New-York tribune., 1901-06-22
'Ex dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

After two or three days OF listlessness the
stock market yesterday experienced a revival
of activity and closed firm, with net gains IN
most of the issues. The initial stimulus was
given by the published reaffirmation, declared
TO be ION absolute authority that a syndicate
which recently sold n large block of St Paul
stock amounting TO about S23.oooeoo par value.
had agreed to take large amount OF Union
Pacific common: this arrangement being natu-
rally taken as indicative of the extension TO the
St Paul road of the Community OF interest
policy. Facts accumulated. too, TO strengthen
the belief that the bank statement to-day
would be materially more favorable than was
last SATURDAYS in spite OF the gold exports Of
nearly S5oOO0O0. Another bullish factor was
the news that the Pennsylvania Railroad Com
pany had within the last week paid in large
part the loans, amounting to about S20oUooc0
or Sol 900 600. which il had contracted for the
purchase OF stock in the Baltimore and
Ohio, the Long Island, and other roads in
which II has within the last year or
so acquired an interest. Wheat broke sharply
in price the movement rejecting the expert
opinion of the trade that the harvests would be
very large-a condition making for the continu-
ance of prosperity in general and of large rail-
road earnings in particular. From Washington
came predictions that the export trade OF the
United States for the fiscal year ending week
hence would probably reach 81 500 100000 in vol
ume. establishing a new high record.
Union Pacific opened yesterday at 1lO&, 4 per
cent under Thursdays close. 1t rose to ia
and closed at 1137s, a net gain for the day OF
27s per cent. St. Paul closed IL points under
the highest price OF the day. at 119, which was
q per cent above Thursdays closing figure.
Missouri Pacific a strong feature. advanc-
ing 2i4 points net on revived rumors that an
early announcement Of the Southwestern con-
solidation plans might be looked for. Southern
Pacific advanced with Union Pacific. the close
60s4, being at the high level Of the day and is
points above the preceding days close. Colorado
Fuel and Iron developed staying powers, closing
with net gain OF points. at 115A, after
having gone high as lis; although nothing
came to light to the outlook for the absorp-
tion Of the company by the United States Steel
Corporation. The report that Illinois Central
would lease the Minneapolis and 81. Louis was
denied by the presidents of both roads. but the
stocks showed no net declines. Peoples Gas
once more gave an exhibition of strength, rising
TO 120h. and closing with a net gain OF IL
points at 1197s. General Electric, which moves
in strides moved downward points yesterday
on transactions of only 1000 shares The Erie
and Reading issues were firm all advancing
fractionally except Reading second preferred
which declined " per cent. Wabash was notice.
ably strong, both the stock and bond issues
The common stock made net advance Of 11s
per cent and the preferred of per cent: while
the second , per cent bonds advanced from 112
at the opening TO ia at the close, and the
debenture BIS from 6412 TO 6SA. The Union Pa
cific convertible 4 per cent bonds. which keep
pace pretty closely with the common stock
opened at 1121A and closed at 114aa. Net gains
were scored yesterday. Thursday, by all
the Central Of Georgia railway bond issues