New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-03
Sex dividend
BONDS
THE DAYS OPERATIONS IN STOCKS

Stock market trading vas douhtless lhllue-e7''
nv SATURDAYS relatively favorable bank state
-nent which showed & big reduction IN hanlA-
ties Prices were strong il the greater part q
the day and. despite afternoon realizing sales
final quotations showed net gains IN the major
,+v Of issues There was fair commission
house demand while evidence Of buying for the
account OF substantial interests was not lack
ing The so-called Western element vas active
sn various parts Of the list with especially
heavy purchases Of Detroit Southern issues. II
IS said that the Glover Leaf interests want
the Detroit Southern property in order to secure
an outlet 70 the lakes at Detroit, where oolli2ee-
4ions can be made with the Grand 1runl- ana
Canadian Pacific Atchison was in excellent
demand: also Erie. Reading, Southern Faell-e-
Texas and Pacific Union Pacific, Pennsylvania
and Norfolk and Western. On a smaller volume
Of business Colorado and Southern issues were
features while all the attractive low priced
ISSUES were taken by good class OF buyers
The demand for Reading common carried the
stock to its best nriCe on record Competitive
t,,vin- was doubtless a. factor IN the upward
movement of this issue, although Senator Platts
statement that the coal strike would soon be
settled induced considerable speculative buying
cf the Reading securities. Il IS generally be
Teved that the Pennsylvania. interests are the
heaviest owners Of Reading stock, and that the
Vanderbilt. interests are merely buying to secure
g representation in the company. Reading COM
mon looks dear at its current price, but, OF
course, the stock is moving up in response 10 q
buying demand rather than 10 its actual worth,
Reading closed at 1855. net gain Of 55s points.
The first preferred gained IL and the second ia
All the anthracite shares were strong, Della
ware and Hudson gaining ia and Delaware.
Jackazvaana and Western s3I4. In addition 10
Reading number of stocks made new high
record prices notably Atchison, Southern Pa
ci6c Norfolk and Western and Baltimore and
Ohio Reading Baltimore and Ohio, Atchison,
Southern Pacific and Erie supplied nearly one
half of the days total business of over one
million shares Southern Pacific advanced on
pool operations In the industrial list there We're
many firm features, including American Grass
Irvine North American. Sloss- Sheffield, Amalga-
mated, International Silver, Corn Products and
the United States Steel shares. Colorado Fuel
and Iron started with sharp advance but lost
the gain before the close. The decline in Arleri
can Bicycle was due the failure Of the com
f,any 10 deposit the money TO pay the seni-an
r7lal interest on the bonds
Earlier in the season expectations Of strin-
gent money market this fall general The
fact that there a possibility Of serious none
fary disturbance led to preparations to meet
and avert. if possible. such development. local
bankers ard federal Treasury officers giving the
means TO satisfy the interior demand for money
without reducing bank reserves at this centre to
The danger point. AS a result of these prepare
lions the present monetary situation is much
stronger than it two weeks ago, while the
outlook presents nothing which uneasiness
may be based In the last two weeks hank
loans of the New-York Clearing House banks
have declined about S19o00000 This reduction
in loans has been accomplished despite active.
T1a-5
5s 10 be increas ed. and later in the season
gold imports will doubtless begin. The demand
for money yesterday not urgent Call
money was put out at . per cent. with excep-
fions as high 81 per cent, and borrowers ex-
,,erienced no difficulty in getting all the accom-
,1,odation desired on time from the trust COM
f,anies on ordinary collateral at , per cent The
anterior inquiry took 100000 through Sub
Treasury transfers.