New-York tribune., 1902-08-03
BONDS.
Sex interest.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN SIoChS'
Dealings in stocks We're extremely limited, ana
with the exception of the trading in Atchison'
Manhattan, Rock Island. Pennsylvania. Pressed
Steel Car St Louis and San Francisco, South
ern Pacific and Southern Railway. there was no
business OF Importance AS a rule. prices were
irregular. with more net losses than gains at
the close. Traders expectations of an unfavor-
able bank statement fulfilled. reserve
above legal requirements declined S1,764.275 to
Sl3 13S 125 Cash declined $500 200, against
8 decrease Of over 100000 estimated on
Friday from the known movement Of money in
the week. Loans increased S6.377.1o0. and de-
posits increased S5.04S.3O0. Small offerings Of
stocks were made on the strength Of the poor
showing by the banks. but there was no i'm
portant selling. Manhattan enjoyed fractional
gain to 49, and Brooklyn Rapid Transit scored
q slight Improvement Pennsylvania. Chesa-
peake and Ohio and most of the other soft coal
ers reacted fractionaIy. and Illinois Central
showed the effect OF moderate selling. presumed
to be for Western account. in an extreme decline
OF nearly a point. which followed by
feeble recovery. Rock Island. after early re-
cession. moved up again and established an un-
important fractional gain. although closing un-
der Fridays last price. In the specialties,
Pressed Steel Car rose an extreme 1l2 per cent,
and Evansville and Terre Haute advanced near
ly point. The publication Of the report Of the
Republic Iron and Steel Company for the half
year, showing surplus Of S603,2l1 after divi-
dends on the preferred. stimulated slight i'm
provement in the stock.
The London market was closed. Last quota
tions showed as a rule. fractional changes from
Friday. and final dealings were insignificant.
The Pennsylvania Railroad draws its traffic
from many industries. and its earnings are
therefore an excellent indication Of trade condi
tons For the month Of June total earn
ings Of all lines showed increase Of S1,fU9.!F0
in gross, and increase Of S730200 in net For
the first six months Of the year gross earnings
on the lines east and west of Pittsburg have
increased SS274 400 and ret earnings S2.635.-
100 as compared with the same time in 1901
Earnings this year compare with record break
ing totals of year ago, and the gains as just
given the more significant In June earn
ings were swollen by the increased shipments OF
s. soft coal but the receipts from general mer-
chandise traffic showed large percentage Of
increase Railroads throughout the country,
save in a few cases where special influences af-
fected results presented gains for June and in
almost every case large increases for the first
half of the year over the same period a year
ago The prospects for the balance of the year
are exceedingly bright especially on the roads
that traverse the grain and belt Of the
West.
Trade reports received in the week presented
few unsatisfactory features. Crop reports showed
daily improvement in the growing cereals. the
iron and steel business exhibited no weak feat
ures while the of events in the antF1ra-
cite coal fields apparently foreshadowed
speedy ending Of the strike. The strike has been
e serious factor far the earnings of the
anthracite properties are concerned but ii has
failed to make important impression bust
ness in general. 1t doubtless checked to some
extent pig iron production in June. but despite
It's influence this market the total production
of pig iron amounted to SSGS,514 tons as against
I.614.613 tons in the corresponding time in 1901.
The iron and steel market is crowded with or
ders. and immediate delivery is something hard
to accomplish. II is estimated that 1.0o0.000
tons of rails have already been ordered for de-
livery in 1903 while il is predicted that last
years record of 2.S00000 tons will be exceeded
in 1903 Buyers confident that industrial
prosperity will continue for another year at
least. and no better evidence of this confidence
can be found than in the position of the iron
and steel market.
THE DAYS OPERATIONS IN BONDS
GOVERNMENT BONDs-Market steady Final