New-York tribune., 1902-12-31
BONDS
THE DAYS OPERATIONS IN STOCKS

THE DAYS OPERATIONS In STOCKS
In snite of the continued high rates for cal
money. the total sales of stocks yesterday were
about 10000 shares in excess Of Mondays hg
,,res The record for the day must not be taker
as indicating fairly active trading Throughout
the oay for such not the fact. The opening
was frsctionally lower in the main and marked
duIness was the chief characteristic in the frs1
+uo hours The absence Of special interest dur
ing this period was largely due TO the fact thai
call money was held high as IA per cent
About noon. however, with lower money rates
and under the leadership of the Erie issues con-
siderable activity developed, and for the balance
Of the day a good business was done, largely 1or
the long account The closing was strong and
active
The movement in Erie was largely attributed
to -he fsyora bic statement OF earnings for No
ren1her The figures for that month, as well as
for October, were somewhat surprising to the
Street in view Of the continued reports that a
considerably less amount than the normal or an
tbracite coal is being mined and transported
The figures for both months also attracted at
tentIou in view Of the continued decreases IN
earnings reported by the Reading and Lehigh
Valley for October. II should be remembered.
however; that the Erie is trunk line, and that,
therefore. its traffic is much more widely di-
producing and carrying roads. Erie common
stock was easily the most active issue in the
entire list the total dealings amounting close TO
125oe0 shares. The net gain of ) per cent
made In this issue was about the largest enjoyed
t,v any of the most active stocks The trading
in Erie first preferred amounted to nearly l4.VoV
shares. at a net advance Of 21k, while the second
preterred closed 45s higher transactions in a
little less than 5000 shares. The other coal
stocks displayed marked strength. Iackawanna
closing 10 per cent higher on transactions of
only LOO shares. Delaware and Hudson made
a net gain Of per cent on small dealings The
trading in Reading common. IN full stock,
amounted to 3S,750 shares at net improve
rnent Of per cent. The second preferred was
also strong.
Aualgamated Copper traded IN to the
extent of 33 900 shares and closed Is higher.
There are still rumors Of settlement in the
near future OF the long standing differences be-
tween the AmaIgamated and Heinze interests.
II cannot be learned that there is any more
foundation for these ruTnors than there has been
at any time IN the last few months. Anal
gamated stock closed with net gain Of nearly
per cent. American Sugar Refining, deal
ings of little more than 10000 shares, left off
Il lower. The trading in the Traction stocks was
on moderate scale, and the net changes for the
day represented fractional gains. st. Paul en-
loved a net advance of is on total sales Of
5000 shares. Rock Island again an active
feature Of the market and made further net
gain OF ia. There were no new developments
in connection with the continued strength OF this
issue Union Pacific was also strong, but only
moderately active. There is good reason for be-
iieving as indicated in this column Monday,
that neither this company nor the Southern
Pacific will experience serious labor troubles
TT,s%a @a-es tool Gfao-n
were strong but quiet American Car and
Foundry, common and preferred, each closed Il
higher on small transactions.
The activity In Mexican Central stock con-
tinued. and there was comparatively heavy
buying by persons who have looked carefully
.nto the affairs OF this company and the value
TO It of the Republic of Mexico being placed
on a gold standard A dispatch received from
Washington, quoting representative OF the
Mexican Government saying that the ques-
ton of changing the currency standard Of Mex
ico TO gold is being officially considered, was
not news but was simply confrmatory of the
information that has been in possession Of close
students of the situation fer some time. 1t is
learned from private sources that President
Diaz and his associates giving a great deal
Of attention to this matterS and that they al
ready have plans well developed which will
satisfy both the silver and gold interests. Soon
after the publication OF the Washington dis
patch just referred to- and upon the placing of
buying order for 500 shares Mexican Central
stock shot UP to 252- The closing only
slightly below this figure. The first income
bonds of the company We're also in active de-
nand and closed with net gain of y for the
day
Outside of the references already made, the
news of the day was largely confined to rail-
road statements for the month of November.
That of the Erie has already been spoken CT.
In view of the extreme activity in the stocks
Of this company yesterday more detailed men
ton is timely. The increase OF nearly S500oo0
in gross earnings over the corresponding month
OF 1901 shows marked expansion in the CON-
panys traffic. while the increase of about
$ $4,000 in the operating expenses indicates
that the company is making small outlays for
permanent improvements betterments and new
equipment. The large increase in the gross
earnings for October and November has wiped
out the decreases incurred in July, August and
September by the coal strike, that from Juls
I 10 November 30 the company reports in
crease OF about $1,000 the corresponding
Period OF 1901.
Another important and interesting repor
was that of the Canadian Pacific for November
which showed gain In gross earnings of clos
70 100000 and in the net of nearly $4,000
The strength of this stock is not surprlsin;
reads s6ss. the SrSt i've