New-York tribune., 1902-06-24
BONDS
THE DAYS OPERATIONS IN STOCKS.

r., ,.rl,e, trading WAS light in volume in
fhe greater number of issues on an lfFesuidi
movement Of values. In a few stocks heaNH
b,,ving was recorded. notably the "aodsh
shares Manhattan. Missouri Pacific ana he'o-
,,r 7, the Wabash stocks and debenture b
bonds trading was particularly active while
,,r,ces enioyed marked improvement over sat
urdav's final quotations. Interest IN "a"aS-.
a. a-,arertIx hased on the roads increased
-,:nee and its bright prospects OF SUN
heavier receipts through the company He"
Eastern outlet and through other deTelopnleil'S
that will tend enhance the Falue OF 'iie p''r
ertv The Could shares are all IN falr oefai'u-
Commission houses were not active IN the gen
eral list but despite the refusal OF the Pupi'
50 enter heavily into the market prices Tor 'He
leading issues advanced in the greater part OF
she dav Even the coal shares were strong
Reading sold as high as 6714 as against the low
,,rioa of 61 touched shortly after the declara-
tion of the strike. In the last h"ur uteii'ie>
,ra-e general throughout the list. and as a
consequence final prices showed more net losses
Than gains Sugar Refining. Manhattan. Kan
sas and Texas. Missouri Pacific Reading leA'iS
and Pacific and Wabash. which were leadlhs
active features closed at net advances In 'he
sndustrial list United States Steel common
Colorado Fuel and Iron and AmalsaTnated COP
ner were the weak features. The impression
weakness in Colorado Fuel and Iron fore
shadows the reduction passing Of the dlVl-
dend. While the stock is weak. the convertible
,,onds hold steady Although interest pay
.nent was declared the Wabash deben1ufe
n bonds at yesterdays meeting of the directors
the issue advanced point
Activity In Missouri Pacific stock is based on
the company's strong financial position. the eX-
cellent prospects for the crops in the MISSOURI
Pacific territory. and the possibility Of impor-
sant developuents affecting the entire Gould
system Earnings of the company last year
were equal to about 10 per cent on the stock,
while in addition the company had other income
aerresating 81 0g0tpe0 from the Texas and Pa
cific bonds owned. Earnings in the current year
ysu show results equally good, despite the
lighter movement Of grain, and if the crops
turn out as well conditions now promise the
company's Income available for dividends should
run we'll ahead Of last years record Missouri
Pacific while it did not pay dividends for ten
years was not compelled 20 seek reorganization
in the hard times following the panic of 1893,
ana its general financial record cannot be sur
passed by any of the Western roads Important
Improvement work is being carried through
out the company's line a trip over the road at
the present time reveals vast favorable changes
tn roadbed, equipment, etc. as compared with
ten years ago And the may be said of all
che Gould properties.
The proposed new road from Denver to Salt
Lake City will open up part Of Colorado that
has long been sorely in need OF transportation
facilities but the idea that il will seriously in
ferfere with the Denver and Rio Grande's traf-
SC is not founded on a correct knowledge of the
Western railway situation. The new road will
serve as a feeder other roads and ii will
help develop Northern Colorado 1t will not.
however be in a position to handle the through
freight traffic or divert important local traffic
from the Denver and Rio Grande. Colorado is
a big State and the Moffat road will three
hundred miles north of the Denver and Rio
Grande. The Denver and Rio Grande is con-
trolled by the Missouri Pacific. and, despite the
report that the Moffat people that the
new Los Angeles-Salt Lake City line will be
run in connection with the Denver and North
western 1t is believed in well informed circles
that the Gould system VIII control the Los
AngeIes-Saft Lake route. This would give the
Gculds a complete chain Of roads from the Pa
ciic TO the Atlantic
THE nays OpFR ATIONS IN RDEDS