New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-10-02
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Few important transactions were recorded In
yesterdays stock market. while no noteworthy
price changes Were made. At times a hardening
tendency noted, but in the greater part of
the day the movement Of values was irregular,
with more final net losses than gains. Commits
sion houses were not active factors in the trad
ing. AS rule transactions represented the
dealings of professional operators who based
their business technical market conditions.
1t is becoming evident every day that
there Is public support in the current specu-
lation and immediate prospect Of renewed
outside interest in the market. Although gen
eral conditions affecting the country's industries
continue to maintain their healthful position,
there various factors of passing Importance
that doubtless serve to discourage public buy
ing or vigorous efforts by the larger financial
interests 10 institute active bull movement.
Efforts have been made at times since the panic
of May to start bull campaign. but the lack
of response the part of public operators has
prevented any sustained upward movement.
Later in the fall conditions will be more ia
vorable TO speculative activity, and the chances
are that as soon money begins to accumu-
late at this centre the outside element may be
induced enter the market.
The possibility of money market stringency
will be avoided just long speculation re-
mains quiet. There are ample funds in New
York to meet legitimate outside demands, and
there is little reason 10 suppose that the in
terror requirements this month will wipe out the
present comfortable bank reserve above legal re-
quirements. The money market is safe while
handled properly, and the men in control in
New-York seem to understand their business
pretty well. Speculation at present is too mar
row to make important demands the banks.
The extreme dulness in yesterdays market was
doubtless helped by the absence of many Wall
,5,a
but the main cause came from the general in
disposition of outside interests to deal IN secu-
rites pending the removal Of the various So
called unfavorable factors. Splendid railroad
earnings failed TO stimulate trading although
the forecasts Of Union Pacihcs net showing for
August caused firmness in Union Pacific shares
Both Union Pacific and Northern Pacific report
ed large gains in earnings in August, Union Pa
cifc increasing in net $251 ,205, and Northern
Pacific. S323.512.
Heaviness in Sugar Refining stock was due
chiefly to sales by small operators, and not 10
any DEVELOPMENT affecting the company. A de-
cline is looked for in the price of refined sugars
this week, owing to the lighter demand and the
unwillingness of jobbers to buy largely at cur
rent quotations. Otherwise there is no expected
change in the sugar market situation. and there
are no developments in prospect warranting
movement in either direction in the sugar
shares In copper prices are steadily main
tanned but a decline is expected, despite the
evident determination OF the Amalgamated Com
pany TO hold if possible, the current high hg-
ures The foreign markets for copper shares is
more demoralized than the local market, al
though in yesterdays trading. both IN LONDON
AND Paris. a slight speculative recovery took
place Money rates were not materially changed.
but a firmer tendency reported in sterling.