New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-19
BONDS
THE DAYS OPERATIONS IN STOCKS.

Extreme weakness in yesterdays market was
confined in great part 20 the industrial shares
~ which material declines were recorded. In the
early dealings the Western railroad stocks eN-
ribited moderate strength, advances Of from =
- ! roint being registered the Improvement.
however generally being lost before the close.
There appeared 20 be little buying power in the
market. trading being restricted 20 the profess
sioral element which centres its attention on
-he industrial issues TO an extent that caused
nov low record prices for United states steel
and Tennessee Coal and Iron, and severe net
losses I'm American Car and Foundry issues
American Locomotive stocks and Pressed steel
Gar shares In the last hour The securities
NAMED developed great weakness sinking 10
-heir lowest prices of tho day. United states
Sci n-s.lxi-7e 70 Is The decline was accom-
named Ivy various rInors and sueseSlloi's' "'e
81. which was that p bank had called loans on
-, ,-~-,,- and shat all The money insttu-
lions wore exercising unusual discrimination
-s,rs+ tho industrial issues A director Of me
-, ,-,-ro-atior was quoted hy a news bureau
g., she eject thar there was no probability OF
s,,-.for Il, the dividend on common STOCK
-,bne net earnings exceed Sl"'"f''S" p te"l.
II ,s estimated that net earnings TINS year ~.
-.-eps-e S1g5 100000 The decline id 9'e'l
common was somewhat surprising, IN We" VI
.bs fact that prices for finished proauo's Us
not been reduced. hut Wall street
- +,,a, -re eaccing 81 steel stock prices
,t-,,-,es reaction ir the iron ana steel uaNs'
~. 1-,;,ad States steel Corporations common
-, ,4scb carries control 81 the concern
-. Il, mar value 10 S-,50ooo"lo, ~ when
COS ,,aa coo is outstanding. At SIS present Il'''
-. A,,-e naturalization 81 common STOCK Is
,o,b IN the market upward OF S''"-"""''- an
.,,,,,,,rt which many Wall Street interests as
sort win le materially reduced. as III theFT oI'''-
,,, she price Of TIE stock viii Work SUN i'" =,
=. a. i-.sresting To note that since August !
,bis issue has sustained a shrinkage Ga s.'''-
"a, os.a while in the same time the preferred o
,,4fa-as a net loss 81 S32.5tfe" All uie i''il
- s...l shares and stocks representing com
NAMES closely connected with the IRON anu SCI
,s,,-.ss have made marked declines In The last
month. as for instance Tennessee Coal ana IT,
which has gone down in market value H'''-'''-
..,.o mr., o. -sri+alization Of S20Oeoeo stock
KK-u street is preparing for trade reaction
,,,,. a., ought not to operate on the theory that
industrial insolvency Is approaching. TRACE re-
morris received last night showed geheraAS
sound conditions i is admitted that The poom
=, iron and steel Is FOR tho present but II Is
M. conceded that the industry viii soon cease 20
l,e profitable.
According 10 tho known movement 81 money
in the week the local banks have lost upward Of
SAse0 600 iu cash holdings. Que % loss 81
81 666 o00 IN their operations with the interior
ana n loss Of S4115.4"o 10 the Suh-Treasury'
less = gain of 81 25S 400 in new gold Deduct
ing the last named item from the loss with the
frte-ior IL VIII he seen that the actual net Joss
So the banks ON out - town movements was
extremely light. The demand for currency from
tie West Is not heavy at present, but ia the
next month an active inquiry win doubtless de-
Helop. Sterling exchange was strong. but bank
ors are not q the opinion that the advancing
tendency would continue FOR any length Of time.
Cotton bills are en- light supply; also grain
,,u, A frecr foreign movement o. both cotton
End grain rs expected soon.