New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-19
BONDS.
STOCK MARKET OPERATIONS.

In the two hours OF trading in yesterday ;
market prices moved within narrow limits WINE
the volume OF business was confined 10 an eA-
ceed.ngly small total. transactions IN all ISSUES
amounting to only &C. 31 shares In the greater
number OF securities opening quotations were al
small fractional gains. as compared Win 'iie
preceding DAVIS last figures, while in the subse-
ouent dealings irregularity was the characters
tio feature Of the market closing quotations
rresenting more net gains than losses. Commas
sion houses were not factors in the market spec
rlation being made up almost entirely OF lhe
operations Of the board room element hA-
pectation OF a favorable bank statement iaiieu
to create an active demand in any part OF Tue
list the heaviest dealings in any one issue
amounting TO total Of only 2l35o shares III
southern Pacific. Elsewhere in the LSt the
chief activity, If It may so be called was sup
rl,.d nv Atchison, St Paul. Union Pacific
Auaalgamated Copper. United States steel pre-
ferred and Brooklyn Rapid Transit. There was
a moderate attempt TO create activity in Anal
fpnated Copper, and traders endeavored TO
hiring about q lower level for Southern Paclhc
hut efforts Of this character met with mite I'M
uortant success. Doubtless there Is a large
short interest IN Southern Pacific. ana many
traders therefore are not disposed 10 follow the
bear lead IN this security, on the theory 'ha'
there IS too much company on the snort slue
The bank statement showed an increase III cash
holdings Of sc. SOC, 500, an increase IN loans OF
81 b96. 500 and an increase in deposits OF ST.
rs1 300 As result of all changes reserve
above legal requirements increased $780, 40
10 SIS S69. So, which compares with SlooJ9o'"
.n the corresponding week a year ago. Inc
statement was without material effect on stock
market prices.
Reports received from the commercial agencies
for the last week tell Of favorable features IN the
general situation including Improvement IN the
leading crops and the collapse OF the strike Oh
the Great Lakes. While general trade Is quiet
business men report sound underlying conditions.
and they believe that with an average crop OF
the various cereals and a large yield Of cotton
an excellent fail and winter business may be
looked for As lar as the crops are concerned
the present outlook is extremely encouraging,
especially for spring wheat and cotton, indlca-
tions in the cotton belt suggesting one OF the
largest haryests on record. Bank clearings out
side Of New-York City show material falling
off from this time a year ago, while railroad
earnings do not reflect abnormal culness in the
business world. For the first week in June for
tv-four railroads reporting show a net increase
IN gross income of over per cent seventeen
roads reporting losses and twenty-seven roads
gains. The largest increases-indeed. over one
half OF the total increase Of al roads reporting
are supplied by roads in the Southwest. where
comparison Is made with period a year ago
when the companies were suffering d falling off
IN earnings due 10 the great flood Of 1903. For
instance, Missouri Pacific showed an Increase Of
S105000 over the first week in June last year.
when decrease Of $l24. 900 was shown from the
same time in 1902. Missouri. Kansas and Texas
for the same week this year shows an increase
over a year ago OF S35.656, while IN that week
the decrease from the preceding year was $685.
he al CF ba Gor,rl1 este
roads for the first week in June shows an in
crease of S226S while the increase for all
the roads reporting was S52l,6lS ana if the in
crease on the roads affected by the flood be
eliminated from the comparison there viii be an
increase for roads reporting OF S2s4.1 94 and a
decrease Of S295 745.