The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-25
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Taeaseas Mar 20
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and ihia I'D Nv FINAL nst aalhs In prizes o.
laFee ard ~ nufuefu,faIy Distributed ~ tn
deciiwss that sefr shown Yesterday The
days otsfatioes eahlbited no Wtle cne
fusion NJ sentiment on ths part N thrhahitua
ally trading elemant Many ~ thea- orer.
atoFp changed their speculative p%uaitlon
several tinses In the euufsr ~ the day and
iHaily confessed themselves ~ unahle
10 form an opini1n whsther the geneFnl
tendency In tho market was upward or
downward. Yesterday q broad p~es-imlatio
feeling among sTeoula,ors ~ this ~oft VIVA
very noticrahls, To-day the tclief -nsmsd
Nv prevail with n good portion ~ their nutn-
her that the Reading common shares were
In a way ~ rerrat their SENSATIONAL per-
%forrnHnccs ~ laa, winter and that q vast
deal Of some kind was PENDING among
the hard cual stocks The only definite
story current regarding this supposed
transaction was the one that has been heard
in Wall Street for about a week past. that
some II the coal carrying railroads would
place their coal properties In the hands Of
separate organizations. thereby making
In effect a distribution Of the equities repre-
sented In these lands. But In the case Of
many of these railroads such disposition
has already taken place and in the case Of
others the operation, 80 far as the facts are
known, seems hardly allied for.
Actual news bearing upon the market
to-day was in as slender quantity as Il was
yesterday. The success Of the Pennsyl-
vania Railroad management in making a
loan in Paris was more talked about than
anything else as a favorable market in
huence. Much optimistic faith centred
upon the probability that the circumstance
meant that the thrifty French pocket
book" had been opened at last to invest
ment in American securities, and IL what
has happened is indeed a prelude to a general
run Of purchases of this sort il is unques-
tionably the most significant financial
development of the year. Call money
rates were somewhat higher to-day, though
irregularly 80, than they recently have
been, and less time money was again re-
ported as offered. All the foreign markets
save those Of London were closed on ac-
count Of the Ascension Day holiday, but
in London a favorable impression was
made, naturally, by the Bank of England's
strong weekly report showing a proportion
Of reserves to liabilities of ALI. as against
Il 40 last week. The banks reserve, how
ever, is still low for the time Of the year.
One million -four hundred and seventy
dollars was received to-day by tele graph
from San Francisco, but this undoubtedly
represented in greater degr,e the ransfer
to this city Of the Australian gold newly
laid down on the Pacific coast than any
return Of the money recently sent from
here to California. The local banks pc port
up to date for the week a loss of nearly
s. 1000, 900 to the Sub-Treasury, but whether
this is a real loss or, as it was found to be
uncertain. The grain markets were at
first weak to-day on account of re newed
selling caused by the rainfall over the
winter wheat belt, but again turned strong
and retained their advance Upon state
ments that the rainfall had been light and
that the drought was still severe in portions
of Indiana, Missouri and Ohio.
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