New-York tribune., 1901-12-04
BONDS.
THE DAYS OPERATIONS IN STOCKS.

-
The stock market was strong and active in the
greater part of the day. with net gains IN 'he
greater number of issues at the close In the
-earfv dealings irregularty was the leading leat-
,,re h1,t in the subsequent transactions prices
eeneraIlv advanced under buying influenced p9
the Presidents Message. Net gains Tor the DAY
D-oud doubtless have been larger had 1t not oeei'
for a decline in Amalgamated Copper IN the las'
hour which had a sympathetic effect on lhe
entire list The decline in AmalSana'eo OoPPei
was based on a report Of Montana oeelSloi
vorable to the interests opposing the company
The stock declined to 71l@. the lowest price on
lrecord The close showed a slight recovery at
- a net loss for the day of IL points Else
where among the list of active securities ao-
sances were generally recorded, although the
r-,,axiy771,ro ioprovenlent for the day was onset
in the last dealings by heavy selling throughout
the list Manhattan. however. was an exception
ITO the general selling movement. its Closing price
being only small fraction under its best point
of fhe DAY Other noteworthy strong features
we're the United States Steel shares. Norfolk and
western Baltimore and Ohio. Rock Island Con
tsolidated Gas and a number of the Industrial
issues.
There was nothing in the Presidents Message
shat alarmed Wall Street. Indeed his remarks
on affairs affecting corporate interests were
reundlv applauded in every banking mouse IN
the Street And in fact, every Recommendation
In his message cordially approved pE the
financial community. President RooseVel Is
carving out the policy of William Mckinney
and in following the wise and conservative
course Of his predecessor he will find in all busi-
ness and financial circles hearty support encour-
aseunent and goodwill. Industrial combinations
are the outcome of industrial evolution in this
country and President Roosevelt recognizes that
-ha tendency Of the times should be controlled
only bv safeguards that protect the public inter-
ests and the public veal. He recommends pup
licity In the last few months Industrial COM
bnations have shown disposition to make pun
lie the results of their operations. and the pros
poets are that at no remote period the lndustrlal
corporations will publish frequent reports OF
their affairs giving the stockholders all legltl-
mate news Of their financial progress
According the best Informed opinion IN vail
Street based perhaps on the recommendations in
the Presidents Message, there Will be no I'M
portant legislation against industrial combina-
1ions at this session of Congress The greater
number of industrial companies have nothing to
fear for the simple reason that their organiza-
tions are not based conditions opposed TO the
Sherman Antitrust law. 1t would he hard to
find a company among the new industrial COM
binations that restrain trade or XIII competl-
lion In yesterdays market the industrial Sc
curities were strong and active as result OF the
treatment of trusts in President Roosevelts mes
sage to Congress. American Car and Foundry
stocks were bought by good class of traders
while there was an excellent demand for a num-
her of other well known issues The greater
number of industrial shares are selling well un-
der their actual worth. and the prospects are
that i'm the course of the next few months they
will he in demand at much higher quotations
Mary people have deferred buying these issues
;,ad1 ro1 Hrr1bi n q n
are to ne smashed by act of Congress. The
local money market showed material change
in yesterdays operations, while sterling ex-
change was tri1e lower. owing to offerings OF
bills against yesterdays gold engagements LII
IS generally believed that further exports OF the
metal will he made. but there is no uneasiness
in banking circles over the money market situa-
tion Money is coming TO this centre from the
interior and it is quite likely that the advance
in money rates in the last two days Will acceier-
ate the movement of funds from the West.