New-York tribune., 1902-12-30
BONDS.

F1rie gen s6ss > Cn Pac conT 5
MeT Cen LIST INC 245s = wis Cent gen As @29t -
THE DAYS OPERATIONS IN STOCKS.
The stock market on the Exchange yesterday
was quite IL keeping with the expectations ol
close students Of conditions that nave eAlsteo
for some weeks and that are neVloaple uli'
early next year Call money toucheo l." pei
cent but dropped TO q per cent. Inc Fullle
rate was u per cent. These few fgures are
sufficient to indicate the general trend OF prices
The initial quotations for stocks in the majority
10 cases were fractionally below the closing
figures on Saturday. Exceptions were noted III
the cases Of New-York Central, Atchison pre-
ferred. Louisville and Nashville, Texas and ia
cihc. Great Western common stock and Ana
conda- the latter opening up per cent, at 20
LATER however. it sold down TO 90. which was
she final quotation for the day. Amalgamated
c-onner was one of the most active stocks. the
total transactions being little more than forty
Thousand shares. The net decline Of = per cent
was not surprising. AS is generally KNOWN
pool has been operating in this stock recently
for higher prices. The positive denial by rep
resentatives of both sides that the reported ar
bitration plan is altogether without foundation
came as somewhat of a wet blanket on the
plans of the pool The best Information is TO
the effect that the litigation in its manifold
forms between the Amalgamated and Heinz in
terests is practically unchanged. According to
the latest reports there has been no special
change either regarding the copper metal sttu-
ation.
The transactions in Bro pklyn Rapid Transit
stock were on only moderate scale. at net
decline of a little more than 1 per cent The
operations in this stock have also been directed
ty a pool Not so much was heard yesterday
with respect to the familiar reports that con-
trolling interest in the company has been pur-
chased by the Pennsylvania Railroad The other
traction stocks were also quiet, with only frac-
tional net price changes The anthracite coal
issues were about steady. the net losses being
only fractional, except in Reading and Lacka-
wanna, which closed / per cent and per cent
lower, respectively than on Saturday. In view
Of the tremendous demand for coal, it is evil
dent that the earnings Of the anthracite coal
producing and coal carrying roads for, many
months to com, viii be limited only by the out
put of the mines and the ability OF the COM
panies to transport the product. The transac-
tions in Rock Island common stock were on a
larger scale than in any other single issue and
a net decline of 1la per cent experienced.
There was no news or gossip to explain the
activity in this issue. st. Paul was moderately
active and left off per cent lower. American
Sugar Refining, transactions Of something
more than thirty thousand shares. closed with
net loss of 4 per cent. Trading in the United
States Steel issues a small scale. The
total sales in Union Pacific footed UP 10000
shares at net decline of 1ss. This was good
showing in view of the effort that was made
10 depress the stock on reports of a coming
strike of certain classes of employees on the
Union Pacific and Southern Pacific 1t is not
lz14a
this connection. Among the notable net ad-
vances in the less active issues were 3s1 in Corn
Products preferred, . per cent in Jersey Central.
3 in United States Express > in United States
Rubber preferred. on sale of one hundred
shares, and 61z in Westinghouse. The market
was fairly active during the forenoon but in
the AFTERNOON was quiet, with the usual spurt
in the last half hour. The closing was some
what above the lowest prices for the day.
An attempt was apparently made yesterday
oy the bearish contingent TO make the situation
appear much worse than 1t really is As ALREADY
indicated. the rates for money the control
ing factor in the market. The banks are deter.
mined 10 discourage active speculation, and they
are thoroughly warranted in doing So in view
Of the coming January disbursements, which un.
douhtedly viii be the largest on record. All in.
terests in the market should be quite content il
prices are saved from marked declines Ad.
Vances should not be looked for. that is for the
next two weeks The situation throughout tbs
country is entirely satisfactory Bank clearing.
Of various interior cities for the year show rec
ord breaking figures. Louisville, for instance
reports an excess Of $4,000 600 over the opera.
tions of 1901 The corn crop is moving in large
volume, the steel trade as a whole is boomins
and the most encouraging reports are received
from all departments of business If operator,
in Wall Street viii wait patiently for the mex
two weeks barring unforeseen unfavorabl
events. they should enjoy a reasonably gooc
market after the money involved in the Janu
aTr disbursements finds its way into the regula
channels of business.
American Snuff preferred closed ~ per cen
higher on a single transaction in 100 shares
Continental Tobacco preferred was firm a
llol1- In the outside securities market Their
$40 There have been rumors that important de
Nelcpments were pending with regard to tn
American Snuff Company. 1t has also been re
ported that an announcement will soon be mad
regarding the affairs Of one Of the other tobacc
companies. The acquisition of the Henry Weiss
niger Tobacco Company OF greater import
ance than has been generally realized. Mexi
can Central securities again more active
and the prices steady. There has been quiet ah
sorption Of Mexican Central stock recently b
men prominently interested in Mexican enter
prises outside of the railroads of that Republi,
There is good reason for believing that an irr
portant announcement will also be made wit
respect TO the Mexican Central. when the none
psarket becomes more favorable In the mean