New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-06
BONDS.
STOCK MARKET OPERATIONS.

In a number Of stocks there was a fair amount
Of activity in yesterdays market. while the
movement OF values throughout the list was
generally in the direction OF higher quotation
level, with the chief advance in the active issues
IN Union Pacific. which enjoyed a maximum
gain OF 2s4 per cent and net gain nearly as
large. There was no news development affect
ing this issue, but the Street professed 10 be ex-
fremely bullish on the stock and predictions
were freely made that the price would reach a
materially higher level before the fall election.
Current earnings Of the Union Pacific company
compare most favorably with the record break
ing figures Of year ago. while the outlook in
The oompany's territory is promising for good
crops and large movement Of general merchan-
disc in the first half OF the fiscal year. The
property viii receive a large amount of cash
from the Southern Pacific stock issue. and when
the latter company begins 10 pay dividends the
Union Pacific VIII be the chief beneficiary. All
things considered. there IS good reason for bull
ishness on Union Pacific securities. Southern
Pacific was also an active feature at an ed-
vancing price while elsewhere in the list large
dealings supplied by Atchison, Missouri
Pacific, Brooklyn Rapid Transit ST. Paul. Met
ropol.Jan. Reading. Pennsylvania, Rock Island
Amalgamated Copper and United States Steel
preferred. IN Metropolitan great irregularity
was the feature Of the trading, but the stock
closed, nevertheless, at net gain Manhattan
was strong but inactive. Bear pressure in
Brooklyn Rapid Transit was encoureg ed by the
troubles that the company is having in collect
ing second fare on its Coney Island travel and
the possibility Of the courts deciding against it
in the suits that probably will be brought for
damages by passengers who have been elected
from the cars for refusing TO pay 10 cent rate
10 the ocean.
According g 0f he Trea TDa-
partment, the amount Of money in circulation
in the country increased in the last month
nearly 100000, while compared with the
same time a year go the increase amounted 10
nearly 1872. $4,000. These figures must sicken
the souls OF the Bryan element Of the Demo-
cratic party. it has been its constant cry
that there is not enough money in the country,
but they win prove more than welcome 10 the
business men and fnanciers OF the United
States, especially as the country has exported
in the last year large amounts Of gold The
money market situation at this centre suggests
easy rates for loans for some time TO come
while there IS little probability Of disturbance
when the call for currency from the West for
crop moving purposes develops Money does not
return much as stocks and II is therefore
likely that people with idle funds will soon be-
come more active in the securities markets Wall
Street sentiment Is growing more optimistic
uaoers are gradually giving Up the idea that
the Presidential campaign VIII upset values. and
investors are exhibiting their confidence I'm the
situation by making liberal purchases in the
bond market in yesterdays bond market there
was a well distributed business, with an excel
lent demand for the United States Steel sinking
fund 5s. the Union Pacific convertible IS and the
Burlington joint As In the afternoon dealings in
etocks the whole market was strong, many
issues showing marked improvement as COM
pared with the last preceding business day. St.
Paul was feature at an advance Of about 2
per cent. Rock Island was also strong feature.
Last prices We're not far from the best of the
day. a favorable government report on grain
ano cotton vas an effective bull influence