New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-03-22
BONDS
THE DAYS OPERATIONS IN STOCKS

While there was some irrcGularity in the
course Of stocks yesterday. the general tendency
was toward a higher level Some important
gains We're accomplished. whereas there were
few losses Of any account. The volume Of trad
ing was increased. and sentiment on the market
as 2 whole was improved. While rates for
money were firmly maintained. no difficulty was
experienced by borrowers in obtaining accom-
mediation The known movements OF money IN
the week indicated a gain Of a few hundred
thousand dollars h. the banks, but there never
theless WAS an idea that the bank statement
might show a moderate loss IN cash. II was
thought however. that "A contraction in loans
with a corresponding decrease in deposits. would
produce an increase in the surplus reserve. If
this proves to be the case the statement Will
be designated as favorable. or, at any rate, as
not unfavoralle. since the banks viii have on
hand cash in excess Of the legal requirement.
The outlook, nevertheless. is for higher rates
for money in the coming week. The interior
movement Of currency is and viii continue for
the present 10 he. considerably against New
York 1t was only bond purchases by the gov
eminent I'm the last week that prevented the
hanks from losing money 10 the Sub-Treasury.
The banks gained considerably less than 5000,
600 from thu Sub-Treasury, whereas the Sub
Treasury paid out S5,294, 400 for bonds pur-
chased by the government. Therefore, had it
NOT been Tor the bond purchases the actual cash
situation would have been materially altered
The buying Of bonds has now been suspended
ard. therefore. a means of drawing money from
the Treasury hitherto available is cut off. How
ever. there is no occasion for apprehension
The money market has been regulated with
great skill up TO this time and there is not
much doubt that the regulation of it in the
future will he equally skilful. 1t IS said that
arrangements have already been perfected for
the April interest and other disbursements
Sugar Refining led the list in the dealings on
the Stock Exchange, and substantial addition
made in its price. The stock was bought on
the prospect for early action on the Cuban
tariff. and on the materially improved state Of
the sugar trade. The season of largest con-
Sumptive demand for refined sugar is not far
OF. and refineTs are accommodating stocks Of
sugar in preparation for il. The expectation is
refined sugar Will prevail to make the season q
very profitable one for the refIneTs. There was
again heavy business in Colorado Fuel and
Iron. as there likewise was in the company $
debenture bonds in the outside market. but there
were slight declines in the prices OF both the
stock and the bonds The question Of the con-
troll Of the company is still undecided. The
transactions in Tennessee Coal and Iron We're Of
good proportions. but eVentuated in only a frac-
tional difference in the price The dealings in
Analgamated Copper were not large. and the
fluctuations in the stock were moderate. There
was a sharp rise in Rock Island. and IL was
said that the shorts in il had been COrnered.
The understanding is that t1E conpany's stock
IS be doubled. ST. Paul was freely bought
and moved up in price There revival Of
trading in Union Pacific, and ii effected en-
hancement in the price Of the stock.