The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-24
I'VAScItG ASB e0wsFAfI1G.


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cessed absp' q srsh 'se Ot~HtHa efi,es
~ sscehs gefs sIsuu' ~ rssferity aflef
nefn's ct1siua levei AMI asflNe ihe Aeg
hrrie N h,Iainr@s a,,Ne Improvement IN ma
nrsfh~' ereuffcd hu' ~ ttfvlns Nss ahlv
N ~ sams lafie4s aad fcahle aBfg thai
" hsa lsrn f9f many isys hNas anil Tho
HrHFhe' hhaiiy i~eth ~ isrilne eth srfua
fHridity, The ~iliua p~f~aa1rr fraoh~i lts
Insight stoftiy lefrtr ina laat ho,tr " btal
0"ss ami ~ thts Tina had sssved ~ bfihe
tlsfut rpnsidsrahle feeeaslnna In hestiy
al Tho srtive aiorhs The hard rial sinsha,
- Nss tha easH veHtertav, rraluled the
decltne rtufr ARMY than dld Hthef lsaiea,
snd for sofns unknown rsasrn lhsFr va
~ adVancH IN The Cniofado Ftiei and ffon
Shares during the entire t@fiod when the
hnafhe' vas Srah In Tho lata afternoon
9 rally took piaee. which waa, kowrver.
small In proportion ~ tho fall tina, pfs.
c-sicd u and which lsn quotations NJ tho
principal storka frbm ona tn twp Prints
lowrf than Yesterday
IA much ~ anything operating against
tho marh"t waa recognition ~ the fact
which -"emed ~ general among financial
Interests who we're confident In their opinion
that tho main tendency NJ the market waa
upward H' among those who maintained
that n downward swing was IN progress
that for the time i~ing AZ tho prevailing
level ~ prices public buying ~ securities,
whether ~ stocks or bond-, was only felt In
small quantity, II was held "a be altogether
likely that greater interest in the market
would In time be- taken II the outcome Of the
seasons crops was fortunate. II there could
he certainty that the current ease in money
rates would he permanent and n various
other still unsettled questions ~ this nature
were decided fatorably. But dtsappoint-
ment was still Expressed by ardent specu-
latorr for the rise that the outside public
seemed to be disinclined at present to adopt
other than a n~on-committal attitude IN it's
market views. THE suns foreign de-
spatchee to-day presented the most i'm
portant news that was offered 10 the finan-
cial community during business hours in
Ahe definite announcement that the Penn
sylvania Railroad Company had placed a
$50 900, 900 loan exclusively with French
bankers. The immediate market bearing
Of this was v~ariously interpreted, it being
urged, on the one hand, that another striking
instance was presented of the enormous
borrowing necessities Of the Pennsylvania
company. and on the other that the placing
Of the loan abroad meant a large addition
to our stock OF foreign credits. 1t was also
that the taking by the French
people of so large a block OF American
securities might prove to be the
beginning Of a long series OF similar in
vestments by them in future. Penn
stock was, at any rate,
better supported in the market to-day
it has been recently and closed at a
slight advance Other pleasing develop
ments were the news Of a general rainfall |
over Kansas and owe other dry sections
Of the winter wheat beltA which caused
q further break in the price Of wheat-and
the opening for business without difficulties
Of any kind Of the San Francisco banks.
trouble in this latter quarter was, how-
sver, looked for by any well informed per-
son. While the foreign markets were to-
day helped by the reduction, as expected,
the rate Of discount Of the Bank Of Ger
and by the renewed release of money
London, trading on all the European
was inactive and restricted, much
the same absence Of an investment demand
for securities being noticed there as here.
It is said that the new Indian loan brought
out in London has been poorly taken. In
the middle Of the day a story circulated
that the United States Steel Corpora
ton was about to make an issue of bonds
for the purpose OF providing money to COM
plete the construction OF the immense
plant that it is erecting in Indiana, and the
particular pressure in the market TO sell
was by some observers attributed to
he rumor. The story was denied, although
n guarded terms, by the chairman Of the
Steel Corporations board Of directors.
He stated that there was now available in
,ash net earnings Of the corporation set
lside for the purpose nance of over $15,-
900 and that II was, therefore, evident
hat no bonds need be issued by the
corporation sin the near future The re-
OF the coal strike were shown to-day
n the Central Railroad Of New Jerseys
eport OF a gross decreae in April earnings
u 1884 OCT, the decrease in net being even
A statement OF different character
vas the Chicago and Northwestern exhibit
a gross increase in April Of SITS, 224.
he relatively greater firmness that has re-
emily been noticed in the time money
market was again in evidence to-day, al
hough quoted rates for time funds we're
title changed.
RAILROAD AND OTHER BONDS.