New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-05
BONDS.
THE DAYS OPERATIONS IN STOCKS

Strength and activity marked the course OF
stock market trading yesterday. The Noioine
Of business was heavier than on any preceuli1S
dav this year. while the course OF prices III
dicated the presence in the street 81 subslah'iaI
sneculative interests. Buying of the high grace
railway shares again a feature IN 81
T,aul an aggregate Of 10000 shares was re
ported at prices ranging 1rom loNi2 10 H.
-,,b the closing at a net gain of over one point
Heavy profit taking sales in THIS STOCK anu
,broupbou- the list we're responsible for re-
actions at the end. although final prices were as
q rule we'll above Thursdays last quotations
.c-;,i+z. in ST Paul vas accompanied by re
,,or+s If some new railway merger, but the
Street in general placed little confidence IN the
talk the idea in most quarters favoring the
suggestion that st. PauTs activity was due 10
1nuving based on Mr.. Morsans recent statement
regarding the efforts of the Northern PACING
Great Northern interests to secure the property
The hroad ening tendency of yesterdays market
WIS reflected in the activity in about every
variety Of issues. including industrial shares
and so-called railway sDecialues Declines.
,,.,er made were unimportant, the only note
worthy exception being Colorado Fuel and Iron
which lost a point. The bond market was ex-
ceedingly active total sales amounting in par
value 10 over 100000. Total sales of stocks
were ]. O96 9o3 shares.
Efforts have been made in recent weeks TO
hiring about a decidedly lower level Of values
I'm the stock market Aggressive work in this
direction by certain speculative interests hass
however. been without important erect on
r,rfoes or sentiment and at the present time the
course Of the market suggests that the inter
-sts in question have abandoned their campaign
md are engaged on the bull side Of speculation.
orices did not decline because stocks We're in
Ian aa1,l,.
o good reason for parting with their securities,
While on all reactions wealthy buyers were in
lined TO secure attractive bargains. TIE
.trength of the market. in the face of many
so-caIlcd unfavorable factors has surprised
n any narrow minded operators. hut 1t has not
b, en- a cause of wonder To the great investment
interests of the country. The foundations OH
wi i,h the actual values Of securities lie are
str,nger to-day than they were year ago.
evi lence Of which ma: be obtained from trade
sta istics and from personal observation of the
country's various industries. a widespread crop
failure this year would of course. upset certain
sections OF the country, but all preliminary es-
Inmates of the years harvest are encouraging,
opinions being based the present excellent
condition of the ground and the favorable prog
ress of winter wheat.
The Western farm country is in splendid
financial condition. while the position Of gen
eral industries in the West and Southwest is
better than ever before recorded. The Western
railroads are handling an enormous volume OF
traffic and in spite of the fact that the corn
roads are carrying little of this cereal. earnings
show surprising gains People who have not
been in the West or Southwest in recent years
find IL difficult to realize that prosperity is so
general in that part of the country. Ten years
ago many of the Western railroads presented
worn out rails and rotten ties. antique rolling
stock and little freight To-day the Western
roaos are in good physical condition. with more
business than they can handle The condition
of the Western and Southwestern railroads is
a faithful reflection OF the prevailing industrial
prosperity throughout the country Many rail-
road stocks have doubtless measured this pros
perity. but there is still large number of is
sues selling under actual worth In the in
dustrial list values are generally under the real
worth of the securities.
According to the known movement of money
in the week. the local banks have lost "A con-
siderable amount Of cash, but il is thought that
liabilities have been sufficiently contracted TO
offset the influence of the decline in cash
serves. The action Of the money market in
dicates no coming important advance in rates.
Gold shipments may be made before long. hut
the country is rich enough to spare the metal
In the current week the banks have gained
operations with the interior. but the loss TO the
Sub-Treasury aggregates an amount large
enough 10 cause a net loss TO the banks on all
accounts OF more than 100000. April dis
bursements by the Treasury will not figure TO
any extent in the weeks bank statement
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BoNDs.-Marker steady. Frna,
quotations follow: