New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-06-27
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The weakness that developed in yesterday s
market was not accompanied by any important
liouidation Commission house business was
light and in the absence Of an active demand
for stocks traders were able TO depress prices
throughout the list Efforts to create general
hear sentiment on the money market outlook
were diligently made. but the volume OF business
in stocks reflected no extensive response from
the public and none at all from substantial mar
lxef interests In some tinid circles the develop
nents in. connection with the bank troubles Of
Tuesday tended to encourage the sale of securl-
ties Selling of this character merely resulted
in the transfer OF stocks to stronger hands, and
afforded careful buyers an opportunity Of pick
ing I'D valuable issues al substantial recessons
from the high prices Of the year. Net declines
for the day were not heavy. In a number OF ac-
tive stocks comparative strength was shown
Brooklyn Rapid Transit. Metropolitan. Anal
gamated Copper, American Car and Foundry
and Sugar Refining beng notable examples OF
this tendency. Traders looked for soft spots
throughout the day, and many stop orders were
caught.
In the industrial department the United
States Steel shares were in fair demand on divi-
dend expectations. The dividends on the COM
mon and preferred stocks will be declared this
month. but It is possible that the payment on
the common will not take place until a few
weeks after the preferred has been disposed Of.
This viii be due most likely 10 the fact that the
payment OF both dividends at the same time
would involve more work than the ordinary cleri-
cal force could handle Much higher quotations
are looked for in the steel stocks, with the ex-
ception perhaps of Colorado Fuel and Iron and
Tennessee Coal ana Iron. and in the industrial
list in general A good demand ought to de-
velop for International Pump issues and for In
ternational Paper preferred. A demand has
already sprung up for Car and Foundry issues.
which are excellent investments at going prices.
The cheapness of the industrials is well exem-
plihed in international Pump common. per
cent stock selling under Al. While many rail-
road stocks are quoted at high figures there is
stin long bargain list in the industrials and
lower priced railway shares Bear talk is being
INDUCED in at the moment in many speculative
circles, but the chances are that under cover of
such talk stocks are being accumulated for
higher prices. The prediction is therefore made
that barring adverse developments in trade and
finance. there win be another big bull market
before many months go by.
Call money was quoted from AZ to 5 Der cent
with the bulk of the business at sac per cent
The higher money rates here were reflected in a
). decline in sterling exchange and il was believed
in banking circles that any extended or protracted
NJ advance in money would result In gold Imports
~ J. is quite likely that many loans viii be called
this week in preparation for the july disburse-
ments but the general condition of the money
market is not alarming or significant Of adverse
oonaltlons 60 50 far this week the banks have
lost over A2,5OO0DO % the Sub-Treasury Time
money is inactive; also commercial paper
The stock market closed dull without feature
Lotal dealings were under $4,000 shares with
me heaviest transactions in Sugar Refining At
cnlson, Brooklyn Rapid Transit St Paul Erie
Mammalian. PENNSYLVANIA. Southern Pacific
Union Pacific and the steel shares
THE nAVc Opr-D Arro>-e - 1890