New-York tribune., 1902-08-22
BONDS.
THE DAYS OPERATIONS IN STOCKS.

General strength characterized the opening
and first hour Of the stock market Mater ia
advances were even made in some issues II
was soon apparent, however. that the degree VI
buoyancy which ruled on "Wednesday WAS iio'
likely to be experienced in the days oealiilSS-
The early reaction was slight, and near the mum
hour there was something of rally In tiie
afternoon. however pretty general pront 'ahiiis
resulted in declines in many or the ISSUES IA
which speculation had been most active OF i"te E
The developments at Denver on "Wednesday in
connection with the proposed annual meeting VI
the Colorado Fuel and Iron Company causeu
soroe uneasiness apparently among the holders
nc .he common stock and on heavy SeIllhg II
-.acted TO 40 ~ per cent below the high price
for the day The day closed with a net JOSS VI
Z per cent It is not unlikely that the losses
sustained by reason of the sharp declines OF tie
last few days in Colorado Fuel led TO Selling
of other issues in which a reasonable proh'
could be obtained. Undoubtedly recent PuI-
chasers of Louisville and Nashville were saIis-
fed with the sharp advance made IN thS Stoch
in the last few days. and decided to part WIN
,ba;r holdings 1t is also probably true that
among the highly speculative interests there
was some disappointment over the fact that no
announcement was made early In the day re-
sardinp the final disposition Of this property
The NET loss in Louisville and Nashville for the
da, was 2 per cent on transactions OF ABOUT
81 600 shares Nashville. Chattanooga ana St-
1ouis declined sympathetically to the extent oi
3lL per cent. The other declines In the Hst'
,.bile in excess Of the advances. were hdrois
more than fractional for the most active STOCKS
Denver and Rio Grande common led the list
In point of activity being dealt in TO the extent
of more than 1oaoe0 shares. In the early heai-
,n~e the stock displayed considerable strength
PTNr
anthracite coal shares were active and higher In
the early trading. Reading was much more III
demand than on Wednesday Ontario ana
,uas+ar, was again active and showed further
advance ending with A net gain Of Is per cent
Tho onerators once more stated that there was
No change in the situation so far as tney were
concerned Western Union, with the exceplioh
of Colorado Fuel and Iron, led the industrlal lls'
with respect to activity, the total dealings oeliis
~ 600 shares. This stock enjoyed net gam Vi
I ne- canr American Telephone and Telegraph.
On conaparatively light dealings. advanced per
cent Rurnors were again in circulation OF d
coming combination of the principal telegraph
coro,anies The United States Steel stocks were
fractionally lower at the close whie 'ios'-
sheffield advanced 31a per cent and closed at
.he highest figure for the day Tennessee Coal
and Iron sold off / per cent The stock market
lowest prices for the day
When the market began to show yielding
tendency the bearish element endeavored 10
convey the opinion that serious decline IN
r-ices was about to be experienced; but thal
nothing of the kind developed during the day
.he records Of the transactions show 1t was
rointed out that money had already begun TO 20
20 the interior and that soon the local money
market would be much higher AS a matter
Of fact the only shipment that has come 10
light SO far is 100000 TO Cincinnati On the
other hand money from interior points is pelng
lent freely in this market Undoubtedly there
was considerable buying on Wednesday by WIG
eneculators who assumed that a few hours after
Mr Morgan's arrival at his office all the Vari-
GUS questions that have been awaiting MS
action would be settled On what they were
rleased to call disappointment over the absence
of an announcement any Of these matters
they sold stocks; hence much OF the decline In
prices The reaction was in order. and wei
coined by conservative interests, and was not
due tc any unfavorable feature in the general
situation