
pany must feel more confident as TO their
position with the Chicago city authorities
than ever before, inasmuch as il appears
that they have by no means decided TO
accept without question the arrangement
receI.tly ratified by the Chicago city
council Both Tennessee Coal and Iron
, and Colorado Fuel and Iron were firm.
General Electric was steady at the ad-
vance recorded yesterday. An influence
of some weight was the report of cred
fted expert whose report issued today,
stated that the general present wheat
prospects warranted an estimate OF a
Yield of 75e.090, coo bushels as minimum.