New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-12
BONDS.
STOCK MARKET OPERATIONS.

There was little change in the character OF
trading i'm yesterdays market from that of the
preceding day. or I'm fact from that Of the last
few weeks, transactions amounting to small
totals in all issues. with unimportant price
changes at the close. AS a rule last quotations
showed net losses. compared with Tuesdays
final figures. There was no heavy demand for
securities from commission houses and there
was no evidence of interest in the market for
the account of the leading speculative dealers
Consolidated Gas was again active feature
on an advancing level OF values. its loss Of sew
eral points in Tuesdays market being recov-
cred in the early dealings, with final net gain
however, of only + There were no news de-
velopments regarding this issue, the upward
movement evidently representing covering OF
shorts by operators who feared that Governor
Odell might, after all sign the Remsen Gas
bill. The condition Of winter wheat, as re-
ported by the government. induced certain
amount Of bear pressure in the Western railway
securities. but the absence of liquidation by
commission houses prevented important losses
in these issues. According to the reports re-
ceived by the Agricultural Department from
various sections of the winter wheat belt. the
outlook for a large yield is extremely discour-
aging. and supplementary reports received by
officers Of the Western railroads indicate one Of
the smallest winter wheat harvests on record.
Fortunately. weather conditions are now favor
able to the culture Of the spring wheat fields.
but of course, II Is too early 20 make any pre-
dictions regarding the outcome OF this crop.
while it is Impossible to make any suggestions
regarding the fate OF this years corn crop.
Amalgamated Copper was strong feature
throughout the day, especially in the late deal
ings, when the trend of the general market was
toward lower level Covering Of shorts for
BOston account was reported
In view of the various local developments in
the day stocks showed comparative frmness. eN-
hibiting an Indifference to gold exports, the un-
favorable government crop report and reports Of
impending bond issues by railroad companies.
In the afternoon dealings moderately large Of
ferings of such stocks as Pennsylvania, st Paul
and Atchison were made without bringing about
important price reactions. The best feature OF
the market I'm the last few weeks has been It's
uDvyjllingness to decline in the face of adverse
deyelopments 4 few years ago engagements Of
50 100000 gold I'm one day for export would have
caused serious disturbance in the stock market;
vet i'm Yesterdays dealings there was "a total alb
sence Of uneasiness on the part Of traders and
investors over the outward movement OF th'S
amount Of the yellow metal. OUTSIDE on DI.I'. t
States Steel securities there was no I,ltC y 80
weakness in the days trading, but IN inc issues
named decided weakness developed. me com
mon stock made a new low record OF "a WuI.e
the preferred suffered loss for the day OF IS
noirts The Steel securities at the moment are
i,,,o1e, the few issues on the Stock Exchange
that are easily depressed, but THIS Is not AT an
surnrjsng az neither investors nor SPeCuld'o'S
arrarautlv are willing to buy ellhef the pre-
radrrad or common stock. Call none was sllght-
" frner; also time loans. II goid exports con
tinue at the current rate nlshet iuo'a''o''2
Snr loans may be expected, although it IS not
probable that disturbance will develop in this
market