New-York tribune., 1905-04-30
WALL STREET AND EXCHANGES.

FOREIGN TRADING.-Foreign houses sold
stocks in the local market In London consols
were hrmer and the general market closed with
conhdent tone Business all round was reduced
by the Stock Exchange holiday on Monday Money
was In fair demand on the last day of the month
and may be harder than had been expected as Of
hcial reports show general revival in business
and an increasing trade demand for MONEY One
small failure in the Stock Exchange was reported
MARKET GOSSIP.-It was said that the heavy
Gould holdings in Union Pacific were being sold
regardless OF market conditions and that there
had been some retaliation in the Gould stocks by
the Hartman interest Union Pacific is stu the
admitted storm centre and drags the rest of the
market down with il as TO other stock would have
done Several large blocks of active stocks were
purchased on the break Thursday afternoon and
on Friday by interests which have been out of the
market for quite long time. This was particularly
true In the case of Union Pacific and PennsvIva-
MA. The weakness in American Locomotive stock
was again noticeable and was generally understood
to result from forced liquidation by the pool which
was instrumental in raising the price some twenty
points. The pool sustained the stock fairly well
on the recent break. but had to let go on Friday
There was also heavy liquidation of Louisville and
Nashville. and IL appears that OF the mem
bers Of the Locomotive pool are interested in the
Louisville pool. Louisville opened strong but be
erratic and lost some of its early advance
Some plan 10 get the minority stock out Of the
way, presumably by a guarantee or an equivalent
I'm form. is still talked Of in what would he
Colorado
sold in moderate quantity on the refusal of
the Governor of Colorado to sign the bill for its
extension.
BOND MARKET IN APRIL-Fisk & Robinson
in their monthly bulletin say:
A somewhat lighter volume of business and a
slight disposition sag have been features of the
railroad bond market for the month Of April The
causes for this not quite clear but the reaction
may fairly be considered only an incident in a
broad investment market and as a slight Interrupt
uon in its natural upward course. The radical
course or the money market has to be taken into
account as contributory cause. call loans touch
ing as high a rate on one day as per cent per
annum due II Is understood. to quick shifting of
large loans ne rate, however. has since reacted
10 between 2'2 per cent and per cent, and money
seems TO be IN plentiful supply at latter figure.
We do not expect TO see much further reaction in
prices OF goud investment bonds, and look for a
more active market in the future, The pros
perlty OF our railroads. the active business pro-
ceedlnS IN Industrial lines. ana the sound condition
or the country finances should bring about this
result; We thlnk now is a favorable opportunity
10 make conservative investments. At the close az
March, the government bond market ruled fiVm,
ana by the beshlhng OF april IL looked IL the
cemnnd for ponds for circulation purposes. Gus
toInary at this time in the year. had begun to de-
Nciop on a large scale. As the prices advanced IL
was noteeable that comparatively few bonds came
CT prices was at hand About the 9Th of the month