New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-06-10
.Ex dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS,


NOW record for dulness in the current move
lnent was made in yesterdays STOCK MAJ fAe'
total dealings amounting to only 1ll.Si2 shares
against $4,000 shares the last preceding 10"
record Notwithstanding the inactivity in trad
ing rrices were firm throughout the day, Win
small net advance at the close. In a few shares
substantial improvement was recorded as Ioi
instance Sugar Refining. which advanced IA
points on transactions larger than in any other
ISSUE. An advance in refined sugar helped the
movement in this stock. St Paul gained over
| point: also Hooking Valley and Kansas City
southern On dealings of a few hundred share
/ lots Butterick Company stock advanced over .
ro;nts Omaha y points. Long Island > points
Pacific Mail Ia points. and Toledo. Peoria ana
Western 10 points In the industrial list the
limited States Steel shares were moderately &C
I'VE while further buying of American Grass
Irvine was reported There has been an accu-
mutation of this stock for several weeks pre-
ssmably by people who realize that as sohd .
y,er cent issue its current market price is far
below its intrinsic value The expectation OF a
favorable government crop report to-day helped
Yesterdays market so far as prices were con-
cerned but it failed TO attract general outside
buying Careful observers detected, however.
evidence of quiet accumulation in several quar-
tsrs by substantial interests. The movement
that viii follow the end Of the coal strike will
doubtless find stocks in stronger hands than
ever before.
The position Of the stock market rests on
substantial foundation, reflected in the total
absence of important selling pressure and the
refusal Of prices break in the face Of I'M
favorable developments There has been long
series of adverse factors in the last twelve
months. but stock market values have been
affected only for a short time The props of the
in character,
while the adverse developments have been only
passing influences. Coal strikes are serious for
q short time and a failure TO end them might
serve to check industrial expansion Strikes,
however. have never paralyzed business, nor
have they ever caused any lasting injury to the
intrinsic value of investments In the present
coal strike the miners losing their wages
snd consumers are paying more for coal, but so
far the miners union and the mine operators
have failed to damage the country's general
business prospects. There now appears to be
little chance for a wholesale strike in the btu
nainous field, and so long manufacturers can
secure soft coal there need be no uneasiness over
The situation.
Reports received yesterday from Western rail-
road centres presented evidence of further ex-
oansion in railroad traffic and indications of an
enormous volume of business throughout the
rear. When the grain and live stock move
nent becomes heavy. later on IN the SeaSoL
here will be, il is thought. greater car famine
han year ago. despite the fact that in the last
rear The various railroad systems have increased
heir equipment. Crop prospects are so bright
hat railroad officers expect a heavy eastbound
,rain movement this year, while from all indica-
ions the westward movement of merchandise
xiii continue its present heavy rate. The move
alent OF settlers 20 the Northwest and South
rest is large and according to Western railroad
idvices, the financial condition of the majority
" these people encourages the expectation Of
ieavy orders for farm implements and other
nercha ndise from Eastern houses. The develop
nent of the Western farm lands means much
o the railroads and the merchants. Established
Western farms are in a sound financial condi-
ion despite the reduced yield last year,
while general industries in the West more
prosperous than ever before The growth of
manufacturing industries along the various rail-
Dads makes II possible for the roads TO thrive
rithe--S the aid of full crop OF grain.
THE DAYS OPERATIONS IN BONDS.
( GOVERNMENT BoNDs-Market slightly lower.