New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-20
THE DAYS OPERATIONS IN STOCKS,

Stock market values were strong 'hroue iiou'
tbe TWO hours OF trading on an enormous Noluii'
Of business. Dealings were heavier thah on Oil
Saturday since last September, while the ulS',
h57+ion Of business reflected the presence IN 'iie
,,orl,a+ Of a large public buying demand Al
though realizing sales were heavy hndl Pi -
showed many substantial net advances win
-. . en- ,,,,,,or-ant net declines. A decline In
c. 1safni,g stock was Of course, due to sell
,ry irduced by the passage Of the Cuban Dill IN
Congress abolishing the differential from reIieu
smear General Electric sold off on the Iaooi
troubles at the conpanys works whlle 'ou'hei !,
Railway and Louisville and NashVlIIe reae
1nder the influence Of profit taxing oPeia LUIS
Elsewhere in the active list prices moved hlsfi
and predictions We're freely made that the Jun
movement would run into the current "eeN
with even greater force. The strength IN INC
last half hour was helped by an Unexpectedly
favorable bank statement, ana bv 'i'oI
buying by bull pools and cliques-
In en3+e of the activity in the stock market ID
+,a ,,,ael, the banks were able to reduce theh
loans nv nearly S6.o00,oo0. The reduction IN
this item doubtless indicates that the sFea'ei
na-. Of the weeks borrowing has been Done
with the local trust companies ana ouIslue jam
,ny institutions 1t also indicates, no DOUBT
that the big market operators secured theh az
communication for the present movement IN So
at q
4nI 3n this city. The gain in cash holdings was
less than the estimates based on the Know
movement of money, amounting to only Sooo'lVo'
The decrease in liabilities, however, with the
.oin in cash caused an increase OF S2eooSVo ID
resar1e above legal requirements This Item
now stands at S6,57S65o. against Sl4'S-Z'l oo al
this time a year ago, and Sl4SS4'ooo IN 'he
same time IN 1900. Improving bank resources
at this centre are quite likely to encourage iui
ther operations on the long side Of Stocks "ilie
from present indications they are not apt 10 IN
6rce exports Of gold at present 1t may De wen
to bear in mind, however, that the country IS
NOW in debt to Europe for money or credlts DOR
rowed, and that the continuance OF nrlh eA-
change market is probable
The heaviest dealings in securities were In the
group Of stocks that came into prominence oii
Friday. In Union Pacific, Southern RACINE
Texas and Pacific, Reading. Missouri FaciIc'
Illinois Central, Colorado Southern. Atchlsoh' d.
PAM and Canadian Pacific dealings amounted 10
over ABB 600 shares out of a total IN All ISSUES
If S55 aI6 shares. The leading interests IN Ihe
recent Louisville and Nashville and southern
pathway speculation were active in other parts
of the list including some of the cheap shares
the prices of which are below intrinsic worth
In the industrial list good buying was reported
g., American Cotton OH and American Grass
Irvine The last named issue is being ABSORBED
,,v investors, owing to the fact that the COM
nanv,s earnings and prospects warrant hlgher
nri,es for the stock In the bond market deal
~ I 800 aiso heavy especially in Union Pa
ciT7c convertible Is, Colorado Fuel ana iron con
yertible 5s, and Wabash debenture rs. 5here
was also investment buying OF the Erle-f EN- EN-
-i-,a1ia collateral As These bonds are selling
al an attractive price for the investment OF
money by conservative people The security pc
hind the bonds is gilt edged ana tIie po - 20
~ The mortgage will make il possible tor the re
,ireInant of the securities at maturity wholly
from The sinking fund. z eo- tho
active stocks folloWs: