New-York tribune., 1902-04-06
BONDS.
THE DAYS OPERATIONS IN STOCKS

THE DAY ) OPERAIloNS IN
A heavy decrease in bank resources was re-
ported in yesterdays bank statement put the
stock market was not materially anecteo- ballh
conditions are better than shown by the state
,oent Of averages and no we'll informed banker
is worrying over the low condition OF iesei
above legal requirements as figured by the
Clearing House. There is plenty OF money III
the country Low reserves here will doubtless
nrevent gold exports to Europe, while any ad-
vance in money rates will attract funds from
outside sources Money in the country on April
j amounted to s.. .252, ,o41.35l, exclusive OF
Treasury holdings increase Of so4'ooo'''s
as compared with the same time year ago
The surprising feature Of last weeks pdHh
statement was an increase in loans OF so'l4o''oo-
Cash holdings showed larger decrease thah
foreshadowed by preliminary estimates ana
as a result Of all changes surplus reserve oe-
creased S4.316.050. to S2649525 This compares
with S5S179T5 at this time year ago ana
81 904. 500 in 1900
The bank statement served to reduce specula-
tive activity. but prices showed only srnah re-
oassions from earlier advances There was
eood demand for q number of issues. and in the
first hour Of trading many substantial gains
were made Santa Fe common was taken by
rood class of traders: also preferred, St Paul,
Southern Railway Louisville and Nashville ana
Pennsylvania Activity in the Santa Fe secur-
tiles is predicted. and higher prices are expect
ed by people who well Informed regarding
the property. 1t is necessary TO take trip over
the Santa Fe road to realize the magnitude OF
the property, its splendid physical condition ana
great improvement work now under way. and
the enormous volume Of business moving over
the cornpanv's lines. The Atchison, Topeka and
Santa Fe is spending money on its property IN
the interests of the stockholders. 1t is building
rn a section of the country that formerly was
little more than desert land and ii is laying a
foundation for business that should always IN
sure the payment of its large interest and dlVi-
dead obligations. So much has been written
about the Santa Fe system by people who nave
never made a personal examination or the ROAD
that 1t is a pleasure record facts that are
hased on careful survey of the financial and
physical position of the property.
In the industrial list transactions were light,
but in a number of shares good buying was re
ported. American Grass Twine was again
taken at advancing prices. and the character OF
the buying suggested a much higher price for
the stock The company's earnings and pros
poets certainly warrant a better price for Its
securities Colorado Fuel and Iron after declin-
ing ] per cent recovered the loss. Sugar Re
hniug was fractionally lower on reported oppo-
sttion in the Senate TO the House bill establish
ing tariff reciprocity with Cuba. Amalgarnated
Copper was slightly higher, but Anaconda was
weak New-York Dock issues were reactionary'
but strength was shown by Westinghouse. Gen
eral Electric Union Bag and Paper issues, and
some Of the specialties. The market closed
STEADY.
The usual weekly table Of price changes for the
active stocks follows: