New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-04-30
BONDS.
STOCK MARKET OPERATIONS.

Trading IN securities Was again Intensely oull'
willis the movement OF values rejected no oe-
>ioea tendency IN either direction, except IN q
few tssuss su which special considerations were
responsible for the course OF quotations An
,,rrUvara movement In Mexican Central. strength
n United States Rubber issues and moderate
activity IN Consolidated Gas, Pennsylvania,
limited States Steel preferred. Erie ana Anal
Snnased Copper furnished the chief features OF
fN,,. stupid DAY IN securities. There was soso-
l,y4e1~ no demand for stocks from commission
kouses for the account Of the so-caIleo pubic
while the leading speculative interests were not
e1sposed 10 make important commitments on
either side OF the account There was nothing
su the days news OF adverse nature, as lar
as the actual value OF securities was concerned,
While on the other hand there little In the
general course OF events that encouraged trad
ers 70 operate for higher prices. The buying
Of Mexican Central came from a house when
IS supposed to represent the reorganization in
terests in the company. Its early upward move
.ne-t however was not well maintained. as
before the end Of the second hour profit taking
sales caused a decline OF nearly 1 per cent
It is not yet known except by the insiders.
what form the reorganization plans viii take.
but the general impression in speculative cir
Cles appears TO favor the theory that the hold
erE OF the stock will be compelled to pay cash
ESSGSSIlGnL
people who are willing to buy the issue at fits
current price their views being based on the
theory that the remarkable industrial eXpan-
sion that is now going in the Mexican Repuh-
lie warrants the purchase Of the stock at its
present quotation. irrespective of any reorgani-
cation plan.
Further heavy gold export engagements were
made yesterday. the total, amounting TO $780,,
COO making the whole amount for the week
l2.S00000. OF course the exports which win be
made to-day will not figure to any material
tent in this weeks bank statement. owing to the
system Of averages which IS used in compiling
the figures but the shipments made earlier in
the week win be factors IN the statement, al
though they win probably cause no important
decline in cash holdings the local banks have
received a large amount OF money from the in
terror while in addition they have received mod
crate amounts of japanese gold through Sub
Treasury transfers from San Francisco. Ac-
cording 70 the known movement OF money in the
week the figures OF which, however, may not
agree with tO-day's bank statement. the Clear
sng House institutions have lost upward Of s.,
100000 in cash. as compared with gain week
ago Of nearly SIGO00O00 II It had not been
for the outward movement Of gold the advance
would have shown. according TO estimates based
on reports received from the chief institutions.
upward OF S5.O0000O. They received from the
irterior over 81. 100000. while they lost through
the Sub-Treasury over S6.000000. The fact that
money continues to come 70 New-York from out
side points indicates. Of course, a lighter volume
OF business throughout the country. especially
as at this period OF the year the movement OF
currency Is generally against this city rather
than in favor Of 81. The local bankers would
welcome a reduction in cash and surplus hold
fngs as at current rates for loans there is little
profit. It was reported yesterday in regard to
the details Of the arrangements made for the
pavrnent on the Panama Canal account that the
French syndicate which has charge of the mat
Ter had arranged with the Eew-York hanks 10
extend the payments over a period of two
months This money market, however, could
stand the withdrawal Of the whole amount IN a
much shorter space Of time without developing
disturbance.
Trading in the afternoon declined 70 insignia
cant proportions while values were heavy in the
greater number Of issues. small net losses pre-
dominating at The close. The most significant
stem Of news In the day affecting the country's
foreign trade and foreign exchange position was
found in the report OF grain exports for the
week which showed a heavy falling off in the
outward. movement Of wheat and corn. Exports
oP wheat for the week were smaller than IN any
breeding week in the last fourteen years,
s~aountirg 10 about 10000ao bushels. against
! $4,000 bushels last week. 100000 in the
same week year ago and 100000 bushels in
600 bushels. compared with 626.0o0. bushels a
week ago and over 2oOGOgO bushels III the cor
responding time IN 1903.