New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-26
BONDS.
THE DAYS OPERATIONS IN STOCKS

Liquidation in yesterdays stock market was
due in great part TO the reported open rupture
between certain powerful interests in the COLO
RADIO Fuel and Iron Company Ordinarily con-
test for the control Of n property would not eX-
art an important influence upon the securities
market but in the present case the prominence
Of the interests concerned and their connection
with the railroad situation IN the West nat
,,ralIv create uneasiness in speculative cir
cles over the outcome. Perhaps Wall street
Is drawing a conclusion that will not be
borne out by future developments. Appar-
entity the Gould interests in the Colorado
Fuel and Iron Company are opposed to the
Hartman Hawley interests. but ii seems rather
absurd 20 believe that the contest between
The interests named for the control OF the
Colorado Fuel and Iron Company viii extend 10
the other properties in which these interests are
intimately concerned Colorado Fuel and Iron
stock made a sensational advance in the early
dealings, losing, however. part of the gain be-
fore the close. All of the Gould stocks were
weak. selling being induced by the theory that
the Colorado Fuel and Iron situation would in
volve all the Gould properties Mr.. Hartman
and Mr. Hawley are backed by powerful finan-
ciaI and conservative interests, and, Of course
they are able to make a strong fight for the con-
troll Of Colorado Fuel and Iron Interests Of the
stockholders will be well protected if the Harri-
man party obtains control II is unfortunate
that break has occurred. and ii is to be hoped
that an harmonious understanding will yet be
reached.
An alleged official announcement stating that
the Manhattan Railway Company would be
leased to the subway company exerted no ma
teriaI effect on prices. The Street was not dis
posed 10 credit the report, preferring TO accept
the theory that the subway company will pass
Of he hat
that the interests identified with the Manhattan,
New-York Central and Pennsylvania corpora
lions will eventually be in absolute control Of
the transportation facilities in New-York. In
the early dealings Manhattan stock enjoyed
sharp advance. although il lost the greater part
Of the Improvement before the close. In the af-
ternoon the speculative element professed great
Uneasiness over the Colorado Fuel and Iron stu
alton, and consequence il endeavored TO
depress prices throughout the list. Timid hold
ers parted with their securities, while cour-
ageous commission house traders put out short
contracts While the market was declining dis
patches announcing a settlement of the anthra-
cite coal strike question were received, and for
e brief period the market exhibited an advanc-
ing tendency. The price of Reading stock adj
vanced a point while elsewhere in the list frac-
tional Improvement was recorded. These gains.
however, were generally lost in the subsequent
dealings.
Local money market conditions are steadily
improving. Notwithstanding reports to the con-
trary. Time money is in better supply while
the rates are beginning TO exhibit easier
tendency. Efforts TO create an impression that
time money can he obtained only at excessive
rates are being made by people who are inter
ested in forcing the market for securities TO
lover level. but il may be said on the authority
OF. some OF the best known bankers in Wall
Street that borrowers can secure all the accom-
mediation desired at from 52l to per cent. Ster-
ling exchange irmer yesterday and the
usual reports of gold exports were heard. Gold
shipments may he made. This country is
in a position send gold to the other side if it
is needed there. but the chances do not favor an
important outward movement Of the precious
metal