New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-03-26
BONDS
THE DAYS OPERATIONS N STOCKS.

The stock market yesterday irregular
and IN the late trading more or less weakness
developed. There was considerable realizing in
stocks which recently had been features Of the
market Some Of it Vas said 70 have been by
pools. There was no special reason for selling
stocks, unless it the outlook for money
While the maximum rate for loans was not adj
vanced. it was a fact that money was distinctly
stiffer and the expectation was that the charge
exacted from borrowers would be higher before
the end Of the week. The monetary require
rlents for the April ! interest and other dis
bursements are not particularly heavy, hut they
viii be felt rather more than in preceding years,
perhaps, because OF the comparatively denuded
state OF the banks and other lenders Of money
ct the present time. The interior movement Of
money this week has been heavily against New
York and in addition the banks have been los
ing money 10 the Sub-Treasury. The inference
is that il will be necessary for the banks 10
contract their loans in order 70 keep their re
serves up to the legal requirements. and this in
turn may compel liquidation in the stock
market.
At the moment the matter If money is the
prime consideration in speculation, but this does
not Imply that there is anything threatening in
the situation. for there is not. The banks have
the money market under good control They
w.n be able TO supply such money as may he
needed hut they viii hardly attempt to keep
down rates Presumab bly, they Will let rates fol-
low practically their natural course, and will
ccsGrc their attention to the handling of funds
n lhe way best calculated 70 meet current
needs or in other words. 70 avoid an actual
strinEeucy in money nigh rates FOR money do
not necessarily mean a scarcity Of money. but
instead may signify activity in money, which is
actually the case just now. High rates, how
ever serve 10 restrict the demand. and in that
respect afford measure of relief. The Stock
Exchange viii he closed on both Friday and
Saturday, and il there is TO be anything akin
10 2 pinch in money il will come tomorrow,
when loans will be made to carry over until
Monday. There is not much of an inquiry for
time Money
There was again liberal buying Of Colorado
Fuel and Iron. which affected an addition to
tbs price. The question OF the control Of the
company has not been settled, buI if the con-
cern is 10 be turned over 10 the United states
Steel CORPORATION II is 10 the advantage Of the
cortendng interests in il to push up the price 20
the urpermost limit. There was not very
large business in the United States steel stocks,
which receded fraCtionally Tennessee Coal and
Iron was quiet and depressed. Amalgamated
Copper Was steady. but lack OF quorum at
Anaconda was TO have been taken caused that
stock to decline 81. Paul sold TO take
profits, but il sustained great loss in price.
The reported probability Of a revision Of the ac-
counts Of The Evansville and Terre Haute Rail
road. involving the writing of Of a portion of
its assets caused a fall I'm both classes Of its
stock The crop in the common stock was
heavy Manhattan Railway displayed strength.