New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-22
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The movement Of values in yester~ ay 5 SecuFi-
ties market was generally toward a lower level
Opening quotations were at advances as COM
nared with the preceding days close, but in the
subsequent operations a declining tendency de-
veloped under the lead of the United States
Realty shares which were under heavy selling
pressure The common stock declined TO OF,
while the preferred broke 6 points to 81, clos
ing at a rally of ? points, and showing net
loss for the day of 81 points. The decline in
these stocks was not accompanied by news de-
velopments affecting the property. although
there were various rumors which attempted to
account for the liquidation. AS the selling was
considered forced liquidation, the effect on the
rest Of the list was naturally unsettling, while
sentiment was inclined TO be pessinistic because
Of the weakness in the Realty stocks. The long
strike in the building trade has, of course af-
fected the earnings of the United States Realty
Company, but in well Informed quarters no
doubt was expressed yesterday over the ability
of the concern TO maintain its present dividend
rate Of G per cent on the preferred stock The
decline. nevertheless, in the price of this issue
naturally creates feeling Of uneasiress among
people who are not in touch with the company's
affairs. and they are led to believe by the pres
ent low price Of the stock that the next dividend
will either be reduced or passed.
evidence of increasing narrowness in specula-
ton and disposition on the part of the So
called public element not to enter into specu-
lative operations. Total dealings ere well I'M
der the record of the preceding day. while, as
compared with the corresponding day a week
ago, there was falling off Of over 100000
shares The heaviest transactions were sup
piled by Amalgamated Copper, Atchison, st. |
Paul Erie, Missouri Pacific, Reading Rock ISL
and. Union Pacific United States Realty and
United States Steel shares. Declines. as a rule
were confined TO fractions while in a few cases
final figures presented net advances. notably
Amalgamated Copper, Consolidated Gas and
Delaware and Hudson. The buying of the
Amalgamated Copper stock was en- ged by
a further advance in the price of the metal
The copper shares in the London market were
strong features. but in the local market fore On
houses were not active on either side Of the ac-
count. sales predominatng. Delaware and Hud-
son enjoyed a sharp upward move on an ex-
ceedingly small volume OF business. There was
no news regarding the company. but it was said
in well Informed quarters that the recent pur-
chase Of 5000 shares Of the company's stock
by well known life insurance company had
been augmented by further purchases for the
same interests. The market closed on rally,
final prices showing slight advances from the
lowest figures of the day.
There was no change in the money market
and no important movement in foreign exchan- e
According to the known movement of money in
the week the local banks have gained about
*3.OOOOOO in cash holdings 1t is not known to
what extent the loan item has changed in the
week, and il is therefore impossible to make
satisfactory predictions regarding the probable
change in the reserve above legal requirements
IN to-day's Clearing House statement.