New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-13
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Price movements in yesterdays dull market
were confined. as a rule. 10 fractional huctua-
lions. There was no buying for outside in
terests. and little disposition on the part Of the
professional element to enter actively specu-
lative engagements. Opening quotations were
firm. except in the United States Realty shares
the local traction issues and Steel common.
the stocks named supplying the only points Of
interest in an extremely inactive market. Fol-
lowing the early frmness in the general list
values developed a sagging tendency, but the
selling pressure was not sufficiently heavy to
bring about important declines. At the close
there we're more net losses than gains. the
local traction stocks and Atchson showing the
heaviest declines. Selling Of these stocks was
not due TO news developments affecting the
properties the movement evidently rejecting
the operations Of people anxious TO realize on
their holdings. Brooklyn Rapid Transit is in
o more favorable position to-day than il has
ever before enjoyed. and the prospects for divi-
bends OF the stock are growing brighter every
week There were various good reasons for
holding the stocks OF the city transportation
lines. especially Manhattan. which at its pres
ent level makes an excellent investment yield,
and which ia 1906 win return even more TO Its
stockholders. as ii then becomes per cent
issue
Bank statement figures showed a larger de-
crease in cash than preliminary estimates sug-
rested the loss amounting 10 SL99S zoo. against
100000 shown in Fridays calculation, based
on the known movement of money. Loans in
creased again. and as a result Of ali changes
reserve above legal requirements decreased ST.
924775 10 $15372.c00. which compares with
$sl5.ut3 al This tiue a year ago and SI,l1O.Jj0
ir 1901. cash holdings are now larger than at
this period in the last few years The position
az me banks is sound, and current factors af-
fecrng bank conditions do not foreshadOw
disturbance in the money market this fan.
stock market trading was not affected 70 any
noteworthy extent by the Clearing House state
mont last dealings amounting TO Insignificant
totals IL unimportant price movements. With
The exception Of Atchison. Brooklyn Rapid
Transit and Anaconda. final losses amounted TO
fractions. In the stocks named net declines
ran from TO per cent.
Trade reports for the week show. as a rule
Improvement in the country's industries. with
the promise Of a brisk fan business in ali lines
OF work. Wan Streets expected reaction in the
commercial world has not yet developed. and
there are few factors in the situation that en-
courage the belief in wen informed quarters
that a period Of famine is approaching. The
country's business may decline I'm volume in
the course Of the next year. but that viii not
induce widespread industrial insolvency. There
are. OF course. many reasons for caution. both in
business and stock market operations. at the
present time. and the fact that conservatism
now marks the transactions in most lines Of
work and in the securities market is insur-
ance against that overstimulatiOn in business
and stocks that generally leads toward bank
ruptcy. Stocks are not in active demand at
the moment. Speculation is quiet and il doubt
less viii remain in this position for weeks TO
come. as the public has lost its appetite for
securities, while the more important financial
Interests show no disposition TO encourage &C
tivfty.