New-York tribune., 1901-10-10
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Although the stock market exhibited consid-
erable irregularity in the day. the course OF
values was generally in the direction OF higher
prices At the close the greater NUMBER OF
issues showed net gains as compared with Iues-
DAYS final level. Speculative sentiment was
helped by the increase IN the Atchison olVloeno
rate to a per cent basis, and by reports thae
important market interests We're accumuialihs
stocks In advancing the dividend rate on the
common stock OF the Archison company the ol-
rectors have acted in line with popular expecta-
ton, but In many quarters the movement is not
considered a particularly bullish card on Atchi-
son securities. 1t is true that the road earned
last wear over per cent on the common shares
after x per cent on the preferred, but II should
be borne IN mind that all years will not be so
productive Of big traffic receipts as the last year
was, and that there may be some years wnen
the company will have a big proposition on It's
hands in paying interest charges M @ OF sneoo,sla
preferred dividends Of 50. 1oS,o9O and common
dividends of over S4,OpO,Oot.
The Brooklyn Rapid Transit report did not
show that dividends were yet IN sight, OUT lt
reflected progress in that direction 1t VIII
doubtless be a long time before dividends can be
paid but meanwhile the stock appeals to many
substantial interests as a good investment Tor
the future. The price is now many points unoer
the best OF the year. In yesterdays dealings
there was a good demand for the shares from
the shorts. while ii was reported IN Wen IN
formed quarters that Pennsylvania Railroad IN
terests had been heavy buyers on the recent de-
cline. Pennsylvania interests control the Long
Island Railroad, and many people believe that
the Pennsylvania interests VIII eventually be
come the leading owners or the Brooklyn Raplo
Transit system. The shares Of any company
that carries 394 152035 passengers a year ought
TO become sound investment issues. In 1884 the
Brooklyn car lines carried 1O4,OoO,oOO passen-
gers, as against the figures quoted for the last
fiscal year. Traction shares, like industrial
shares are not in popular favor at the moment,
but they may prove to be good securities to hold.
When Manhattan is electrically equipped the
stock may be worth many points more than at
present but at the current rate OF progress 1t
will be in the distant months before the steam
locomotives disappear from the elevated
In the railroad list transactions were light,
save in Atchison, Norfolk and Western and a
few other popular issues OF the induStrials the
chief activity was supplied by the Steel shares,
Amalgamated Copper and Sugar Refining. De-
spite the hard knocks that the industrial shares
have recently received they likely to be in
demand at higher prices in the next bull move
and Foundry shares doubtless did not know that
current earnings are just double what they were
q year ago, and that the falling off in income in
the summer will be more than recovered before
the end of the conpeny's year. The reason for
the reduction in earnings in the summer has
been freely explained in The Tribune. In Sep
tenber, October and November last year net
earnings We're about 500. coo, while this year
they will exceed 81 100000. An equally good
showing will be made by the International Pa
per Company, whose preferred stock is among
the cheap but attractive investment issues
quoted on the Stock Exchange Money market
exchange again strong. The stock market
closed dull, with prices under the best of the
day.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BoNDs.-Market steady. Final