New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-20
BONDS.

Hook LIST ~. 1oa : 4 WABASH d Bs ~. s.
THE DAYS OPERATIONS IN STOCKS
The stock market to-day opened generally
lower. At times 1t was decidedly irregular.
There were frequent periods of declines and raj
lies On the whole. the general list was inclined
70 weakness, until the late dealings. when. ap-
parently Influenced by the sharp upward move
nent in the traction group a substantial rally
set IN which resulted in a recovery of several
per cent for many of the more active issues that
had suffered declines early in the day. ST. Paul
recovered nearly four points from the lowest
and showed a net gain Of . per cent. Among
other issues which close from 10 per cent
above the lowest quotations of the morning were
Atchison Union Pacific, Southern Pacific Penn
sylvsnis, Baltimore and Ohio, Reading. Mis-
sour Pacific. Canadian Pacific New-York Cen
traI and numerous other issues. The total trans
actions were in excess of 100000 shares. The
market = whole closed strong.
Manhattan was once more the overshadoWing
feature Of the whole market. Its movements
attracted even more attention than on any other
day since the present outburst Of activity first
appeared. Following the sensa tionaI advance of
The late dealings Tuesday afternoon, this stock
opened higher in the face Of generally lower
prices throughout the list. It shot up rapidly
20 $50. and higher extremely large transac-
lions The activity continued throughout the
day, and time the maximum gain of 914
per cent was recorded. The total transactions
were nearly 10000 shares. nearly 10000 shares
I'm excess Of Tuesdays total sales and about
quotation was 1927 which was the lowest fig
ure for the day. After advancing to 1513s it
closed al l49. d net gain over Tuesday night
of SIS
The Street received absolutely no Official or
what was generally believed to be even authori-
tative. information regarding the sensational
movements in Manhattan. In addition TO the
well known rumors regarding a guarantee by
the New-York Central and an increase in the
dividend rate at the next period, there were per-
sistent reports that the PETERBOROUGH Rapid
Transit Company DESTROYS of leasing the
property. Satisfactory information was wa Mt
ing on this point. well as on the others The
opinion seemed 10 be pretty generally held that
manipulation had more than anything else to do
with the movement. \ few facts are known
with respect TO the position Of Manhattan. A
powerful pool has existed in the stock for bout
Two years. The members Of the pool have prac-
ucally an unlimited amount Of money at their
command. As stated in this column previously.
this pool did not part with any of its holdings
during the recent slump in the general market
Naturally, during that time a considerable short
interest was created. II may also be stated
that the pool was not formed entirely for specu-
lative purposes There have been bids for con
troll Of the Manhattan property and the Gould
interests. IN order 10 strengthen their hold on
the stock. formed a pool According to the best
Information obtainable there is only a small
floating supply of Manhattan stock In view Of
these facts. even the sensational advances and
transactions of the last few days are not alto
Eether surprising. Later a general consolida
ton Of the traction interests In the city NAV
result, but 1t cannot be learned at the moment
that anything of a definite character along this
line has been accomplished
For a good part of the day MetropoIitan
Street Railway and Brooklyn Rapid Transit
were not favorably affected by the continued
rapid rise in Manhattan In the late dealings
however, both OF the former issues made
marked gains. At one time Metropolitan Street
Railway had scored z maximum advance of
b1s and Brooklyn Rapid Transit a.: naturally,
there were various rumors in circulation with
respect to these issues, but In this case also
nothing Of definite character was learned
further than that for some time there has OK
Rapid Transit Early in the day there were
ru'nors Of corner in Manhattan stock which
naturally adversely affected the whole market.
nese rumors in part accounted for the early
losses of which mention has already been made
II IS not fair to attribute the declines altogether
10 mis- cause. II must be remembered that the
monetary situation is not altogether satisfac-
tory 1t is believed. however, that this condi-
ZION Is only temporary, and the events of each
day show that the situation in the country at
large Is growing more and more favorable
Probably never within a single Wool L,o -.
many and so large advances in wages ~ rot,
road employees been announced as in tho loo.
week No one al all familiar with the -,
ncaly unprecedented prosperity OF this Count,
VIII assert that these advances are not -
ranteo by existing conditions and those I'LL,
10 exist for some time 10 come AS intinnatad -
ms column yesterday. the indications arc =,
Nressing daily that the railroads are nIa,,,ro
10 increase freight rates President Ramse,.
of the wabash. has made some interestir-
statements with respect To the Importance ana
what he believes 10 be the necessity Of sui
action by the railroads throughout the conn
Try. There saould be nothing alarming ga the
probability Of higher freight tariffs i'm view ~
the tremendous amount of traffic that Is heinz