New-York tribune., 1902-05-15
BONDS.


Stock market values were strong in the greater
part of the day a small volume of business.
Commission houses We're inactive There was
little disposition the part of the so-caIled
public to enter the market but in a number of
issues fairly heavy buying by some of the larger
local speculative interests reported. out
side of the coal labor situation there were no
adverse influences affecting values or sentiment,
| and even the possibility of a prolonged struggle
in the anthracite fields created no alarm in Wall
Street circles. Crop reports favorable and
money rates easier. Railroad earnings
were good. and most developments OF the day
reflected industrial strength and prosperity in
all parts of the country. Union Pacific and
Reading were the leading active features, Union
Pacific cbeing in demand for foreign account.
Wabash and Wheeling and Lake Erie issues
were strong on the progress making in the de-
velopment Of the plans in connection with the
Western Maryland Railroad purchase. other
strong features were Chicago and Eastern Hi
nois, Chicago. indianapolis and Louisville Kan
sas City southern Ann Arbor issues. Detroit
Southern preferred. Canada Southern and
Northwest Louisville and Nashville declined a
point. owing a smaller demand from the
shorts The local traction stocks We're fairly
strong. with Manhattan Railway leading In
the industrial list. Westinghouse Electric ad-
vanced sharply. and New-York Air Brake and
NIenfTdl f.leCtTlC maze material gains. sugar
Refining steader within narrow limits.
Amalgamated Copper advanced a point on bet
ter trade reports, but ended with only a srac-
tional gain Colorado Fuel and Iron was lower
on the statement Of earnings -cstcrday Viz
nia-Carolina Chemical Company preferred ad-
vanced sharply in the late dealings.
The country's foreign trade IN April was
smaller than in the same month a year ago.
owing in great part to the falling off in OK
ports Of breadstufs With the exception how
ever. Of April in the two preceding years tho
exports last month were heavier than in any
corresponding period on record Total exports
were in value S10917097f against total i'm
ports in value of So S23 So. leaving an excess
Of exports over imports to the value Of SD -
347 ISIS In the same month last year exports
exceeded imports by over li,nO00oO. For the
ten months ended April 20 total exports amount
ed i'm value Ia 81 1870. lIS.G14 against 81 2Gn
42l .S11 in the time in the year before.
the falling off being duo to the reduction in the
volume Of exports Of grain. In the time named
the excess Of exports amounted to Sl;,I.6lU 9I9
compared with S.S4. .29S.012 i'm the preceding
year Imports since July have Increased in
value SIS S392 go Heavier imports reflect in
/ creased wealth and prosperity here while the
decline in export merely represents last years
corn crop shortage in the West. Exports Of
manufactures hav" heen heavy throughout the
year There is no prospect Of a material re-
/ duction in the outward movement OF general
merchandise. while if this years harvests are
bountful export figures will doubtless run back
| to the record breaking totals Of 1900 and 1901.
Money market conditions slowly improv-
ing. and as rates decline to lower
! level gold shipments will probably he resumed.
! The easier tendency in money in the last few
! days has been due in great part to heavy offer
! ings by foreign bankers in the local market and
| to increased receipts of currency from the in
! terror. The country has been a heavy borrower
| abroad in the last year, and these operations,
/ with large investments Of American capital in
! Europe and other known factors, have offset the
! favorable trade balance and made the United
| States debtor to England and the Continent.
| There is, however nothing alarming in this
| situation, il involves developments that re-
! feet the wealth and progress Of the United
| States. Sterling exchange weak again yes
| terday under the influence of heavy offerings of
! bankers bills against sales Of stocks to London
! and loans from foreign interests. Large amounts
! of securities are being shipped to Europe. and
a good part will he carried there London
! loans for NeW-YOrk account The shipping Of
| loans from here to London is already relieving
| the local situation.
| THE DAYS OPERATIONS IN BONDS.