New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-15
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stocks were again dull and irregular at un-
srnportant final price changes. net losses Pr
dominating. There was little OUTSIDE ueliie1iu
fo- securities. but offerings were taken oS "
good class Of buyers, especially in such sto0As
rs Ncw-York Central and Pennsylvania. Room
sentiment was generally bearlsh' ana luI 'ii@i
efforts were made TO depress the greater num-
her RI issues selling being based on the le-
<,,sa1 IF the so-caIed public TO enter the mar
,se, and on the labor situation ano the uah-
recols speculation in the cotton nlaThe'' -
ciines when made were. as a rule. cohnheo -
small fractions Traders were inclined 10 sen
Nev-york Central because they believed ma
they could attract investment hquldauol' al'u
,,,;,. they succeeded in lowering the price OF
the stock 10 q small extent they falled 70 III
due sales Of any importance People who sen
-. .,as+,,,er+ holdings Of Nev-York Central
- Pennsylvania -becaus OF the large afnou"t Vi
,,-one,- that both companies will spend on I'M
,oe,,,en4s will make . mistake, as the anlouiI'
- money nut out will he more than recoFeIeo
through increased earnings which ne" I'0i''-
Ties for handling traffic will bring II may ~
VOL for present holders Of NeTF-A orh Sen'io
s+ock "a know that the strongest active ralii0
canitslists in the country are buying TINS iesU7'
Tosses Of = point or more were maze oE AA4
oonda. S.. Paul Northwest Delaware ana f1uu
cor Erie second preferred, General kiectrio'
ond IRON. Colorado Fuel and Iron closed uh-
hanged The wabash issues. notably the oe-
venture p bonds. were strong features hock
7z,.,5 WAS heavily sold but well ABSORBED
sterling exchange firm. and arrangements
for a shipment Of gold TO South America "eie
,,ade The weekly statement or the BANK Vi
t-nFland published yesterday showed a decrease
.n The proportion OF reserve 10 ilaolltE Oh i'm,
so,. ~ 37zs due to expansion in loans ana
x1-nip
onerat;ons in connection with the TransVaal
-, concentrations. The increase will douotless
!, o+fee+ tz 2 corresponding decrease in next
weeks statement
Pig iron production in April amounted 10
about l. $4,000 tons. and, despite TINS Dig Iee
ord stocks in hand at the furnaces old not III
crease in the month rejecting the enormous
extent of the demand for consumption AZ
cording 10 The Iron Age the output lot Mag
will exceed that Of April, as furnaces showed oh
Nav ! 2 capacity Of 3S3S9I tons week
against 376.576 tons on April !, or total Tor
,be month of 100000 tons These figures fur
,,,sb ELOQUENT evidence of the prosperity now
prevailing in the iron and steel trade, while
.bev ought 70 silence at once the pesslinlsnc
talk heard in some poorly informed quarters re-
N earding conditions in this line Of industry Inc
" consumption Of pig iron is not only taxing the
huge production of this country. but also heaNy
lamentations and a falling off in demand IN the
,nnorner months would not upset the market In
.he foundry trade consumers are beginning 10
hold of in the hope OF lower prices. ana as
,,,o-s+;or7s have been at an unnatural level the
6sclinire tendency now reported is a most ia
,orsh HE feature Of the situation WAN Street
1,nec1lators whose changing ideas on all aHalrS
elated TO stocks receive serious CONSIDERATION III
kindergarten circles are putting forth peallsh
-,,,tersnces on the business situation. put. out
.,5a ~ enbeneral labor troubles and the specu-
,ation In cotton, conditions governing the oouh-
,rv,s trade have never been sounder.
,c+v.,thstapding the falling off in cotton ex-
-. ,- an-fl as a result Of the high prices for
.be product the outward movement OF genera
~,s-chsn5ise in the month heavier than
a, any corresponding month on record, WITH
she exception Of April 1901. The excess OF
exports over imports amounted IN NaIue 10
sol eo7 43s making for the four months OF the
.,a,6sr wear an excess Of S149. 433Sl9 as
compared with excess in the same time last
wear of SI39 126 AS Imports were again heaNS
sn Auril. showing increase in value or ABOVE
100000 over the same month IN iS"- put !"
-6.crease Of nearly 100000 from March For
- g. ,,o,.hs Of the fiscal year exports have
Rec, heavier than in any corresponding time
event in 1901 reaching the enormous total OF
- 993 74ne63 against imports in the same
,ir,e n the value Of $3.50, 120.ee9. or an excess
20 av-,o-1s in value Of S3o9.o19,II4- In the
,erfo6 under review imports increased ip value
sl10 2na 0SI while exports increased Soo,ooo'-io
In view Of the fact that exports OF corn showed
x,,ct = heavy decrease from the preceding year,
owing 70 the corn crop failure Of 1901 the rec
ord Of the export trade since last July is truly
marvellous The present speculation in cotton
viii doubtless soon collapse, as prices are now
At fictitious level and it is therefore not likely
that exports Of cotton will be checked for any
extended period. There is much reason for
satisfaction and encouragement in the course OF
the countrys foreign trade.
rEr nhN,S OPERATIONS In BONDS.