New-York tribune., 1901-06-18
Sex dividend
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The weeks business in the stock market
opened yesterday with a rush. apparently re-
recting in no degree the rather unfavorable
character Of the bank statement of Saturday.
St Paul as was TO have been expected, was
the speculative favorite. and accumulated or
ders aggregating fifteen thousand shares were
executed in il simultaneously at between 1S113
and 1S4 II subsequently sold TO 1855
and closed at 1885, a net gain Of Ia
per cent. on transactions Of about llSeo
shares Union Pacific, of which more than
10000 shares We're sold. rose in the early
trading to 1l59s but closed at 1885. or q per
cent under Saturdays last price. No real news
developed regarding the progress Of the negoti-
ations between the two companies or between
interests identified with them. but 1t re-
ported in well informed circles that effort was
being made TO bring the St. Paul road definite
ly under control Of the Union Pacific. although
there was little reason to doubt that the St
Paul would in the near future be found within
the golden circle Of community Of ownership
which has recently been extended around so
many of its competitors. Missouri Pacific was
another stock strong at the opening. but the
1 action Of the directors in the course Of the
morning in declaring the expected 81 per cent
dividend was the signal for realization selling.
despite the showing of phenomenal prosperity
made by the company. and the stock, which had
sold 10 124z. closed at 1928. unchanged from
Saturday.
As recently as 1897 Missouri Pacific was sell
ing at 10 Its present quotation is by no means
too high. in view Of the known state of its
finances. its physical condition and the bright
prospects Of an abundant harvest this fall.
Colorado Fuel and Iron supplied the usual SEN
sation. going TO 1861 and closing at 133 a net
rise Of 2ls points. There were reports
that the United States Steel Corporation
had offered to take over the Colorado Fuel and
Iron Company, giving one hundred shares each
OF its own common and preferred stocks for
every one hundred shares of Colorado common.
the preferred stock Of the latter to be retired
There is reason 10 believe. however that such
q proposition would not he acceptable to the
owners of the Colorado Fuel and Iron Com
pany. Tennessee Coal and Iron also had sharp
advance, reaching 76l2 and closing with net
gain Of 4s4 per cent. AT 7324; but its rise was
probably in sympathy with that Of Colorado
Fuel Amalgamated Copper was strong all day.
and at the very end of the trading darted up
ward 3 points closing at l30, the high level
OF the day, and ga points above Saturdays
close. There specific development to ac-
count for the movement. Illinois Central. an in
vestment stock which many people expect TO
see sell much above present figures, yesterday
developed not a little activity, advancing on
sales of about 27000 shares a big days total
for this stock Of 1879. and closing at 49, 3
points higher than on Saturday
The announcement that about 81 600 600 gold
had been engaged for export caused a recession
in the middle Of the day. but the close OF the
market was strong. although rather irregular.
The gold to be shipped to-day is all going TO
Germany, from which country many thousands
OF shares OF American securities have been re-
turned in the last few weeks There was a de-
cided difference Of opinion among foreign
change experts as TO whether or not the ex-
port movement TO Germany would assume large
proportions. Advices from the Far Northwest
indicated heavy receipts by this country of
Klondike gold in the shipping season now open
.ng, so that a serious drain OF the precious
metal is not greatly feared. Reports from many
points In the West were unanimous in stating
the condition OF the growing crops to be all that
could be desired. and the prospect OF almost
record breaking harvests excellent.