New-York tribune., 1902-07-23
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The engagement on Monday of S1.0OO000
gold for shipment to undisclosed point
abroad gave the market little scare in the
last hour that day. small traders fearing
that it might be the beginning OF a movement
Of serious proportions; but 1t realized
that there was nothing alarming in the sltua-
ton. as in previous years there has always been
a moderate expectation of gold in July and as
the movement last month was very much less
than in any preceding June for several years.
The announcement OF another S1OO0OOO tenta-
lively engaged yesterday, therefore had prac-
tically no effect sentiment London was once
more extensive seller. although apparently
its selling represented arbitrage trading rather
than liquidation. and under pressure OF heavy
profit taking the early market moved irreg-
ularly and slowly. New-York Central was how
ever. from the outset strong and active and IN
the afternoon t6ere We're notable advances in
several other stocks. chief among them Rock
Island. New-fork Central opened y point up
at 1924. and before noon had risen to 1874. The
advance continued in the afternoon. on heavy
transactions. the stock selling up to 1851 and
closing at 1647s, net gain of 3k points. Rumor
variously ascribed the advance TO buying by the
Moores, with a view to securing control-a re-
port not new and not credited by many-on the
correlative theory to buying by the Vanderbilts
to avert the losing of control: to manipuIative
purchasing by a large operator often active in
the market, who is closely allied by marriage
with the Vanderbilt family. and TO accumula-
ton in anticipation of some announcement of
a refunding plan in connection with the Junior
Vanderbilts."
Rock Island began its rapid upward movement
at about noon 1t then selling, ex rights at
1925 only IA per cent above Mondays close
but in the next two hours it had shot up to 1877,
and early in the last hour touched 100. a sale
of LOO shares. Then II sold off a point at a
time. profit taking, 10 1885, the next sale being
at 1S2, and rallied from this level 10 1856 at the
close. The Rock Island rights" advanced to
13 in the last hour and closed at 11lh 1t has
been the prediction Of the Moore interests that
Rock Island would in the course of the present
movement sell at 200. and this prophecy was
more than realized yesterday adding to the
stock at 100 the value Of the rights" quoted
at the same time at about 121a. No news came
out TO explain the rise, but Rock Island often
has advanced without any development TO ac-
count for the movement The same thing may
be said of New-York Air Brake, which on sales
of 4 800 shares rose smoothly and unobtrusively
1912 points to 1S412. Amalgamated Copper. on
heavy buying orders, following the news from
Montana of the Minnie Healy mine injunction.
advanced to 6713 and closed 1k under that level,
a net gain of 3 points. The anthracite shares
were all strong. Delaware and Hudson advanc-
ing more than points. on news from the coal
region of preparations for resuming active oper-
ations in the mines and of growing sentiment
among the rank and file of the miners in favor
of returning to work. The crop news from the
Western country uniformly favorable, the
government crop report agreeing with the ad-
vices received from leading railway officials in
describing the prospect for corn as excellent;
and the market course of the granger issues
reflected these conditions. Hooking Valley
gained another point. on continued rumors of
the purpose of the Gould interests to absorb
the property. The United States Steel stocks
declined fractionalIy.