New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-09
BONDS.
THE DAYS OPERATIONS IN STOCKS.

martial relaxation in the money market and
an easier tendency in foreign exchange We're
responsible for stock market Improvement IN
yesterdays trading. Prices were eenerahy
strong throughout the day, with net gains IN
The greater number Of issues at the close. Early
London prices were higher. and this fact' TO-
eether with A fair outside demand for securi-
ties. led % many sharp advances in the fore
noon dealings. The so-called speculative lead
ers were apparentIv working the long side or
-he market while in a number Of shares in
ves4uoent buying was reported Noteworthy I'M
movement was made by Louisville and Nash
VILE which enjoyed a maximum advance OF
over points. The upward movement IN this
security was evidently based on buying for the
account of people who are well Informed re
sarding the affairs Of the company, and posi-
bly on the general conviction in the Street that
the company has already sold in the market
the treasury stock which the directors or the
road recently decided to issue. Louisville and
Nashville is not dear at its current price, ana
the chances are that investors will buy the
stock when ii is selling many points above the
prevailing level The property is in excellent
physical condition, its financial position is sound
and its prospects for heavy business in the next
few years are exceedingly bright.
Further active buying was reported in the
Gould stocks most Of which sold well above
the preceding days closing quotations. Mis-
souri, Pacific advanced nearly points, while
St Louis, Southwestern, Texas and Pacific and
the Wabash shares all recorded marked price
Improvement The Denver and Rio Grande
stocks which are nov classed as Gould securi-
ties. were also strong features throughout the
day The Gould properties are worth the at
tention of investors. The country through
which the various Gould roads has grown
up TO the mileage Of the companies, and as a
consequence. the volume Of traffic is rapidly in
creasing with every prospect Of further gains
In the course OF the next few years. Industrial
development in the Southwest has been marked
in the last two years, and the Gould roads are
benefting accordingly. 1t is interesting TO note
that under the able management Of George j
Gould both the Missouri Pacific and the Texas
and PACING have become representative rail-
way systems In recent years d large amount
OF money has been put into the physical better
lnent of both the Missouri Pacific and the Texas
and Pacific especial attention having been paid
TO the reduction of grades and the elimination OF
curves. Texas and PacIhc stock may prove a
good security to hold for higher prices. Among
the cheap priced stocks strength was shown by
Duluth, South Shore and Atlantic, Southern
Railway common and Chicago Terminal In
the industrial list Colorado Fuel and Iron was
again active over a range of 3 points, while
Amalgamated Copper, after an early decline, ad-
vanced points and then lost its gain before
the close on small transactions Westinghouse
stock sold up AZ points, ending with q net
gain of over l. points.
Call money rates were not higher than 612
per cent while the greater part Of the business
in the money market was transacted at a lower
rate The reduction in bank reserves last week
has brought forth large offerings Of money by
the local trust companies. No stringency is e1-
pected In the money market, and il is not
thought that gold exports viii reach important
totals The decline IN exchange rates yesterday
apparently preciudes the possibility of further
shipments Of the metal this week. The banks
have lost so far this week operations with
the Sub-Treasury, but the movement Of cur
rency from out Of town has been in their favor.
THE DAYS OPERATIONS IN BONDS.
1onNF0C Es,aI