New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-06-04
BONDS.
THE DAYS OPERATIONS IN STOCKS

c-,,- --z-i,e+ z-a;1,es were generally firm and
higher until the last half hour. when the entire
list declined. with Pennsylvania in the lead
No new developments accompanied the weak
ness in the final dealings but the Street was
filed with reports regarding an alleged pur-
chase Of control Of the Erie by Gould ana
RockefeIler interests. These reports induced
seHing OF Pennsylvania on the theory that Il
The Gould interests had secured control Of the
Erie an independent policy would be adopted
which would interfere with the Pennsylvania
Vanderbilt community OF interest IN the East
en- railroad field. The Goulds are making eff
forts 70 develop the railroad business IN the
United States, and no one need feel uneasy
over their progress toward the East. 1t is not
likely however. that the Goulds are investing IN
Erie as their plans. as so far officially report
Cd do not include the territory served by this
company.
Boston interests were forced TO sell a number
Of stocks yesterday. owing 10 the disturbance
IN the Montreal market. but the shares in when
heavy Boston and Canadian speculation has re-
Gently been active were firm and higher, owing
n great part to covering of shorts Twin City
Rapid Transit gained nearly four points. While
The 500" stocks made striking advances. the
rreferred. for instance. gaining over = per cent
&. Paul was the leading active feature In
he early dealings this issue advanced over two
-oi--s t11r Il lost its gain before the close Cal
money closed at 5 per cent while sterling eN-
change was a trif1e weaker under the influence
OF heavy offerings Of bills against gold exports
Actual engagements Of gold for shipment by to
DAVIS steamers amount 70 nearly S7-oVu'fr'-
Closing prices were well under the best of the
day. and bear sentiment was marked IN the
final dealings.
Wall Street was not. Of course. favoraby i'm
r-R.o a fo-,7T
he anthracite coal trade, but sentiment on the
general industrial situation relating to strikes
vas more cheerful. The end Of the Building
Trades strike VIII. from current indications. %
-e4r this week and unless the hard coal
workers get into trouble with the mine owners
and operators the next two weeks ought 10
witness q gradual Disappearance Of labor dis
turbances- Factors that have recently haI'
stocks and checked the demand for securities
present no indication Of permanency IN them
influence either on sentiment or values. L
the underlying conditions were weak a Ions
period Of declining prices might be expected
but as the foundations Of money and bushes;
are strong and healthful the stock market
ought soon 70 rally from is present unnatural
depression.
Gold goes 70 Europe. owing TO international
money market conditions. and the movement
VIII doubtless continue until checked by rise
tn local money rates and the est2 bllsh11ent o.
equilibrium between the home and foreign mar
tets. This country Is hQuidating its debts
abroad and preparing the way for gold imports
ir the fall. Money supplies in this country are
constantly increasing and current gold shipments
from NeV-York viii soon be offset by arrivals OF
The metal from the klondike and Alaskan mines
On June ! the amount OF money in circulation
" the country. exclusive OF government hold
tngs. showed an increase Of 1881 los over MAY
Z wkile compared with June / 1902. there was
an increase of S127. 75S $50 the greater part %
which was gold. The growth of wealth in the
United States in the last Cwenty-three years
measured by the amount Of money IN
circulation, ought 10 encourage confidence among
al men in the value Of American investments
In 1919 there was in circulation SS16266 12l
as against So $50 IA SOS IN 1908