New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-07
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market showed some evidence OF &C.
ttv1ty in Wednesdays trading. but yesterdays
transactions reflected a relapse 70 the dulness
that has 50 long marked the course OF securities
operations Prices held fairly firm. but efforts
were not made TO advance values A few stocks
furnished the bulk Of the days business Sugar
Refining. PEOPLES Gas, Southern Railway pre-
ferred and Brooklyn Rapid Transit supplying
over one-third Of the total sales. There was
little in the days news that afforded sufficient
stimulus to speculative trading either side OF
the market, although in railroad earnings and
the known conditions affecting the actual worth
OF securities investors had adequate reason for
taking good securities at ruling quotations.
Railroad traffic shown by reports now COM
ing TO hand. is surprisingly heavy, and railway
managers are confident that the transportation
business this fall will show no reduction as
compared with the corresponding time year
ago.
The anthracite coal stocks were heavy. owing
70 the prospect Of serious strike among the
miners If current threats are carried out a
large proportion Of the anthracite miners will
be idle next week, and, in consequence, the coal
trade may be seriously crippled for time, while
the income Of the coal carrying companies will
be temporarily affected. It is therefore nat
ural that speculative holders Of the coal stocks
are alarmed. and It VIII not be surprising If
some liquidation takes place in this class Of
securities But Il is not likely that the strike, If
Il takes place, will impair dividends or that
investors in the companies concerned will deem
It wise to convert their securities into cash 1t
is too early to predict the extent OF this pros
pective strike or its probable influence upon
properties not directly interested IN the coal
trade, save as consumers, but It does not appear
possible that cause, which is not backed by
good reasons for complaint will have more than
temporary success From ali that can be
learned labor is uncommonly well treated at
present in the coal fields, and strike at this
time will certainly not attract public sympathy
or public support Jersey Central and Reading
first preferred were sold by traders, but there
was no evidence OF investment selling in these
issues, or IN the other members OF the anthracite
group.
Peoples Gas stock is attracting considerable
speculative attention, owing TO the so-called gas
war that is now in progress in Chicago. The
Ogden company has made a further cut in
prices, and the Peoples company is using the
new Municipal company a club to frighten
the Ogden company-to compel it to go out OF
business or TO open a way by which it may be-
come a part Of the Peoples system. The result
upon dividends of the recent gas war in New
York was disastrous. and holding this in mind
bear traders are selling Peoples Gas stock short
with confidence. The Ogden company never was
a formidable competitor to the Peoples COM
pany. Its resources are not large and its
chances Of success against the Peoples oom-
pany not brilliant. Buying OF Southern
Railway issues attracted some attention yes
terday. and reports were heard OF an increased
dividend rate for the preferred It was said
that the demand for Louisville and Nashville
came from the same sources the buying Of
Southern Railway. a sharp advance In cotton
hall fbe 4rop aad az
shares were heavy, but final changes were I'M
important AS rule, last prices were under
the best Of the day. the market closing dull and
uncertain A sharp decline in sterling exchange
and IN domestic exchange on New-York was the
chief incident Of the money market.