New-York tribune., 1901-11-28
.Ex dividend
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock market values were strong and higher
in the greater part Of the day with net gains in
most issues a the close. The volume of bust
ness was light, but the character of trading re-
fected buying for the account Of substantial
market interests Commission house traders
were not active Despite the falling off in the
dealings as compared with the last few DAYS.
sentiment was bulsh throughout the Street and
in all quarters the impression prevailed that
prices would gradually work higher. with grow
ing public interest in speculation The approach
of the annual meeting of Congress generally
checks operations in stocks for a time. but Wall
Street is not counting disturbance in money
or stocks this year as result of the President s
message or Of possible legislation against indus
trial and railway combinations The mere fact
that the President will doubtless make some
recommendations regarding trusts has already
frightened timid public traders. This class of
traders. however. can exert no important in
fuence on a market that is backed by solid
financial and business conditions and controlled
by the wealth and capital of the country When
Congress convenes the market may be ripe for
a reaction If declines develop next week. good
buyers will stand ready 20 take all offerings.
Sterling exchange was higher, and Paris ex-
change on London declined. The demand for
hills was heavy, while the supply was limited
AT the close of last week it was thought that
foreign exchange conditions had turned for the
season against gold exports. but the develop
nnents this week suggest that further shipments
of the metal may be made A slight advance
here with a small decline in Paris will induce
experts to France. The fact that the recent
heavy shipments of the metal have had ef-
feet on the local money market naturally re-
moves all fear in Wall Street over the course of
the exchange market in the rest of the year,
and under present conditions it is. therefore, a
waste of time to argue that further gold ship
rnents viii be bear factors on stocks Money is
moving to the South in fair volume, but the
movement with the West is in favor Of this
centre. Higher rates for money will doubtless
prevail at the end of the year. incident TO the
preparations for the heavy January interest and
dividend disbursements Last year the highest
quotation for call money in December was g
per cent. despite the fact that the bank reserve
above legal requirements went low So
125. No higher rate than per cent is
looked for this year
Much OF the activity in yesterdays market
was supplied by the cheaper class of stocks in
cluding Southern Railway. Chesapeake and
Ohio and Colorado and Southern common. Deal
ings in the last named issue amounted TO over
270eo shares with net gain Of l point. The first
preferred advanced "a to %. and the second
preferred 1ss to 273s. The road is making ex-
ceTlent returns OF earnings, and il is generally
believed that coming developments in the South
western railway situation will have favora bic
influence on Colorado and Southern's position
New-York Central and Pennsylvania were re-
dictionary. closing at small net losses. In the
industrial list Anlalgamated Copper closed frac-
fionally above Tuesdays last quotation, while
decided strength was shown by Sugar Refining
and the United States Steel shares. Strength
in the steel issues was helped by the announce
rnent that the underwriting syndicate had re-
ceived the S25 100000 advanced at the time OF
the formation of the corporation, and by off,
ciai statement that the net earnings in October
were over S11 6eo0o0 In the bond market
heavy dealings and an advancing price were re-
ported in Mexican Central first incomes. The
general market closed with prices slightly under
the best Of the day.
THE DAYS OPERATIONS IN BONDS