New-York tribune., 1901-04-21
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market opened with advances
throughout the list enormous buying
movement in almost every important railway
share listed. In the two hours OF trading total
dealings amounted 1.150O00 shares.
breaking all past records for a Saturdays busl-
ness The railway stocks again attracted the
chief part of the speculative attention. the In
dustrial shares being in comparatively light de-
nland from commission house traders The
pectation of good bank statement the
controlling influence IN shaping the course of
the market in the early dealings. and the pub
lication of the statement at 30 o'clock not
only fulfilled the most sangui2e predictions.
but in many particulars away ahead Of
Fridays liberal estimates. Further animation
in stocks accompanied the announcement of the
weekly bank changes although the price move
nlent exhibited considerable irreguarity in the
last half hour. owing to heavy profit taking
sales.
The changes IN bank holdings showed an in
crease IN reserve above legal requirements OF
nearly S7.e000H, while cash holdings were
heavier by nearly s6501000 as compared with
a week ago. The large increase In reserve was
due to a considerable contraction in loans. as
well as to the heavy gain in actual cash. Loans
decreased nearly S9o0Ao00 while deposits de-
creased over S2.O00,O00. The reduction In bank
liabilities in the week has been due In great
part to the lQdicatlon or loans lncioeil " the
settlement of financial operations connected
with large railway deals. In the last few weeks
a large amount of money has been released on
this account and the prospects that the
movement will continue for some time to come.
The gain in cash came from, heavy receipts or
money from out OF town centres end from pay
rnents by the Federal Treasury for govern
ment bonds bought in this city for sinking fund
purposes. The disposition Of the Secretary of
the Treasury to buy short term bonds, and the
tendency Of money at interior points remove all
fear in banking circles Of any disturbance Of
money market rates this spring. Gold exports
are probable in the course of the next few weeks
unless there should be sudden change in ex-
change market conditions. The supply OF COM
mercial bills at this centre is growing lighter,
and there is little prospect of a material in
crease at this season Of the year. Easier rates
in the exchange market are hardly likely before
June July. Gold exports, however. will not
alarm Wall Street.
The days. record breahing dealings in the
stock market were not accompanied by any new
developments affecting the general situation.
There nothing novel in the days news, and
the ordinary Street reports possessed little
significance. An active speculation report
ed IN the London market in American securities.
especially in ST. Paul stock. in which large
short interest discovered. In the local mar
kets st. Paul made a further sensational ad-
&c 1c97A, net gain for the day Of G3.
points There were also extensive advances in
Union Pacific. Southern Railway. Norfolk and
Western. Rock Island, Denver g. Rio Grande
preferred and Chicago and Eastern Illinois. The
advance in the latter named stock amounted to
over ii per cent buying coming from interests
Well informed regarding the property. In the
industrial list fluctuations in prices were not i'm
portant except in Amalgamated Copper and
Colorado Fuel and Iron. Comparatively light
movements Were noted In the steel stocks and
rule the industrial list inclined toward
lower prices. Street gossip connected the
strength Of st. Paul AMI Union Pacific with the
possibility OF deal between the two companies
similar to the deal between Burlington and
Northern Pacific. Stocks representing the last
named companies among the few excep-
tions in the railway list TO the advancing tend
ency. Interest IN these two issues has subs!ded
owing 10 the practical completion Of the deal
between the two companies.
The usual weekly table OF price changes for the
more active stocks follows: