New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-06-11
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock market trading was dull and uninterest-
ing although transactions We're considera bly,
heavier than on Monday. Prices were generally
firm with small net gains in the greater num-
Der Of issues at the close. There note
worthy Increase in the dealings in Southern
Railway common stock at advancing prices, and
fit was said that the so-called Gates crowd was
accommodating this security Southern Railway is
certainly not being bought on the expectation of
en- immediate dividend, as earnings at present
are only at the rate of little more than l per
cent after the per cent the preferred.
Later in its history, however, Southern Railway
common will doubtless be in the dividend col
un1n, each year the road increases its traffic,
while each year the territory through which 1t
runs enjoys industrial expansion. Southern Rail
way preferred. which pays = per cent and sells
points under par, is, of course relatively much
cheaper than the common. Indeed. it is one of
the best investment propositions in the railway
list. Atchison preferred is also a sound invest
r1lent selling under its intrinsic worth. Fair
buying both of the preferred and common. was
noted in yesterdays market. Elsewhere in the
railway list the active features were Canadian
Pacific St Paul Erie, Manhattan. Missouri
Pacific, Chicago Great Western, Union Pacific
and Reading. Despite reports to the contrary,
Wall Street believes that secret efforts max
ing to end the coal strike, and conse-
quence few operators are carrying important
short lines in the coal shares. In Reading COM
mon there was a fair advance yesterday, while
the various coal road issues were strong. North
west stocks enjoyed marked Improvement On
dealings Of 100 shares International Power ad
vanced 20 points. The Steel shares and United
States Leather issues Were active features, and
further accumulation of American Grass Irvine
was reported. 1t is understood that insiders
are active buyers OF the last named stock. Car
and Foundry common was actively dealt in.
The government crop report not issued
until after the close of business, but expecta-
ton Of a favorable showing was the chief factor
in the days dull but generally firm. market
An operator who has just returned from the
crop section of the country confirms the state
nents frequently Nude IN this column regarding
year. Newspaper dispatches from the West re-
port unusually fine weather conditions in the
wheat and corn belt and 1t is believed that
these conditions are giving the grain start
that will make It impervious damage, save
in the case Of the most extraordinary heat and
dry weather in July and August. Railroad man
ayers preparing 10 handle a large volume Of
traffic this summer. New equipment is now
: being delivered while orders for more cars are
accunlulatirr fast the books of the car build
ing compa - The railroads of the country are
proceeding on the theory that industrial &C
tivity will run on for a long time 10 come. The
men who control the American railroads and the
actual traffic managers are level headed, hard
thinking business men, ana their ideas on the
future of business are worthy of careful at
tention.