New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-22
BONDS.
LIE DAYS OPERATIONs Is sTOCKs

Stock market values moved toward higher
level throughout the day on active volume
Of business. There was a good demand for Sc
curities from commission houses. while buying
for the account of the short interest was par
ticularly heavy, the demand from operators who
sold stocks short week ago being an impor-
tant factor in the days upward movement The
slightest inquiry for securities was followed by
a lateriaI rise in prices. Dealings in the Gould
shares especially Manhattan and Missouri Pa
cific. were heavy, supplying, with the exception
Of St Paul the most active transactions in the
five hours of business St Paul was dealt in TO
the extent of over 100000 shares, closing at a
net gain Of nearly seven points. The advance
IN this issue was not followed by news develop
rnents affecting the property, but reports were
again circulated that the terms Of the proposed
new stock issue would soon be announced. the
character Of buying in ST. Paul indicated activ-
fly on the part Of interests associated with the
property. The new Rock Island stocks were also
important features, the common advancing over
one point. while the preferred on comparative
" light volume Of business closed at a net ad-
vance Of four points. Rock Island preferred is
now az q level that appeals to investors The
stock Of course. will eventually sell many points
above its present quotation, and according to
the opinion OF careful market judges purchases
made at the prevailing price should result in
handsome profits.
The entire list of stocks showed noteworthy
advances as compared with the preceding days
final figures. Manhattan declined in the late
trading several points from the high record
made in the morning. owing to realizing sales.
There was no official confirmation Of the re-
ports regarding the alleged purchase of the
Manhattan company by the subway company,
but il was generally believed. nevertheless, that
the consolidation Of the local transportation
corporations would be effected. In the industrial
list there was a good demand for the United
States Steel shares. especially the common. The
buyers Of the iron and steel stocks express the
greatest confidence in the outlook for the iron
and steel business. and they do not hesitate to
predict 4 continuation of the present prosperous
condition Of the iron and steel business in this
country and higher market prices for the stocks
OF the United States Steel Corporation. The
preferred stock Of this concern is selling at a
price that yields a splendid return the in
vestment. Industrial stocks in general are sell
ing at cheap level. At prevailing quotations
the greater number Of industrial issues are
more attractive than the railroad stocks, and the
chances are that in the next active bull move
ment industrial shares will sell many points
above ruling figures. The car building
pany stocks are well worth the attention Of
careful investors. Orders for new cars are being
placed by every railroad company in the coun-
try. and result of this enormous demand
for new equipment the American Car and Foun-
dry Company, the Pressed Steel Car Company
and the Pullman company have enough work
hand 10 keep their plants busy for year to
come.
The local money market is gradually developing
an easier tendency. According 70 the known
movement of money in the week, the local banks
have gained a moderate amount in cash hold
ings, while interior movements show return
flow from Western points to New York. Ship
ments from the New-York banks to the South
and West in the last week reached total of
s. 226 100. while receipts from the same points
amounted TO So 226 100 Time money put
out in moderate sums at per cent, while call
money ruled 4 per cent. Sterling exchange
was trihe hrmer. People who have good in
formation are not uneasy over the money mar
ket situation. as there is ample supply Of
money in New-York to meet all present require
n1ents, including possible gold exports and spe-
cial demands for syndicate operations.