New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-03-06
BONDS
THE DAYS OPERATIONS N STOCKS.

The stock market yesterday moved in an IN
certain way until toward the close when buy
ing on a liberal scale set in. and prices improved
materially. The betterment in the market was
brought about by an advance in sterling
change at Paris in consequence of which it was
announced, some Of the intended shipments of
gold from New-York to Paris would most likely
be cancelled. Another thing from which the
market derived benefit was the information that
the remittance to San Francisco on account of
the street railway combination in that city,
which is being financed in New-York would be
made in exchange. or in other words. by a
transfer of credits. Therefore. the San Fran
cisco operation will not take away money from
New-York, as was at one time feared. and will
not have the effect Of disturbing money rates.
It was at first understood to be the intention TO
take the required cash out of the banks here
and deposit it in the Sub-Treasury, whereupon
an order would be issued by the United States
Treasurer for the delivery of the money by the
Sub-Treasury in San Francisco 10 the proper
parties. There would. anyway, have been no
moving Of money across the continent. but the
available supply Of funds at this centre would
have been reduced just the same by withdraw
ing the money from the banks and locking it up
in the Sub-TFeasury.
The flow Of gold to Paris has been the means
Of tightening rates for money. but not enough
TO interfere with speculation in Wall Street. II
is probable that the appearance Of signs of
an expectation Of gold in any great amount, the
rates for money would promptly advance with
the double effect Of stopping the cutgo Of gold
and drawing currency 10 New-York from the in
terror. There is, seemingly, not much reason to
look for a serious disturbance in money in any
circumstances. Money may not remain entirely
easy throughout the spring but anything like
real stringency in ii appears ont Of the question
Not before June viii there be any important
extra domestic requirement for money. In that
month money will be accumulated for the July
] interest and other payments, and rates, it is
presumed, viii temporarily be higher. From
on the crop reports ought naturally to have
a greater influence than anything else on stock
values
In extent OF dealings Colorado and Southern
led the list. All three classes of stock made a
substantial gain in price. While, perhaps the
movement in these stocks is largely speculative
there is not much room for doubt that deal
In the property is under way. The liquidation
In Missouri Pacific continued, but in spite Of II
the stock picked up in price. 1t is the general
belief that a scheme of magnitude in which the
Missouri Pacific road viii figure most prom
inently has been matured, and will before very
long be made public. Chicago and Northwest
srn was again in request and substantial ad-
dition TO its price was made. There are intima-
lions that the absorption Of Chicago and North
for a conversion plan, but as to this there is
authentic knowledge. AmaIgamated Copper
was pressed for sale In some quarters II was
thought TO be a question 10 whether divi-
dend would be declared or passed by the direc-
tors OF the company at their meeting on March
20 The United States Steel stocks were firm,
but not specially active.
THE DAYS OPERATIONS IN BONDS.