New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-06-19
BONDS.
THE DAYS OPERATIONS IN STOCKS

c.ool, market trading was light in volume on
~ tr-e,-,1ar movement of values that left last
quotations at net losses in the greater numoer VI
fssues The room element was generally Deaii9l
hui there was little outside liquidation ana ho
evidence OF great confidence on the part OF
operaiors for lower prices IN their postum
,r,,ct - the davis selling was encouraged by
the higher market for corn. This cereal au-
vanced. despite generally improving reports from
.be Western grain territory. while wheat anu
oats were UP in sympathy. buyers evidently
onera+ing on the theory that the unseasonabie
-,,ee+ber that The crops suffered al the start
o,15 carse = poor growth and carry the corn
harvest into the period of early frost Accord
,nr 10 Yesterdays weather map perfect coHoi-
,ions prevailed throughout the cotton neit anu
On The corn and wheat States the weather III
Kansas Nebraska and Iowa being especlalS
favorable to the rapid growth OF corr he
.er,nerature IS rising in the South. ana coIliile
m ton Of the recent moisture supplies the oeS'
LIND NJ weather TO make cotton grow fast Inc
o-ops will doubtless be controlling factors III
the stock market for the next sixty days
missouri Pacific and Atchison were sold on the
strength in corn, but their losses We're Iio' q
tensive Metropolitan was the weakest lea '''le
IN the railroad list, selling renecuns 'ie III
.a,,o-.h,a innression created in Wall Street by
he H0r7H
.ee+.-oorv in the wormser case against the
,,.-o,3..-, Inter,rhan lease. In some of the
- --,oe5 tssues as for instance, Delaware
- tJ,ason General Electric and Consolidated
9 ,o-r stool. came on the market. and sales
+ his character naturally We're not BUN argu-
,,,e,+s on fhe general list. Weakness III the
Tinted States Steel issues was also ols'ui oiie
factor. especially as there were safes loI 'i0
sc-ount Of important market interests. 1t "ds
Thought in some circles that the heaNlhssS III on
the iron and steel shares foreshado"eo d ma
ferial reimbursement Of prices, ana 1iiis Niie-'
Was strengthened by the well founoeo iePoi'
that some of the larger interests haQ lilaoe Noii
ceesio7s in order to secure business. FROM t.
norris received by The Iron Age all depart
,,.rts of the iron and steel trade are quiet with
2 disposition among buyers to exercise the q ea'
es+ conservatism. There is indication how
ever. of unsound conditions in the trace, anu
the decline in the United States Steel shares
.7.x- N the lowest prices ever reached
.sve in the Northern Pacific panic OF l9ol'
doubtless reflected speculative situation ere
..a5 h,, the market excuses Of year ago
rather than factors affecting the iron ana steer
trade United States Steel common sold down
TO os7s. and the preferred TO ISL The Erie Is
sues held well and Street talk was hulllsh on
the common.
Although the Bank of England has mace
further reduction in its minimum rate OF as
count the prospects still favor gold exports
from here. as Berlin is making active efforts to
attract the metal This is the cheapest money
market in the world and Germany Is naturally
looking TO New-York for gold. Supplies at TINS
centre are large enough to prevent outward
movement from causing disturbances in local
money market rates. but. Of course, if exports
should be resumed in volume the prospects Tor
an active bull market in securities would he
diminished. AT the moment there is no indlca-
ton of immediate activity in stocks for bull ac-
count The movement of money so far this
week has been in favor Of the local banks, and
Tending rates do not foreshadow poor hank
statement tomorrow. Call money is freely Ct
fered at 2d21s per cent. while time funds are
comparatively easy at 4d5 per cent for sixty
davs to FIVE months.