New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-10
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Traders worked for lower prices in yesterday s
market and as A result Of their operations
values closed at small net losses in the greater
number Of issues. Bank statement figures were
disappointing and totals at variance with Fri
DAVIS estimates OF the weeks movement OF
ironey. cash holdings showing a gain OF only
81 EGG GOO. against an estimated increase of over
s3oeoepo while liabilities were expanded to an
extent that caused a decrease in reserve above
legal reo,Iirements The loss, however, was
small amounting to only S1152,023. Loans IN
creased S9.co1 200, and deposits Increased sIV,-
a74 500 Reserve STANDS at Stoo-0'o-''
against Sd 461 600 in the same time a year as0
and SIS 127415 in 1901. The increase IN loans
was attributed in great part to operations IN lile
foreign exchange market Stocks were not al
fected by the Manchurian situation. ellher III 'iie
local or foreign markets, and the decline proush'
-. M foundation of Importance. Some traders
soId the market in honor. they said OF the SCI
ond anniversary of the Northern Pacific panic
% Ma, o 1901. The situation is infinitely bet
,er ,,an If was on that memorable occasion, ana
. careful studv of conditions then and now sus-
rests that the anniversary of Blue Thursday
ought 10 be celebrated by activity ana hlshei
,,rices in securities. Activity IN yestefu0!
market was confined to AmalgaInateo ooPPei'
Arcl,ison St Paul, Erie. Missouri Paclhc' Feiiii
svlxania Rock Island and Union racine @A
lean Grass Irvine advanced points Oh pun
cbases Of 500 shares. Affairs OF thls COMPANY
rre said to be on the mend.
Commercial agency reports for the week IN
5,(ota an encouraging condition of prosperity
throughout the country. despite labor unrest III
-, lines of trade. Strikes in the building
.5ee do not threaten to extend to other INDUS
.,Ies and demands of labor are not hkely 10
check the progress of industrial expansion a
decline i'm bank clearings does not hui0ale &"
reduction in the volume OF general BUSINESS
She falling off of 81 per cent in NeW-h orh pallA
exchanges in the week, as compared WIN Ihe
same time last year. being due entirety 10 lhe
Eight alings in the securities market. current
dn1pess in stocks compares with a period Of
great activity in the corresponding time last
YEAR and in 1901. but this dulness reflects
,,ucb more healthful situation in Wall Street
than in the preceding years, while it fore
shadows as is believed, normal bull market in
the summer. The character OF present buylng
in stocks is good. It reflects accumulation OF
securities by operators who appreciate the
strength of the business situation, the favorable
outlook for a further trade activity and the at
tractive level at which first class securities
may ROW be purchased
Interest viii doubtless increase in the medium
and low priced railway shares and in the in
dustrial issues In the latter class the railroad
equipment stocks ought naturally to move
higher owing to the character of the companies
business and the enormous earnings of the last
two years Corn Products shares are well
thought of. and quiet accumulation of these
issues is reported for -he account of substantial
interests Selling Of stocks yesterday was of no
significance indicating a change in the gen
eral sentiment Of the Street regarding the wis
dom Of buying securities at prevailing prices.
sales merely representing the operations Of
he Shn
side could he effectively brought about There
are no indications Of the immediate development
Of big bun movement in securities but there
is however. evidence that the market is slowly
improving and that preparations are being made
Cor an active speculation later on in the year.