The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-30

thHfs VS. ~ ehan4r iuadaf Nv the ~'ad
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Ir..fr faHIrfa lu Reading s'urF s"rs
,r,. M ~ irr itiut t0f feature, ant in'lT"d
~ ~ n ~ rfatiet Proportion ~ w" total
v,Iureo ~ dealings ihso 'hev did veaf"fSsay
tu' there sts tgsin rpthlna fpnfe than the
circulation ~ nlf furnufs ~ acrount - Nhe
., vse,snt ~ Tho stuck Tho mornings
ur.,sfi IN rrlcss ,iid np, lsst vefv lone,
faaf tcioa ~ nsn, otly etprrsa~d that ~
hans madr frf sfock mafkef purposes w.
dav vp,ld carry uvet fn motruw leaving
ihc iarka only ore Inv ~ The fnrnth w
which ~ arrange fnr fhr t1ne I dialursr-
NJ ~ ard FOR no ]pa,trefta ialhrR no IN
syfdi,ntp urrfutiHta. there mtGht 10 tn~
iav aoulr httlu hurry Iu call uurev rates
Tho ~, ectoi FURRY did rot 'ih" place.
b. wryrr. ari tho varying prices asked fnr
III ..s. t.fI aYtNE.n NaaTTV1aV'a FYnrN
whom 'osnri tho cndor the div tho ease IN
III, morcv market wa thus dehrit"lv estai-
ltshad = moro cheerful forlirg naturally
ruled, and tho tuvinE In II speculative con-
tracts for the fall ua,m lily witressed tefore
a holiday was accelerated Tho Hdvar CO
waa hclred ~ u brisk rise In 81 Paul come
mon stock, which appeared 10 10 ca'ised ~
q grrernl impression that the time was rear
at hard wher an a. nnNrc einert would ne
made of the plan adopted 10y the directors
81 the 81. Paul compaNy for raising money
for it's Western extension. Up 10 this time
81. Paul has DERIVED the preliminary
eIIenses occurred in this project out Of its
own supplies Of ready money, enlarged,
doubtless, hv some private borrowing;
but II l. manifest that these expenses can
rot continue to 10 met IN this way and That
the road must provide itself with the large
sums OF morev that II now needs by the sale
Of either bonds or stocks, or, II may he. as n
ten, expedient. by the negotiation
OF short time notes.
The day was barren Of important financial
Developments and 10 doubt trading suffered
especial restriction by reason Of to-mor-
rows holiday and by realization OF the fact
II. 80 tIo Iau1ab m nd VhitatipfiHn
HOLIDAYS will serve to make the rest Of the
week in the London market of small financial
moment. Two million seven hundred thou
sand dollars was transferred here by tele-
graph to-day from San Francisco and a
portion Of the money was Immediately and
oonspicuously lent on the floor OF the Stock
Exchange for the account of L leading San
Francisco institution. While II would he
unsafe to base upon this TACT an assump-
ton that a heavy return movement OF
money from San Francisco to this centre is
now actually beginning, the incident was
none the less significant. Rates for the use
Of money are, Of course, higher in Chicago
and various Western cities than they are
here. and no doubt a large portion Of the
money returned from the Pacific Coast Will
| , diverted to these Western financial CEN
tres. Nevertheless, most OF the money sent
to San Francisco represented loans nego-
tiated with New York banks, and the most
natural way Of liquidating these loans
would seem to be to transfer the money
directly to this city through use OF Sub
Treasury facilities. Some varying reports
Of railway earnings we're made public to-
day. the Readings exhibit OF a deficit for
all its companies for April OF 81, 1877 ,9O7
showing the inevitable effect Of the recent
GOAL strike. The Southern Railways report
OF an Increase in gross earnings for April
OF $500 900 turned into a net decrease OF
nearly 5000, 900 was to be accounted for
only by the not unreasonable supposition
that the road has been spending a large
quantity OF its earnings Oh direct improve
ments to its property. A very strong state
ment Of the present position and progress
In recent years Of the Illinois Central Rail-
way Company, emanating from the presl-
dent of the corporation and published in
the mornings newspapers, was clearly
responsible for the strength in the market
to-day OF the Illinois Central shares. The
commodity markets were more interesting
to-day than was that for securities. The
speculative grain options were weak because
of better crop news, while in cotton the
heaviest slump seen for several months
occurred owing apparently to a general
closing out Of speculation for the rise in
A.ntufN tmiiR3
In the present month. The foreign markets
were more or less Irregular, a better feeling
prevailing in London and Berlin but weak