The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-26

Fagpas. Mar -
Whs'hsr ~ M M strength n to-day
maFts, 80 aua ~ aeemss ashsfaly
fhauaht Ia mo huvina IN ~ aignk ~ hNe
~ sf-eaiative eaagfHees rfeyi9t~iy ~.
isrst .nfp Nv No fen No fsiiyine psssf
~ NJ msfEst 80 apNafeHf sHgI ~ sffEha
utefet ma,s,uart sss fslfiy Feu saagaiesd
rnfl fhs fff.e N maiHes Tho Waftet
sfa Hnaey.t reFv professional HHd eui'ts
rlssp,N hHisss on rgrHpisfHst " = la'H "
r,rlhesa M %fsstufs n Ma mafaet ssa
~ Eas itr fasr yesterday 'hs advanre ~
Headlee sad M" athef hafd c0si s'ucba
fssesattlsus IN the RssHinH shafes slHne
a,urfnglns Nv eNe thirt n NJ tHys i"tsl
ertums N lfsdiHe \ vsfsnf N ~ s'efy
fHfentiy elFeHiafed w aecsuHf ~ ~ movs
asaHt In fblsUmf,er sssthut = 'tiiiiuu iuilHf
aapefssior w ~ isast q Hee e1fnrHny "
irnfnrnae cagifalgHgtus FHa ~ ~ fnffneh
faf tho tuffose n fakha 8vef IN" cstl
lsnda n al me eual caffying ftilfoHdR IN
eonaeUsenee n NJ laelala,tnu now pratt
caitv rssufed NJ Washington pruhihtting
itese falifoads after q certain daie ffo'r
flraiirg In coal ~ fef ~ tf~ss iralinRe 49,
s'iftr tho form n ifaNssciluha IN Interstate
ratnmetrs feopls IN authority deriei IN.
day ina, any stich plan was mcditaied and
suggested tha, hefore the eual railroads
Wesr pu, w any s,sch devices ~ cutati.
nationality n tho act ~ Congress In p,Ies'
ton would have ~ vindicnte itsrlf IN tho
Fed etaI courts Therr ~" many other
feasona that mist have occurred 10 every
=-nslble trrson hearing In mind recent
judicial decisions why thu tal@ was IN Ne
face, ~ fanciful character The story
however. appealed ~ IN" Wal street
imagination and. backed up a. " vas
hy heavy buying 10y large sTrcnlator-
resulted In . uuick rise before midday 81
g.. points In Reading common stock, making
u recovery ~ nearly thirty points In the
price ~ the ,tock since tho break following
the san Francisco disaster, TIN Erie and
other similar shares advanced sharply. aS
did the Great Northern preferred and tho
Northern Pacific stocks and the Colorado
Fuel and Iron. Consolidated Gas and other
shares In which fluctuations in price are
generally wide. Somewhat less residence
was displayed by the Amalgamated Copper
~. Paul, Brooklyn Rapid Transit and other
active stocks, but all those shared more or
less In the general tendency, After tho
moor hOuT on tne StOth bAtlhhh' oN'''NJ
in the market quieted greatly, and in the
main prices worked to n lower level until
the end Of the day. Nearly all tho stocks,
however in which dealings had been large re-
tanned the greater portion OF their ADVANCE
No little attention was attracted to-day by
the enlarged transactions in the bond mar
ket at higher valuations, although most OF
these were in speculative rather than in
yestment ISSUES. There was fairly heavy
buying Of the Wabash debenture Bs. Cold
RADIO Industrial Bs and Distillers Securities
Sc. Among the bonds of higher grades
accumulation of the Brooklyn Rapid Tran
sit IA was noticeable. All the Wabash Rail-
vay issues, either OF bonds or stock. were
active and higher to-day, reviving the old
story OF an issue Of new securities by the
Wabash company for the purpose OF re-
firing the debenture B bonds.
Aside from the story regarding the coal
stocks to which reference has been made,
the market to-day had to supply most OF
it's news itself. A more cheerful feeling
appeared to prevail on the foreign bourses,
and the Bank Of France followed the prec-
edent Yesterday set by the Bank Of England
in making a strong weekly rep ort of its
condition. London was a buyer of stocks
here to a moderate extent. The grain
markets fuctuated i%rregularly throughout
the day on varying news from the agri-
cultural sections. closing slightly lower
than they did yesterday. Call and m
funds for Stock Exchange use were again
hrmer, the strength in call money being
due, perhaps, to the fact that lenders
realized that payment will have to be made
next week at this centre Of s62, 900 900 in
preliminary subscriptions to various new
stock and bond issues that have recently
been put out. All the news from San Fran
cisco as to the conduct Of banking opera
ions there was favorable, n the fore
casts of to-morrow's bank statement were
also gratifying, inasmuoh as they indicated
a loss by the banks Of less than 5000, 900.
Whether or not there has been an expansion
Of bank loans during the week which would
entail a reduction OF the bank surplus If,
as is estimated, the banks ha We not gained
cash, is of course uncertain.