New-York tribune., 1902-02-05
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The movement of values in yesterdays stock
market resulted in unimportant changes at the
close Opening prices were generally above
Mondays closing figures. while throughout the
morning values generally moved toward a higher
range. except in a very few issues. in which
special causes were responsible for the declin-
ing tendency The announcement of heavy en-
gagements Of gold for export served TO induce
a moderate amount of professional selling, and
a consequence many early advances were lost
before the close of the market There was good
buying in a number of issues. and in few
stocks further conspicuous gains were reported.
This was especially marked in Delaware.
L.ackawanna and Western, which advanced to
297. closing at net gain of : points. at DOB.
The upward movement in this stock was not
accompanied by any news development affect
ing the property, but IL was again reported that
the capital would be doubled: also that several
large railroad companies endeavorng TO
secure control of Lackawanna stock This Is
sue is now selling many points above Its actual
worth, and. Of course, present figures are
thought to foreahadow important developments
affecting the property.
Gold to the amount of nearly S4OO0OO0 was
engaged for export by to-morrow's steamers.
Part OF the metal will go to France and the
rest to Germany. The heavy engagements of
gold AT this time represent a normal foreign
exchange situation. and the local money
situation is in extremely sound position the
exports of the yellow metal will not have any
adverse effect on money rates in the local mar
ket. The chances that money will con-
tinue TO move to New-York from the interior
for several weeks 10 come, and It is probable
that the receipts at this centre will more than
offset the outward movement Of gold. The
money market yesterday was not affected by
the engagements OF gold for export The pro-
fessional element on the Stock Exchange sold
securities on the announcement that gold would
go abroad. but there liquidation from
important market sources. Investment hold
ings are not coming the market for the
simple reason that there is nothing in Condi-
tons affecting investment values to induce
liquidation among substantial owners Of secur-
ties
There was n fair demand for the wabash
stocks and bonds in yesterdays market; also
for the Colorado and Southern shares Regard
ing the last named securities il is reported that
substantial buyers have been accommodating the
various issues in the last few weeks. Earnings
of the company are heavy. and at the current
rate Of gain results for the year will show up-
ward of 4 per cent earned on the second pre-
ferred stock. Buying OF the Wabash stocks and
the debenture bonds has also been good in the
last few weeks and IL is currently reported that
the movement represents important financial
transactions, which will be made public at no
remote period. The copper shares were weak
features throughout the day, but elsewhere in
the general list Of active isSues no importa Mt
declines were recorded. There was a good de-
mand for Southern Pacific and Union Pacific
and the anthracite coal shares. Nashville and
Chattanooga. and Minneapolis ST Paul and
Sault Ste. Marie enjoyed marked Improvement
in small volume Of business. Net gains and
net losses were about evenly distributed at the
close