New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-17
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock values enjoyed something OF a DUH
boom in yesteday's market. maximum ad-
ranoes running from . TO points in the ac-
tive issues with the hest part Of the gain re-
tained in the final quotations. In some cases
advances were even larger. as. for instance.
in General Electric. which advanced "a points,
and in American Car and Foundry preferTes
which enjoyed a maximum gain Of nearly !
points on buying both for speculative and In
vestment account. The recent decline in this
issue was due entirely TO factors having no
bearing on the actual worth Of the security.
and traders who sold it short found considera-
bic difficulty yesterday in covering their con-
tracts save az a loss. This issue is largely
held by investors. Forced sales OF the stock
held in loans that were lqudated early in the
week and opportune bear pressure were respon-
sible for it's loss recorded at that time. Specu-
larive sentirnen. was favo-ably affected by the
absence OF liquidation. by the confidence ex-
pressed in the future OF values by conserva-
tive interests and by the belief that the recent
DEVELOPMENTS affecting industrial shares would
have no permanent effect on the countrT's in
sustrial situation The prospects OF . favorable
bank statement and active buying for foreign
account also encouraged optimism and induced
:.crive covering OF short contracts.
In the industrial list IN addition to American
Car ard Foundry issues. sharp advances were
lnade among the active stocks by Amalsamated
Coppe-. Sugar Refining. Peoples Gas and the
United States Steel shares. In the railroad de-
,,a-;rnent the effect Of pool buying was noticed
g. r9any issues. notably Chicago and Alton. in
which the price was marked up without APP
..sreit G:Hculty. The Street believes that the
appca-e~c- OF pool operations in Alton reflects
r disposition on the part Of the larger speculative
interests TO Assume more definite attitude in
THO market. and this view naturally inspires A
certain amount % confidence. as interests iden-
TIED w!-h the Chicago and Alton are prominent
IN other large systems. as. for instance. Erie,
Northwest and Union Pacific. Atchison. 81
Paul Erie shares Missouri Pacific Reading ard
Union Pacific taken by good class Of
traders. In the local traction group advancing
prices were accompanied icy rumors Of accumu-
la,ion Or tho citys traction sna-es by Could
ana Rockefeller interests. Manhattan VAS un-
s~.ctcd by threats 81 3 motoruc--s strike
Last prices were near The best ~ tho day.
Money was easy I'd Sterling exchange firm.
according II the opinions ~ -he most con
servative and nest informed persons in the
banking community. the recent weak position
az The stock market VAS not based on factors
ths- WE have lasting adverse influence on
the general rusirers situation. Il IS conceded
That the severe losses suffered In Wall Stree;
may acoeDtuaie normal business reaction.
hat = is coutanued trs5 tie Industrial si+u7rjov
IN ;h.s COUNT. IS on -oo Sound a basis 20 do
N"lo2 general business insolvency ~ result
- period ~ stc5i; market losses ard Of =
decline in IL" vo,uu'o - trade. There Is no rea-
Fon Wv TIRE unfortunate developments affecting
the Organization an6 business career Of Ce~ta-,
industrial concerns should upset 40 ir.r!Dsi.,
value - sound Investment PROPERTIES. Wall
Street hai'krrs and promoters are learning les
Eons which. although costly. viii insure. II IS
hoped. tho future ~ Industrial orra nizatfors
aeainst q repetition - such disasters as have
RECENTLY occurred. Trade reports received list
night from the commercial agencies supplied
little elcoura cement for the advocates Of lower
prices. Caution and conservatism are the watch
woics among business men.
The known movement u money in TIE week
showed gain i'm cash holdings ~ oye~ $. roo
"N. made up by 4 gain on operations With the
sub-Treasury of over 81 Inael1 a gain in re-
oeipts OF new gold Of over 100000 and a loss
10 the interior Of over 81 2ouoen Rank con,
oi'lons are unusually sound Tor this period 81
the year