New-York tribune., 1902-08-23
BONDS
THE DAYS OPERATIONS IN STOCKS,

Less activity was shown during the first hour
a. the stock market than on Thursday, but the
.one from the outset was firm. As the day ad-
x,anced there was some increase in ACTIVITY out
moi sufficient to bring the total dealings up 10
TIE record Of the two previous days Inc IAN
ing off in trading could not be attributed 10 'lle
far of any unfavorahle announcement IN the
next two days but in all probapllltF 10 'ile
natural tendency 10 reduce commitments mean
rho close of the week and before the actual he-
,,ras of the hank statement are made known
Although there was less speculation III 'he io
,,rdoad stocks that have attracted the most at
-ention of late, class they ruleo III H. ''4
some cases made advances
7, the active list Colorado Fuel was again d
sensational feature with an extreme decline 10
-3s. In the afternoon, however, the stooh
rallied 10 above a. and closed with net gam
fo- the dav of 1Is per cent. 1t is not peheNeo
,ha+ fhe public has suffered to any extent oN
recent sharp declines in this issue, as II must re
largely held by the two factions that are 'oil-
sending so vigorously for control Inc TahSa'-
.ions in Denver and Rio Grande were on a n1uCh
smaller scale than Thursday the total sales
teing only 1890 against over loo"" in 'he
-,re,,io,,s dav. Louisville and Nashville expert
enced pretty wide fluctuations on the contlnuea
absence of definite knowledge by the Street as
r+,, IN, 1be financier in whose hands the matter
,,oyr rests After declining TO 154$4, the stock
closed az 1o6.
Ontario and Western was the leader OF the
anthracite stocks. and was dealt in to the eN-
tent Of Ef. 800 shares. with net gain OF IS per
cent The Gould stocks were fairly active ana
closed fractionally higher than on THURSDAY.
Southern Pacific was the leader in the afternoon
market The house which is most actlNely COLI
ected with this stock assures its friends that IL
,,iu sell much higher Western Union was in
demand at higher figures. and was dealt IN TO
the extent of over 10000 shares. The steel
.+oct,s were firm. Sloss- Sheffield preferred ad-
z,anced %. per cent and Tennessee Coal and
Iron 16s per cent American Sugar Refining was
more active than for some time and enjoyed q
net gain of about per cent. The statistics re-
xarding the known movements OF money mol
cate a fairly good bank statement. The market
closed active and huoyant.
The one news item Of the day of first impor-
.snce was the announcement made by the dl-
rectors of the Southern Railway Company short
Nv before the close of business 1t had been eX-
,ecte5 that a seni-annuaI dividend Of 212 per
cent would he declared. This. of course, would
have terminated the voting trust. The fact that
The directors might fail TO declare the dividend
ar This time apparently had not occurred TO the
s+-ae- as the matter had not been even hinted
ar in any recent article on Southern Railway
matters 1t seems difficult to conceive how the
announcement can be construed unfaVorapF
from any point of view on the other hand' II
must be taken conclusive evidence OF the
faith of the stockholders in their property ana
.h.;r confidence in the management which they
have selected. and which has brought II up to
,ts present standard. The announcement Woulo
eee-o +a mean simply that the stockholders pre-
fer 70 take a smaller rate of dividend ana nave
-ba control o. the company centralized where
= has been since the existence Of the Veuhg
.- rather than have the trust dissolved and
-ba way thus made easier for the buying OF con-
.-ol bv interests that might prove to be an
..ponistic In some circles after the close o1
business il was thought that the acuoh OF lhe
-outbe-n Railway directors pretty clearly lore
eba6oxed the action that will be taken by the
pea6ine directors probably next week WIN
resnec1 70 the dividend OF their first preferred
stock.