New-York tribune., 1902-07-08
BONDS.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN STOCKS.
There was a fair demand for stocks in yes
.erday's market, and as consequence prices
were firm throughout the day. with net gains in
most issues at the close. While the volume of
business did not reach extensive proportions
1t showed. nevertheless an expanding tendency
and increased interest from pools and commits
sion house traders. The fact that nothing hap
pened over the holidays to disturb business con-
ditions, together with extremely favorable rail-
road earnings and improving crop prospects
served 10 strengthen bull confidence in the
market and induced more liberal purchases by
the so-caIled public The standard railroad
shares were actively bought by an excellent
class of buyers. while the industrials, save the
Steel Shares and Sugar were neglected Louis
vile and Nashville ST. Paul. Illinois Cen
trail. Pennsylvania. Missouri Pacific, Southern
Pacific. Atchison and Union Pacific were lead
ing active features that ruled strong throughout
the day Rock Island enjoyed a maximum ad-
vance of over points. the rise being attributed
TO the influence of the stock subscription priv
fege available to stockholders Illinois
Central apparently bought for investment
account; also Louisville and Nashville and St
Paul The advance in Des Moines and Fort
Dodge was accompanied by reports that control
Of the property might pass to new interests
In the Industrial list the United States Steel
shares and Sugar we're heavy at fractional
losses. while elsewhere prices were generally
firm on small volume of business
Notwithstanding light movement of grain to
market the Western railroads report a heavy
volume of traffic in both directions with pros
for lar
come Traffic receipts for the last week in June
show surprising results as compared with the
corresponding time a year ago. This is espe-
cially pronounced on the Southern and South
western roads, Southern Railway for instance
presenting gain of S1O6061 while Central Of
Georgia and Mobile and Ohio. controlled by the
Southern, report gains OF S266SS and $40 107
respectively Norfolk and Westerns earnings
were S11S,224 better than year ago Louis
willie and Nashville shows an increase of Sis
O3O. and Missouri Pacific an increase Of $50 900
Business conditions along the Southern and
Southwestern roads have never been in a bet-
ter position than they are at present, and in
deed the same may be said of the situation
throughout the country's entire railway terri
tory. Reports from officers Of the ST Paul
Burlington and Chicago and Northwestern roads
are enthusiastic over the outlook for further
expansion in earnings and for bountiful
harvests
The recent rains were made to do service for
speculators in corn and wheat on the theory
that excessive moisture had worked tremendous
injury 10 the growing crops. Apparently the
speculative movement in grain is not yet over
rs In yesterdays market went to its high
est price since 1898 1t is now conceded how
ever, that the present supply of corn and the
prospects for this years crop have not as much
TO do with the high price of the cereal as has
the manipulation of a powerful group of mill
tonaire spectators I'm the Chicago market Re
ports received yesterday from the crop terri
tory were in the main favorable If the crops
turn out well this year the railroads will have
more business than they can comforts bly
handle, despite the larger increase in equipment
on the various lines in the last year Orders for
new cars and locomotives are increasing and
equipment companies have enough work under
contract TO keep them busy for a year or
more
Call money ruled at per cent yesterday
with exceptions at AZ and per cent For
eign exchange market conditions favored gold
exports this week, and ii was thought that
small amount Of the metal might go out on
Thursday. The local bank. are now shippine
currency 10 New Orleans.