New-York tribune., 1902-03-13
BONDS.
THE DAYS OPERATIONS IN STOCKS,

Trading in stocks yesterday on good
scale and the general tendency Of prices
throughout the day was toward higher level
The most noteworthy development was an ad-
vance in call money to per cent, which was
the highest rate since January p. but it was
without effect The market was in the main
professional in its character. and there was
manipulation with very little disguise in several
leading stocks but a distinctly better feeling
prevailed, nevertheless. The reason for this ina-
provement in sentiment was found in the fact
that there was less uncertainty about the future
than there had been. To begin il had become
apparent that the outgo of gold TO Europe had
definitely terminated. and. again, it was doubted
II much more gold would be transferred from
EeW-York 10 San Francisco. II seemed 10 be
expected that rates for call money would go
still higher. but that a matter that evil
IDENTIFY caused no particular concern. Money
cannot go up and stay UP for any protracted
period Dear money will be sure TO attract
cash from other places where less profitable
employment for it exists. Loans have been
called to a moderate extent this week by banks
which found it necessary TO restore their re-
serves but care is being taken by the banks as
a whole not TO derange the money market.
Financial statements issued by various rail
road and industrial companies tell of unimpaired
business conditions. In fact. nearly all COM
panies report an expansion in their operations.
The statements Of some Of the most important
transportation and manufacturing concerns in
the country have been made public in the last
few days, and they have served TO remove doubt
as TO the stability Of values in the market for
securities. Apprehension to the iron and
steel trade has vanished. There is hardly
steel concern, big or little which has not in
hand orders sufficient to keep il busy for the re-
mainder of the year, and some concerns VIII
consume eighteen months in fulfilling the con-
tracts they have already entered into
It is too early yet TO reach any conclusions
as TO the crops. The expectation Is that the
acreage of wheat and corn viii this year be
much larger than last year and If weather con-
All depends on the weather. Rains have Wis
ited the winter wheat belt and have given this
crop good start
While nearly all stocks dealt in the Stock
Exchange gained in price there was one notable
exception II was Amalgamated Copper which
sustained a bad fall, and closed at the lowest
figure. A meeting Of the directors of the COM
pany is 10 be held on Thursday OF next week to
act on the quarterly dividend. The. belief Is
entertained in some quarters that no dividend
Osceola Copper Company, which last year fol
lowed the Amalgamated company in prices, and
suffered a loss Of SS12 600 in net results, il is
natural assumption that the Amalgamated COM
affected Another stock which receded in price
was Sugar Refining. It was sold on the doubt
as to action on the Cuban tariff. There was
liberal buying Of Cotton Oil. which was taken
as in a degree confirmatory of the report that
a consolidation of cotton oil and kindred inter
ests is impending. The accumulation of the
Reading stocks was resumed, and sharp ad-
vance in the prices of them took place. Shorts
in Missouri Pacific were covered.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BoNDs.-Market steady. Final