The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-27
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eaess lo.iay 49, Nv 80 ths Hs'tnally
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syd ff1stlanti nee Irsaa Hetu Hiai1int y
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sdvsnrs IN ~ rcNaavivtuIt nsilroad
sAafsa. eail ~ W. stu-si ~ tks eter''ion
~ . gAls asrJl dFjief In tho ftorN nv Fht'a-
aeirhla sesas,ns ioFrned no oniv no'ahle
ssrspsion ~ ~ day's prHvalinf tend
The tirIfed a's,es Realty ansl fmrr1Ves
meat sharas errH strong naturally ur'r
lhs s-nnrtnouussae that Tho err ranv bad
obtslnrd tho arus contracts f1r tn rnn-
anpflon NJ he terminal derota IN iha wv
~ M rcrnfyivsnia and ituiann tunnel
eorufnnies Nv ths bond market Tho feature
va 4 fnr,t ~ riar IN ihc " 'is,sh ieh"nturc
bonds. dps to Informal huf lorthtl"sa cun-
rect statements thai tho committees having
IN ehsrgp No Interests n holders ~ these
boudE had artrud ~ accept Tho offer of the
Watash company for y rpiirernent ~ theae
srcuntiea bv means ~ an isaite 81 y now
wabash consolidated mortgage bond and
w tho oft Il . bonus IN addition ~ new
Wabrah preferred and omtron stock Tho
p-rcrtmption is that thn bondholders will
rccert this offer. although n IA understood
that no large deposit ~ Wabash Bs has
boon made In pursuance ~ the rlan and Tint
the committee acting In the affair IL a self-
APPOINTED me. The committee. however,
il of high character and any rrconmenda-
ton that u makes will doubtless have weight
with the bondholders. Tho news that the
minority Kanawha and Michigan share
holders had agreed to accept IN offer for
their stock Of N pcr cent in new Hooking
Valley comlnon stock did not stimulate
snv trading In the stocks concerned. Very
little regard WAS paid to the weekly bank
abatement, which reported n loss by the
hanks in round figures of s., 900, 100 in cash,
an lHCItdS " sofuFft'NH az N''" e"'' " ~
crease In surplus Of 81. NC, oOo. II was
commonly thought that the position Of the
banks was stronger than rs shown in the
return, by reason Of the fact that the large
transfer OF money from San Francisco
TO his centre made a few days ago anA repre-
santipc the recent rrcpipt OF Australian
gold on the Pacific Coast figured to only a
small extent in the hank return. Tho
-tI A-Al z.-,tz-a aeaWnp ant -
reared. showing an increase in gross Of
sIn5, 900, and in net Of $4,000,
The security market throughout the week
has been irregular, but strong and careful
Observers Of existing conditions do not
feem TO anticipate n dec!ded change in
the general oharacter Of the market for
some time to come. The crop outlook
still continues Il vora bic, marred only by
an excess Of rainfall in the Northwest and
by too little rain in some Of tho .middl,
parts Of the winter wheat belt, In certain
districts in this last named territory, par
tioularly In Kansas. there have been heavy
but scattered showers during the week and
a good soaking rain In the remaining sec.
tions is undoubtedly desired. Because OF
ell this, Western spectators were inclined
in the earlier pa 1T of the week to operate
LOT an uuVuIiCt III tIC iN hhi nv INV "
a fall in stocks: but their movement made
very little Roadway and the common belief
Is that the promise for the winter wheat
crop remains substantially uninpaired. In
the fore part of the week. toe, the disclosures
made in the course Of the Interstate Com
merce Commisson's investigation OF the
Pennsylvania Railroad Company manage
ment gave rice to more or less
l"t M tr,~F1aaatnr VnFfh nnn-
tioning was made thereby on the stock
market; and so far us the Pennsylvania
, Railread C~ompany's affairs were in any
way a market factor more attention than
ANYTHING else was directed to the Bile
results likely to accrue from tbs company's
sale OF $50. 900, 900 bonds to French bankers.
II this can DO taken in proof, rs it we'll
may he In degree at least, that tbs French
market has opened to our securities, n new
and potent element for good has unques-
tionably entered MO no financial situation
hore. The weekly reports OF the commercial
agencies and other trustworthy data con-
firm current ideas as to the stability and
prosperity Of general business. partio ularly
In the copper and metal trades. Railway
earnings are as a rule the best ever known
for this time Of the year and preparations
for the fall business in mercantile lines
are considerably above the average for the
season, Nothing but cheering news comes
as to the progress making in the work OF
repairing the DANA ge done by the great
disaster on the Pacific coast. a particular
source OF enooura cement in California being
the unusually brilliant prospect for the
crops in the State.
81 nAn~. ngA., M