New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-27
BONDS.
STOCK MARKET OPERATIONS.

transactions N yesterdays stock marker
we're made up In great part Of the operations
Of the professional element, commission houses
having few orders for public account, while the
more substantial speculative interests were not
actively identified with the course OF trading.
In the early dealings prices showed recessiohS
from the closing OF the preceding day. but IN
the subsequent movement Of values the ten
dency as g rule was IN the direction OF hlgheT
quotations, the most notable exception Delhs
Great Northern preferred, which, after a decline
Of points, failed TO make up much OF the loss
The weakness IN this issue, however, was on
small Gales and It did not represent anything
beyond the liquidation OF G few unimportant
accounts Union Pacific was IN fair demand;
also ST. Paul Reading. ADlalganlated Copper
and United States Steel preferred although the
volume Of buying was not heavy enough TO
bring about an important Improvement in the
quotations OF the various issues London
bought stocks on e small scale in the local mar
ket, and, according TO cable advices, sentiment
abroad was more cheerful over the outlook for
higher prices IN the American department OF
the London Stock Exchange, while foreign
bankers appeared 10 be more disposed to en-
courage activity IN foreign gov eminent bonds
and English Issues. including the Kafir shares
and copper stocks. In the afternoon trading
though prices maintained a nrm tone especial
y In the case Of Ontario and Western, which
was strong on the idea Of q guaranteed dividend
declaration on the stock
Money market rates have not been affected
by the final payment on japanese bond account.
and ct the moment there IS no factor in the
monetary situation that foreshadows materially
higher quotations for loans. About the first Of
July there may be a brief period Of dearer
money, owing to the shifting OF loans that will
take place at that time, incident to the July in
terest and dividend disbursements, but the out
look faVors easy rates throughout the summer
despite the possibility Of gold exports In the
course Of the next two months. Europe, how
ever. does not need our gold, and an outward
movement Of the metal viii merely represent
the settlement Of our obligations abroad IN a
way most profitable TO the banking community
The United States could spare many millions Of
gold for foreign exchange transactions. The
supply Of money in the country is large, national
bank note circulation has increased in the last
few months, the addition TO the amount Of
money n the country through coinage Of do
mestio gold has been heavy and more money
has become available for the purposes Of trade
and speculation through the excess Of federal
government expenditures over receipts There
fore It. is difficult 10 ind in the monetary situa
ton any factor that encourages the idea that
there VIII be disturbance in the money market.
and. bearing this fact in mind, there ought to be
no uneasiness IN Wall Street circles over the
future Of the stock market Commission houses
are able 10 borrow all the money they need at
easy rates for long periods and It is quite likely
that advantage VIII be taken Of this by MANY
stock market operators TO buy stocks TO hold for
higher prices.