New-York tribune., 1902-04-12
BONDS.
THE DAYS OPERATIONS IN STOCKS

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Assurance that there would be no corner In
louisville and Nashville stock served 10
strengthen prices and sentiment in yesterdays
market The security named was again an ac-
tive strong feature covering a range OF nearly
G roints with however, the closing only little
ever A point above Thursdays last quotation
There are not many people in the street WHO
know the actual cause for the sudden move
rnent in Louisville stock, but the majority OF
operators are satisfied that the advance is war
ranted by the intrinsic worth Of the investment
while il is generally believed that still hlgher
ouota1ions will be recorded. The rise in Louis
willie and a sharp advance in Amalgamateo We're
the leading features in the day, although buy
ing Of ST. Paul. Canadian Pacific, Union Pa
cifc. Southern Railway, Southern Pacific and
Pennsylvania on a fairly active scale supplied
an opportunity for speculative gossip The news
of the day was without important effect on
prices Speculative attention was more inclined
toward the movements of important market In
terests than toward crop reports, railway earn
fngs and other factors which supposed TO
influence the course Of values In the bond mar
ket further heavy buying was reported in a
number Of issues. including the Wabash deben-
ture Bs and the Central of Georgia incomes.
As a rule prices closed near the best of the day,
at net gains in the greater numpe- Of shares.
The governments report Of crop conditions as
Of April l. while showing percentage Of 1S.1
for winter wheat, against 81 at the same time
a year ago, favorably received in Wall
Street circles In 1901 there bumper
winter wheat crop. and a lighter yield this year
will therefore not be Of adverse significance
unless ali other crops fall well below the total
yield Of a year ago According TO estimates
based on the crop report, the yield of winter
wheat should be in the neighborhood of 416, ,000,
the -haro NJ he
next two months may make radical changes in
conditions and it is therefore hardly wise to
count on predictions based April reports.
Expectations, however, in the agricultural COM
munity that the present year Will return
bountiful harvests. II this proves to be the
case the Western railroads VIII enjoy greater
prosperity than recorded in 1901, but even if the
crops should be small the movement Of general
merchandise should at present, be heavy
enough to prevent any falling off in earnings.
The railroads are carrying only small amount
Of grain and there is little prospect of an in
crease for a long time to come. Earnings, how
ever, are enormous in all parts Of the country,
the grain roads in particular showing extremely
gratifying results
The decline in grain traffic is reflected in the
statemen. Of domestic exports for March issued
yesterday Compared with the corresponding
month year ago there was decline in value
of SIS 100 591 of which S, ,955, 524 was in bread
stuffs Exports OF cotton We're nearly S1000ooo
in value under the shipments OF March, 19ol
From July / domestic exports have declined in
value 500 S(iS, 19S from the same time last year,
while including general merchandise there has
also been decline as shown by official records.
The complete statement for March viii be issued
next Tuesday, and comparison Will be made with
q month in which. with the exception Of March,
1900 exports We're larger than in any March on
record. Exports Of general merchandise are
running we'll ahead OF imports, despite the In
crease in the latter, but there are so many
factors offsetting the favorable trade balance
that the country has not heavy credit account
abroad Foreign exchange rates do not favor
syoid exports at present, while foreign money
conditions are apparently in position that
does not call for imports Of the metal from the
United States According the known move
rnent of money this week the local banks have
made a slight gain in cash resources, notwith-
standing the loss on Sub-Trcasury transactions