New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-19
BONDS.
THE DAYS OPERATIONS IN STOCKS.

TIE DAYS OPERATIONS N STOCKS.
The dealings in the stock market yesterday
were on a smaller scale than Monday. there
being falling of in the total transactions of
nearly $1,000 shares. Considerable dulness was
IN evidence at the opening. but there were
slight advances in the majority Of the initial
quotations. There was soma disappointment
over the failure of prices in this market to re-
spond to the materially higher quotations for
American securities in London Early in the
forenoon the market developed reactionary
tendencies and at times was inclined to positive
weakness. Little interest was apparently taken
in the days operations by the Street in general
Transactions were almost entirely of a profess
sional character The course of the market con-
1inued irregular until the last half hour, when
there were further recessions in large portion
of the list. The market closed weak and al
pretty nearly the lowest figures.
In the first hour or less of trading American
Sugar Refining advanced nearly 3 per cent on
the hasty movements Of shorts to cover their
contracts. It viii be recalled that last week
there were various rumors in circulation Of a
bitter struggle between the cane sugar and beet
sugar interests and that American Sugar Re
lining stock was likely 10 suffer severely as a re-
ssfft It was even predicted in the sugar trade
that refined sugars would sell at / cents
throughout the country These announcements
were taken with grain Of salt by all familiar
with the erratic movements of American Sugar
Refining stock in the past II has been known,
however, for some time that the beet sugar and
cane sugar people are not the best of terms,
and lively contest with respect 10 prices. extend
ing over considerable period would not have
been surprising Yesterday morning, however it
was announced that all refiners had advanced
prices 10 points for refined sugars. Although
It Is understood that the American Sugar Re
filming Company has had a profitable year yes
ferday's sudden jump in the quotations for the
stock was generally attributed almost entire
~ 10 the covering by short interests The stock
closed AZ 1l71G. the same as the final quotation
on Monday night.
Manhattan again led the entire list with
spect 10 activity, the total sales being 1920,
only about $4,000 shares less than Mondays
large volume of trading. During good part Of
the day the stock ruled fairly firm. but at
times shared in the irregularity which character
lied pretty much the entire list In the late
transactions however, II gained renewed
strength on heavy dealings and shot up quickly
10 1924 the highest price on record this season
This sudden outburst of activity shortly before
the close. when the rest OF the market displayed
pronounced weakness was unaccompanied by
any fresh rumors. The movement would seem
TO bear out the theory intimated in this column
yesterday that the pool holds large amount of
stock and on a short interest, believed 10 be
OF considerable proportions is able 20 manipu-
late prices pretty much at its pleasure
The dealings in any other single issue in the
list were on a much smaller scale than those
in Manhattan St Paul was heavy, and closed
with a net loss OF 21s on transactions of little
more than 10000 shares. The dealings in Louis
VILE and Nashville did not reflect substantial
support Pennsylvania Railroad strikingly
weak The Rock Island issues ruled strong on
comparatively light transactions. In the Indus
trial list Amalgamated Copper received fair
support in the early dealings. but in the after
noon suffered maximum loss of nearly per
cent. The movements in Colorado Fuel were ex-
tremely erratic. 1t early advanced y per cent.
but later declined 3ls. then enjoyed quick
rally Of per cent which was followed by
fresh weakness, and the final quotation showed
a net loss of 3 per cent.
The United States Steel issues did not re-
oeive special support, and closed with fractional
net losses.
The banks continue TO lose TO the Sub-Treas-
ury. and S450fst0 was deposited with that in
stitution for transfer 10 san Francisco and
New-Orleans. To offset this there was trans
fer OF 100000 iron, San Francisco TO this CEN
ire The best informed financial interests con-
time to express the opinion that there win not
he specially heavy drain on New-YOrk by the
Southern and Western banks this fall. Call
money continued easy. and there was practically
nothing done in the time money market There
was little feature I'm the foreign exchange mar
ket, and the international banking houses were
mere confident than that gold would not
be shipped in any volume for some time
The early morning dispatches told of still
further Increases in wages by the railroads
Little has been said about the matter and no
formal action has been taken. but il NAV he
stated a fact that the officials of the large
railroad systems practically unanimous IN
the opinion that freight rates must be increased
II a higher scale of wages is 10 he maintained
for any considerable length OF time In fac,
one large Western railroad company has caused
20 be posted in its offices bulletin regarding
general increase I'm wages. I'm which Il IS spe.
cihcaly stated that the men cannot expect IN,
new scale 20 continue I'm effect long IL shlpper,
are not willing 70 pay higher tariffs The con
gestion OF freight traffic continues undated ans
the trouble now is not only lack OF cars bu
a lack OF tracks. The Pennsylvania has decide,
70 increase SIS number OF tracks between Pitts
burg and Philadelphia wherever possible othe
railroads are planning 70 DO the same thins