New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-25
RONDS
THE DAYS OPERATIONS IN STOCKS,

THE DAYS OPERATIONS IN STOCKS.
The movement Of values in yesterdays stock
market reflected active buying for the account
Of substantial market interests and Tor COM
mission house traders. Short contracts maze on
Saturday in the expectation Of decline on
,fon5ay were in many issues covered at loss.
Tn the greater part Of the day prices moved
toward A higher level with number OF net
advances at the close. especially heavy gains
V,ei,,g shown nv the local traction shares, Colo
RADIO Fuel and Iron. the Eastern trunk line is
s,es and the Rock Island stocks. In the early
afternoon dealings sharp buying movement
developed in Manhattan carrying the price 10
she highest figure reached IN the current move
,17ent All the other local traction shares al
,-anred in sympathy with the rise in Mammal
tan, while throughout the list active buying was
encouraged by the aggressive strength shown
nv the stocks just named. There were no news
DEVELOPMENTS regarding the Manhattan Rail
,,-av Con7panv but further positive statements
nora made in various circles regarding the pos
sibiitv of the purchase Of the elevated system
by the subway company. While 1t is pronable
that the transportation business IN New-Aorh
CITY viii eventually be controlled by one com
many n seems easier TO believe that the in
1erests identified with the Manhattan company
will absorb the stock holdings Of the other COM
ranies than that the subway company VIII be
the purchaser Of the elevated. It is not at all
likely that the Gouds have parted with their
control Of Manhattan: indeed, it is more than
1,robable that the Goulds have increased their
holdings. and that in conjunction with the New
York Central and Pennsylvania Railroad inter
ests thew viii in the future be the chief owners
Of the New-YorI street railway companies both
above and under ground.
Buy-ing of the Rock Island shares was prom
inent feature OF the days trading. The COM
mon and preferred enjoyed marked improve
1nent on a large volume Of business, purchases
being for the account Of interests identified with
the property and in the case Of the preferred
for the account of investors. The preferred
stock apparently is rapidly moving into in
zestors' boxes where it viii doubtless remain
for many years to come. In the early dealings
there were some efforts made to depress values,
but beyond minor reactions from the advances
made at the opening no declines of importance
were recorded. The professional element went
home on Saturday in q bearish frame Of mind,
owing to what it was pleased to call unfa-
vora bic bank statement. While it IS true that
the bank statement did not show an especially
heavy reduction in loans. the figures presented
nevertheless no reason for uneasiness over the
monetary situation. Reserve above legal re
ouirements showed a comfortable increase, max
ing the total reserve heavier than generally
recorded al this period Of the year. There is
much bearish talk regarding the money mar
ket. and il is apparent that few speculative
Wall Street interests not disposed TO en-
courage bull speculation in securities at this
period At the end of the year money rates
may rule temporarily higher owing TO prepare
lions for the January interest and dividend dis
hursements. Meanwhile, however, there ought
10 be no difficulty in securing accommodation.
There is an ample supply of time money availa-
hle for the market and there are Indications Of
cheaper rates for sixty TO ninety day loans.
Reports received yesterday from the West
showed no let up in the volume Of railway
traffic business. The enormous amount OF
business that is now being handled by the
rious Western railroads is reflected in the aver
age outgo Of loaded cars over any one road.
Take. for instance. the Burlington This com
pany's daily movement of cars from Chicago
alone is running from nine hundred To eleven
hundred. Such heavy business is causing q re-
markable famine in all parts of the country,
and as a consequence the car building com
panies are receiving rush orders for new equip
ment.
Railroad men believe that the shipment of
holiday goods this year viii be larger than ever
before on record, owing to the rema1 kably pros
porous condition Of the people in the West and
Southwest. well as in other parts of the
country The increase IN tTafhc has naturally
caused an increase in the cost Of operation, but
il VIII not be long before this higher cost will
he offset by advance in freight rates. Earn
ings are enormous at present, and it may readi-
~ be seen what rernarka bic results may be ac-
complished when transportation rates are
higher
In the late dealings prices reacted from the
best and in Manhattan a decline Of points
from the highest was recorded although the
final figure showed a net gain of . points
Strength in Colorado Fuel and Iron was belped
by the interest shown in the company by George
]. Gould. The interests of the stockholders will
be carefully guarded If Mr.. Gould obtains con-
troll OF the property.