New-York tribune., 1901-10-31
sEx rights
BONDS.
THE DAYS OPERATIONS IN STOCKS,

There was a fair demand for stocks in yes
terday's market. and in the greater part OF the
day prices were strong and higher. Comnis-
sion houses had increased orders. substantial
market interests appeared more disposed TO en-
gage IN securities operations, and the trading
eleme - was active the long side OF the
market. Reports that the Northern Pacihc
situation rapidly reaching satisfactory
settlement by the Great Northern, Northern
Pacific and Union Pacific interests were i'm
portant factors in shaping the course OF values,
while the general belief that the larger copper
companies had agreed TO restrict production
also assisted in the upward movement. Gold
exports had no effect the market. In addi-
tion 70 the gold engaged Tuesday for ship
ment further small amount OF the metal was
ordered yesterday. bringing the total ship
ments by to-day's steamer TO nearly S3,eoo.ooo.
The more important advances We're made by
the anthracite coal shares. These issues We're
in good demand from excellent class OF trad
ers and Il was generally understood that
prominent Broad-st. operator was actively
engaged in advancing the coal securities. The
position Of the coal trade has probably never
been better than Il is at present, both produc-
ton and demand being larger than ever before
recorded. Earnings In October OF the various
anthracite coal roads We're enormous ana al
indications point toward further marked ex-
Central made sharp advance on a small vol
ume Of business while Delaware and Hudson
and the Reading shares also enjoyed conspicu-
Gus Improvement OF the coal stocks, Ontario
and Western, Reading common and Erie com
mon ought to prove profitable speculations.
Earnings Of the Erie company, also or the
Reading for September, showed surprisingly
good results. Many of the so-called specialties
We're active features, and in a number Of cases
sharp advances were recorded Michigan Cen
tral again made a sensational gain. The up
ward movement in this stock cannot be traced
10 any known development affecting the COM
pany, burt il is thought that the buying may be
due to the increased value which the stock will
have the expected refunding Of certain
bonds which soon become due The other Van
derbilt shares were not active features. In
the industrial list Amalgamated Copper and the
steel shares were well supported. and fair de-
mand developed for American Sugar Refining.
international Pump strong a small vol
ume Of business. The last named stock is one
OF the attractive industrial issues that sell
ing many points under actual value. 1t is
per cent security, with the prospects OF higher
rate in the course Of the next few years.
In the foreign stock markets the effect OF gold
exports from here was reflected in higher prices
both in London and Paris. The European
money markets showed material change as
compared with the preceding day, while in the
local market money rates remained firm at
Tuesdays level Of quotations A number OF
loans were called in the day. RENEWALS being
made at "a per cent Money lenders appear
TO believe that higher range Of rates viii
develop before the end OF the week. The expec-
tatiOn Of higher rates does not, however. in
clude belief that there will be any disturb
ance IN the NeW-YOrk money market. Gold ex-
ports and the demand for money from the
South VIII doubtless cause material reduction
in this weeks bank reserve.