New-York tribune., 1901-11-08
SEX dividend.
BONDS.
HE DAYS OPERATIONS IN STOCKS,


The stock market was strong and active in
the greater part OF the day, with transactions
again exceeding one million shares. Sentiment
was buIlish in commission house circles. and the
Street was filled with various encouraging re-
ports that were evidently put out for the pur-
pose Of attracting active public support The
chief real bull points of the day were the re-
ported progress in the Northern Pacific affair
and the heavy purchases Of government bonds
by the Secretary Of the Treasury. The action of
the Secretary Of the Treasury in again accept
ing offers OF bonds Will, it is believed result in
heavy tenders. both in this city and in Wash
ington There were no gold export engagements
made. but it is likely that round amount OF
the metal will be sent out by next weeks steam
ers The gold export movement, however, has
apparently ceased to worry the Street, owing
to the developments in the money market. which
have offset the influence Of gold shipments. The
hank statement that will be issued tomorrow
will doubtless show decline in cash holdings
but it is not thought that the reserve above legal
requirements will be materially reduced
The fact that interests connected with the
Northern Pacific situation held important con-
ferences yesterday led to the belief that an an
nouncernent regarding an agreement would soon
be made. Heavy buying orders of Union Paclhc
anc St Paul were executed for commission
house
heavy enough to prevent a gain in the prices
Of the two issues. Indeed, both stocks closed
lower St Paul showing a substantial loss 1t is
likely that insiders were heavy sellers and that
a large amount of ST. Paul and Union Pacific
as well as other high priced railroad stocks,
found their way into the hands OF the so-called
public Northern Pacific preferred also was re-
dictionary OF the other high priced issues, inn
portant dealings were recorded in Pennsylvania,
Naw-York Central Atchison and Metropolitan
The advance in Atchison and Pennsylvania was
followed by renewed reports Of a coming alliance
between the two companies An officer of the
PENNSYLVANIA Railroad denied that Pennsylvania
interests mad accumulated Atchison stock, while
people identified with the Atchison company
stated that the advance was due entirely to
the roads enormous earnings and its prospects
for a heavy volume OF traffic throughout the
year The selling OF Union Pacific, St Paul and
other Investment issues created belief in the
same circles that the current activity in the
market had reached its limit for the present
This view however. was not generally enter
tanned and at the close Of business predictions
of higher prices were freely INDUCED in.
Foreign houses sold the advance. putting
out bout thirty thousand shares. There were
moderately heavy sales Of Northern Pacific,
IT-1;on Pacific and Southern Railway for foreign
account. but the offerings fO0nC READY buyers III
the local market especially for Southern Rail-
way which again made progress toward a
higher level. The advance in this stock was
also accompanied by reports that Pennsylvania
interests were buying. Southern Railway shares
are entitled TO better prices on their merits, and
In view of the probability Of a , per cent diVf-
derd rate on the preferred at no remote period.
both the common and preferred appear to be
excellent purchases at prevailing quotations In
the last hour New-York Central was a feature;
also the Reading shares.
In the Industrial list the United States Steel
shares were strong a fair volume of business
IT was thought that the so-called Morgan inter
ests were buyers. Amaigamated Copper was
extremely irregular, but il closed tr1fe above
Wednesdays last quotation. The foreign mar
lets showed no material changes The local
market closed with prices near the best OF the
dav Commission house business appeared 10
increase in The afternoon trading, and, despite
heavy realizing sales, prices. except In ST Paul,
Trnion Pacific Metropolitan and few minor is
sues made steady advances. In the bond mar
lxer trading was extremely heavy, especially in
the Union Pacific convertible As and Wabash
deDenture Bs-