New-York tribune., 1902-06-13
BONDS.
THE DAYS OPERATIONS IN STOCKS

Activity in stocks was confined to few issues,
but prices until the late trading were generally
strong throughout the list Good buying OF the
Gould shares. Chicago Great Western. Kansas
City Southern and 81. Paul. was recorded. while
in a number of other stocks accumulation on
quiet scale was again noticed. The coal strike
was of course. a factor in restraining specula-
ton but il failed to exert an adverse influence
on quotations 1t was pointed out in this col
unn at the beginning Of the strike that the short
side of the market seldom proved profita hle
after the declaration of a strike. So far II may
he said that stock market values have not
moved al ali in favor OF the advocates OF lower
prices and from all appearances il is safe TO
predict that values viii continue TO move with
cut regard TO the trouble in the anthracite coal
region Prices are as high they were on
the first day Of the strike. and in some cases
they are higher The market is dull but ii is
not weak Stocks in stronger hands than
ever before recorded and there is therefore little
hope for a bear campaign at present
Railroad earnings received yesterday for the
first week in June showed remarkable gains over
the same time q year ago. when traffic receipts
were enormous. Southern Railway. for in
stance. presented gain of S42,079 over last
wear Central of Georgia a gain of S191lO. Nor
folk and Western gain of 1889, Louisville
and Nashville gain of S6334', while many
other roads made equally favorable returns. In
view Of the enormous earnings throughout the
country il is not surprising that railroad stocks
end bonds refuse to seek a lower level. It Will.
Indeed be queer if prices fail TO sell higher be
fore the fall, despite the fact that the warm
season is seldom accompanied by activity in Sc
rurities The attractive industrial shares prom
ise 10 become more active this year an ad
yancing scale of prices. especially in the OF
ouch issues as American Grass Twine. American
Car and Foundry issues, International Pump
and International Paper preferred. The Inter
national Pump Company is doing heavy bust
ness and paying substantial dividends on its
stock Owing to a three months strike last
year, the earnings for the company's fiscal year
showed falling off from the preceding year
but there was nevertheless large surplus above
dividends.
Buying of the Gould stocks in yesterdays
market was due 10 the growing earnings of the
various companies. and to the expectation of
favorable developments affecting the properties
III Missouri Pacifcs earnings in April were heavier
than in any preceding April on record. and the
outlook in the company's territory favors con-
tinued expansion in traffic receipts. Missouri
Pacific. and in fact all the Gould roads. are in
better physical ana financial condition at pres
ent than ever before recorded, and the stock
holders in the various properties should md 1t
profitable to maintain tight hold of their pos
sessions George J. Gould has accomplished
wonderful results the Missouri Pacific and
the Texas and Pacific in the last few years.
The early strength in stocks was not main
tained in the afternoon owing TO realizing sales
throughout the list The closing showed irregu-
lar changes with more ret gains than losses.
Sugar Refining lost Ia points, bet else" here In
the active list declines when made were small
fractions. Northwest preferred advanced over
3 points on light dealings, and Chicago and
Eastern Illinois az points. Chicago Great
western and Kansas City Southern were strong
features In the industrial list International
rounnn and American Grass Twine We're leading
strong issues The steel shares closed at d
fractional loss.