New-York tribune., 1903-02-08
BONDS.
THE DAYS OPERATIONS IN STOCKS.

r,..,,+. hank statement that on its face ap-
peared extraordinarily unfavoranie' the stocA
market closed with advancing prices. FOR
hrief period following the publication OF the
CLEARING House figures quotations eNhiol'eo
-aoc+,onar1, tendency. but renewed pool buying
in the Gould shares changed the couiSe "
values throughout the list. doubtless on the
.Laor- +ba+ the strength in Missouri Pacific,
1exas and Pacific and the Wabash issues re-
aAo+ad eegressiye operations for Gould ana
PocuefeIler account Wabash preferred gained
FOR +he day 38s points. the common polnt' ana
the. debenture B bonds points IeHas ana
Pacific was up over point. and missouri racine
enioyed a net gain Of q. Trading IN the stoohS
named supplied about one-third or the toI0i
dealings in all issues. Elsewhere actlVlty was
confined to Amalgamated Copper, Erie, Readlng
and United States Steel common The strengtn
IN the Could shares was accompanied by the old
story of a. Gould holding company, but the main
cause of the advance was doubtless the sue
cessfu1 progress the Gould system is making
toward the Atlantic seaboard and the growing
,n,nortance of the Wabash a factor in the
trunk line situation.
Bank statement figures showed loss IN cash
holdings Of 1924 500, and a decrease in re
serve above legal requirements OF s9'00o'loo
to S1S545 675, against S17, ,S96,22o in the same
time a. year ago, and S203 2,625 in 1901. Loans
increased S20,447. 800. Part Of the gain was due
"a +be change in the capital and surplus Of the
Western National Bank, which became oper-
at,ve last week Loans OF this institution in
creased Ss 284 100 and deposits increased 81
915 700 There were payments Of European
loans IN the week. which were in effect trans
ferred 10 the local institutions, while there was
further borrowing for corporate enterprises IN
cluding no doubt some OF the pennsylvania
Railroad loan which did not figure IN the pre-
cadire weeks staternent. A year ago loans OF
the Associated Banks increased SZo,9'4'ooo-
From the known movement Of money last week
q loss of about 100000 in cash was expected.
hut the difference between these hgures ana
those of the bank exhibit was accounted for by
the average system, which week ago showed
an Increase in cash of about 100000 more
+ban ,rAIiroinarv estimates foreshadowed.
Railroads in the Southwest are carrying more
freight than ever before in their history, and'
according to current indications. the movement
of traffic will be heavy throughout the year
Missouri Pacific for the last week In January
shows gain in gross earnings or Soo5'Voo'
while Missouri Kansas and Texas presents an
increase Of $4,000, comparison being made with
the corresponding time year ago improve
roent in earnings is due both to the heavy crops
of 1902 and an expanding volume Of general
merchandise traffic. Missouri Pacific handles
I.-ge mart of the grain movement in Kansas
and Missouri and it is therefore interesting to
.xor,ine the statistics showing the crop Of
CEREALS IN those States in 1902 and 1901. IN
Missouri in 1902 the wheat crop showed an in
crsaee of 25.129,OO0 bushels over 1901 corn
an increase of 197, 10000 bushels, and oats an
increase of 100000 bushels In Kansas the
Weld Of wheat decreased 51,O09ooO bushels but
cl,rn increased 160,999,OOO bushels and oats in
creased 14197O0O bushels. Earnings OF the
Texas
rate that will doubtless soon attract good
h,I,jnp of the company's securities