New-York tribune., 1901-05-28
BONDS.
TIE DAYS OPERATIONS IN STOCKS

Trading in stocks was made up in great part
OF the transactions of professional operators
Activity was confined to the leading speculative
issues, while price fluctuations were insignifi-
cant and without important final changes As a
rule last quotations were at small net losses as
compared with Saturdays closing level Com
mission business was light. most houses report
ing total lack Of interest the part Of their
customers and a disposition among all classes
Of traders TO confine operations when made TO
the smallest kind Of deals for quick turns. The
London market was closed and a conse-
ouence arbitrage houses were without orders.
This fact however, was not an important inf1u-
ence in the local market, as the New-York Stock
Exchange ceased long ago TO shape its course
Of values on the attitude Of foreign spectators
and investors. Current dealings in stocks re-
feet the absence Of the public, but the firmness
displayed by values indicates underlying
strength in the market, a scarcity of stocks
available for speculation and a satisfactory con-
dition Of affairs governing the actual work OF
securities. There is nothing in the current situ-
alton chat suggests the sale OF good investments.
But, of course, there is good reason for not ex-
pecting a resumption Of bull activity at present.
The large gain in bank holdings last week has
materially improved the money market position
at this centre A fairly active money market is
looked for throughout the summer, but all indi-
cations now point toward a long period Of easy
rates. No gold was engaged for export yester-
day. although in foreign banking houses il was
thought that shipments would be made by
Thursdays steamers. while predictions put
out that at least S5.000.0 600 more would be
ported before the current movement reaches its
limit With a reserve above legal requirements
OF over S21.000000 the local banks easily
spare the amount named, and if more should
he s5A6 10 cap
be secured in this market without any appre-
ciable effect upon the large gold supply in this
country. The gold holdings Of the United States
are rapidly increasing 1t is estimated that the
Klondike production for the last year will
amount TO S300o0,o00. most Of which Will be de-
posted in this country while the Western mines
are expected to make bigger yield than ever
before recorded. And, IN addition, receipts on
the Pacific Coast from Australia continue. In
creasing supplies Of money offset increased Sc
curity issues. The growth of capital has forced
the creation of new securities and people who
are now holding UP warning hands because
there are more securities listed and unlisted to-
day than ever before known forget that the
issues have the growth and development of a
big and prosperous country behind them
Total dealings in stocks amounted to only
BLISS shares. Of which the greater part was
supplied by American Tobacco, Union Pacific.
Atchison. Erie. ST. Paul Wabash, American
Sugar, Continental Tobacco. United States
Leather and the Steel shares. The Tobacco
Shares were again extremely active but there
was no news regarding the companies. Della
ware, Lackawanna and Western advanced Z
points. and Delaware and Hudson was also a
strong feature. The general course Of values
was without significance The closing was
above the best prices Of the day