New-York tribune., 1902-12-02
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock. were strong the greater part of the
day yesterday. on q moderately active volume
Of trading. Reports that the Presidents mes
sage would treat the trust problem strictly on
the basis Of business and law, and the growing
irnpressiop that the document would. as whole
he in line with the sensible and conservative
message Of year ago. naturally exerted
1svora bic effect on speculative sentiment. Oper
stors short of the market were also Influenced
ry the activity and advancing tendency in the
local traction shares. and by the appearance
Of a good class Of buying in some of the stand
ard railway issues Covering OF short contracts
was feature of the days trading. and the
chances are that an important short interest
was eliminated from Brooklyn Rapid Transit,
which enjoyed marked price enhancement
Opening at 631e. Brooklyn Rapid Transit ad-
ranced TO 6G3s. closing at CTS, q net gain as
compared with Saturdays final price of 31E
points Buying Of the stock by prominent
firm, identified with Gould interests lent color to
the report that the deal between the Manhattan
and the Interborough companies would extend
TO the Brooklyn Rapid Transit Company and
PEOPLE who were ready to jump at conclusions
were enthusiastic purchasers Of the stock Inc
best recommendation of ''B. r. t. stock lies IN
fhe companys present improving earning power
and its great opportunities for future tranc
through the development of Brooklyn and Its
were put out in the morning. but they were
absorbed. and after decline Of over one point
the price of the stock rose, on heavy dealings,
10 1862 as against an opening at 116 The
advance in New-York Central was accompanied
hy a report that the dividend would be ad-
vanoed TO a 6 per cent basis at the dividend
meeting this month: also by a report that came
from good sources that a large amount Of the
stock had recently been absorbed by the Rocke-
feIler interests in the company Rock Island
issues were in demand. the preferred being
taken bv investors. Lackawanna advanced
five points on investment purchases Metro
nolfsn Street Railway strong in sympathy
with BROOKLYN Rapid Transit. but Manhattan
developed q heavy tendency. closing at a small
net loss In the industrial list Sugar Refining
and Amalgarnated Copper were features Last
,rices were generally at about the highest OF
the day.
Railroad earnings continue to show remark
able gains over the corresponding period a year
ago. and as there is indication Of a recession
sn trade activity there is every reason TO believe
that traffic returns will be enormous through
out the next twelve months and longer Net
earnings for October now being received show
that while the companies placing heavy
amounts from earnings into their properties
fair proportion of the increase in gross is shown
in net For instance, Louisville and Nashvilles
gross earnings were S3S1. .26s larger in October
than in the same month last year while net
earnings increased S193. .76S. St Paul increased
" gross s2Q3 434 and in net S204,362- The
congestion Of freight al Western points is be-
ing relieved to some extent but the tTansporta-
tion companies still are hampered by a lack Of
cars. while the indications point to similar con-
aitions for a long time TO come Western ship
rnents Of general merchandise are holding UP
wonderfully well. and as higher rate
schedules 20 into effect earnings will doubt
less he phenomenal