New-York tribune., 1901-08-27
BONDS.
THE DAYS OPERATIONS IN STOCKS.


Dealings in the stock market yesterday
reached the largest total for any day in many
weeks. There apparently was revival Of specu-
lative interest throughout the list. especially IN
those issues which until recently have failed TO
show any particular activity in the daily opera
lions Prices advanced at the opening, and in
the greater part Of the day showed noteworthy
irnprovement over Saturdays last quotations
Final figures however. were under the best OF
the day. The reaction in the afternoon was due
10 profit taking sales. and Ia the operations OF
hig dealers who accumulated stocks several
,-aelxs ago In the majority Of issues net gains
reached fair proportions. only a few shares
showing net declines 81. Paul was one or me
few heavy features its last price oelng Wen
Inder the opening figures. The selling Of this
stock was thought 10 he due TO the uncertainty
over the conpany's dividend policy. The decline
in the afternoon brought out very little long
stock
The in,,,ro,eroent in sentiment and prices was
belned bv the better reports from the steel strike
district and also by the decision Of the Secre-
tarv Of the Treasury 10 buy government bonos
in This city without the formality Of having ap-
nlioations made at Washington. This was
thought TO reflect willingness on the part OF the
National Treasury TO assist the local money
market IN case OF any trouble al this centre this
fall The demand for currency from the west
showed a marked increase. and reports from
Chicago indicated that from S2.Noo"o TO s"'-
0pnu0e would he taken from New-York this
week for Western crop movement purposes
The movement Of currency TO the West will
rrobablv be as heavy this year as in other crop
seasons but there is no reason TO believe that
the Western inquiry viii cause any particular
disturbance in money rates al this centre II
the price Of money advances gold imports VIII
certainly be made There may be short PERIODS
when stock market traders will have TO pay a
high price for accommodation. and at times
there may be forced sales Of stock, owing TO
money market fluctuations. Such conditions
generally occur in the fall, and il will be nothing
novel 10 see the usual losses among SPECTATORS
who buy stocks small margins.
The railroad list furnished the chief activity in
the dav's trading. There was good demand for
Atchison Erie issues Missouri Pacific Norfolk
and Western. Ontario and Western, Pennsyl-
vania the Reading shares, Southern Railway
Southern Pacific, Union Pacific and the Wabash
issues In the Industrial department activity
was confined 10 the United States Steel shares
which showed advances of rs points for the
common and a fractional advance for the pre-
ferred. The steel strike situation shows marked
improvement, and il now appears wholly i'm
probable that any further progress viii be made
ttv The United States Steel Corporation has
made a fight that should protect il from further
trouble with its employees. Assuming that the
steel strike is virtually settled, the steel shares
sppear cheap at their current level Elsewhere
in the industrial list transactions were small,
but in a number Of the more attractive issues
there was a good investment demand. This was
especially pronounced in International Pump
common and the international Paper securities.
International Pump is a per cent dividend pay
ing stock selling under A. Its price is many
points under its actual worth. and the chances
are that in the course Of the next few months II
will sell well above its ruling quotation. AS a
rule the industrial stocks are cheaper than the
railway shares especially in the case OF the
stocks already mentioned, American Car ana
Foundry issues and Peoples Gas.
Railroad earnings received yesterday for the
third week in August showed remarkable gains
over the same period a year ago. improvement
was not confined 10 any one section OF the coun-
try although the Southwestern railways eK-
hfbite6 the greatest gains Missouri Pacific pre-
sented an increase of $4,000; Wabash S43.OtO
Central OF Georgia, $4,000; Missouri Kansas
and Texas $50. .664. and Louisville and Nashville.
S44 Sl5 The movement of grain in the last
week was slightly under the record Of the week
preceding but well above the same week year
ago The foreign demand for American wheat
continues heavy. and in the last three days an
active inquiry for corn has developed. For
eigners will not be able 10 secure large ship
ments Of corn from this country this year, but
the loss corn exports should ne onset py the
Increased movement of wheat
-rr,r- nAyrc npEP ATOMS IN RONDS