New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-27
STOCK MARKET OPERATIONS.


total transactions amounting 10 only "osS<S
80. ~ which the greater part was supplied
nv T-rton Pacific Reading and Amalgamateo
Conner. In the early dealings the general mar
ket was strong under the lead OF Union Facllc
and Reading while IN the afternoon the greater
number Of issues followed the stocks haiheu
toward q lower level. final prices showing net
losses in most shares. Strength IN the gram
market due TO further adverse reports reedru-
ing the condition Of winter wheat was III sieH'
mart responsible for the reaction from the
r,,orn,np,s advance. but the selling failed TO
bring out important offerings or 10 inject any
life INTO speculation. OF the total dealings
OBJ 900 shares were furnished by Union Paclhc
and Reading and though brokers representing
important interests were active in these TWO
issues there no public response 10 Ii'e
,oovernent and little interest manifested in
the revival Of the story that a holding company
would be organized to take over the securities
If the Hartman companies in order to prevent
action against the stock control OF SOutheI"
Pacific by the Union Pacific Dull days have
come upon the Street far as stock market
speculation is concerned, and people who can
find nothing else TO do are manufacturing the
sort of stories which generally do not develop
until the dog days arrive. While no EFFORTS are
being made 70 bring about an active stock
speculation. houses with grain connections are
working up a good following in the grain mar
ket. and it IS not unlikely that dealings on the
Chicago Board Of Trade and on the local Prod
nee Exchange will increase II crop damage TO-
norts continue to come in. Whatever winter
wheat is damaged at this period beyond recall
will be offset 10 the farmers by bigger corn
harvest, as the winter wheat acreage now de-
gtroved can be sowed 10 corn. The days losses
in stock values as rule were confined 10 frac-
tions. St Paul. Amalgamated and Northern
Pacific being exceptions at net declines Of more
than point Union Pacific closed points
under its best price and at net loss Of "a while
Reading. which sold down nearly lSs points,
enaed the day unchanged compared with the
final quotation in Thursdays market. Among
the favora BILE features of the day which received
little recognition the Stock Exchange were
the material Increases shown in the net earn
ings Of the Atchison and Rock Island systems
for the month of March
In the three months ended March 81 the rail
roads of the country showed as a rule. declines
IN net earnings compared with the CORE
spending period last year. and for the nine
months Of the fiscal year the roads reporting
presented increase I'm net of trihe more
than per cent, against Increase in gross
Of per cent. Gross earnings continue to
hibit improvements in all parts Of the country.
and II IS expected that net results in the current
month VIII be better than those recorded in
the first three months Of the year when weather
conditions were responsible for large increase
in the cost of operating I'm the territory served
by the roads reporting declines in net returns.
Railroads reducing expenses In many cases.
but they are not decreasing their facilities TO
handle traffic. and at no remote time they will
he able 10 come into the market for money
bonds stocks rather than note issues
high interest rates for new building, which re-
Gently checked by the stringency OF money
throughout the country and in Europe. The
idea that there is 10 be falling of In net earn
ings large enough TO jeopardize dividends IS not
we'll founded. but this theory doubtless will run
on in speculative circles until results reported
by the railroads show that the falling of in
net in January. February and March was due
| 10. conditions that were not permanent. In the
first week in April gross earnings Of forty-two
roads increased u per cent, in the second week
! gross earnings OF forty roads increased 13 per
cent and in the third week twenty-one roads so
far reporting presented an increase Of 16 per
| cent, comparison being made with the same
/ time IN 1906. From now Oh the proportion OF
| increase ought to be larger. as weather condi-
| tons are favorable for the moving OF traffic
while the railroads are receiving new equipment
more freely.
Railroad earnings and bank clearings show
no depression in trade. and the reports Of the
| commercial agencies received last night cover
ing all sections OF the country do not suggest
| the development IN the future OF distress
ing conditions in the mercantile community. de-
spite the fact that there prophets of disaster
IN the land. The latter are getting much ems
enlargement from the colored reports from crop
experts" who say that bad weather and green
bugs have destroyed the winter wheat CROP and
that the bugs are multiplying in a most prolific
manner and are organizing for a grand attack
upon spring wheat. corn and all other food
products. The majority OF people. however, are
obstinate enough 10 refuse 20 become excited
over the bug question, while they are brave to
the extent OF asserting their confidence in the
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