The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-27

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IN thH issf ~ dafa HHvs heeN N fh8f difrrl
lion efhHut accomplishing nush N Hftief
ms ihffe mHy .a falss fhefe nusl w. hHfefs
snt tts hFf ~ Nv Hot srpaaF Ftirss esee
w6tsef W #ifh = view ~ siiHgaistH4 o.
thustssia, but u 49, lstof IN tsgH iasgssf
~ H'ifartinH M iHefesssi hsfket fellaslnq
thH uHtiiNelv arfltfIv HfNVa faFr many N
ne ftRHisf ffe1Herfeff ~ eHnfafsstsN hSWses
Whe miahs, under ordinary circumstance
~ eSpefiea Nv contributes = far ahiefHt N
hu,lness A. N eoufse, M ohlsts " ~
hulliah manipulation gtp ~ selt steehs IN
the sdvsace. ihe feet tbHi no pHbte fefused
Nv tehe hoid Heshs that ~ bnl iHtefess
hsa faiHei litie NY ~ Heeftfstvs ersYa.
tlons, snd " may veil he questioned whethef
snotht4 hull eampaidh beginning ~ this
level eotld accomplish nv bstter fesii's
n Il nos \, M lmpfobabis that ths fersn,
hulllsh activity go suf incrfei WIN = view
~ Inc fepaymeni ~ frfelsn inaNa shleh
mature about fuiy T. The amount NJ fhcss
matufttics 10 In spps d%uafiefa heiieved ~
he very large. and In view NJ the probable
nreda fnf money Nv tho fEli n IL dSuhtei n
removals. could w. obt aimed except ~ a pfetty
stin int'fcs' rate There afe also VERY LARGE
amounts ~ O'hcr time money running into
the summer which viii becoue due lust ~ tho
banks are making their preparations for the
fail requirements and a. a time when tho
financial institutions will not he particularly
anSious 10 make time loans. and whom. ~
course II would hs dangerous for the holders
~ lmNwA sr4utap aT HVuNL IN AagaaA NAa
much on call funds Under the clrcum stances
u has apparently becu thoaght well to take
time by tho forclock and 90 some ludicious
dist ributiou NJ stocks. but the absolute re-
fusal of the public 10 lend u self for this pur-
pose has spoiled tho game.
There were plenty Of tips about another
bulltsh demonstration In the coming week
which had perhaps the effect Of asinR
short sales. but certainly did nothing ap-
preciable In the way Of encouraging pur-
Chases.
DISAPPOINTMENT was generally felt over
the bank statement, which showed a much
larger increase In the surplus reserve than
the trading element expected. The heavy
increase in loans caused by the activity
through the week and the belief that In tho
next few days there would be considerable
shifting OF money In connection with pay
ments on account of subscriptions to bond
and stock issues did not tend to promote
good feeling In regard to the position OF the
money market. which In the past few days
showed a hardening tendency both for call
and time FUNDS.
About the only real news Of the day was the
report. seemingly weilfounded, that a settle
ment Of the dihioulty in regard to Wabash B
debentures had been arrived at between the
company and the committee representing
Nhn hnldARa nf hn hnAda IFndos cha 1hAFN
of settlement as proposed the debentures
will be surrendered for 10 per cent, in new
4 per cent. fixed charge bonds under written
at IS. the bondholders further receiving q
bonus of so per cent. In preferred and a like
amount OF common stock, This basis was
regarded as favorable to the holders Of the
bonds TO be surrendered, and the Announce
ment was followed by a substantial advance
In their price, but the Street did not generally
regard 1t as a bullish argument on the stocks.
Considerably more than the usual activity |
prevailed In United States Realty and Inn
provement on account Of the success Of the
construction department Of this company In
securing the important contracts for the
building of the terminal stations OF the Penn
sylvania and the McAdoo tunnels. The
movement In the stock was apparently en-
gineered by one of the Western houses which
earlier in the week had been associated with
and isss sneoialiged obsraoter Tho com.
nant IN The moyement was that the stock |
Gould hardly be callad dear even M the nd
vanced price, but that In view OF the narrow
character OF the market the advance was not
iiLeiv N Interest tho nnhiio vary much
-
A~malgamated Copper was heavy through
70 diseuise the signi6cance Of this fact by
intimations that the real reason for the an
narsnt aoyIness NJ tho stock Inv in manipu.
iotion dosigned IN foster A short Interest
IT. waa said thai some huyinu could be traced
~ He,nze sources, hut r,mor did not concern
itself with the lnterestIna matter Of detail