New-York tribune., 1904-08-25
STOCK MARKET OPERATIONS.

Stock market trading was not marked by an
active volume of business I'm the greater number
OF issues, hut prices rule. were strong.
with net gains in the majority of shares at the
close IN the early dealings there was "a ten
dency on the part Of the board room element to
work for lower quotations. This movement
however. was not followed by important selling
pressure while before the end Of the second hour
the whole list became strong. especial strength
being shown by the so-called Gould shares
which enjoyed maximum advances Of point or
more Missouri Pacific taken by the pool
that has frequently been active in the stock.
while the same class of buying was reported in
~. Louis Southwestern preferred and Wabash
preferred. There were no news developments
affecting these issues. but brokers who had buy
ing orders in the group appeared 10 believe that
the prices would he carried higher in the current
market. Crop conditions in the territory served
by the Missouri Pacific and the ST. Louis South
Western snow Improvement. while the general in
dustrial position of that part of the country is
extremely satisfactory. In connection with the
advance in the Wabash issues 1t was reported
that the company would resume the pay
Eent OF interest on its debenture A bonds.
In the local traction shares strength
shown by the various members of the group.
with reports of inside buying in Brooklyn Rapid
Transit. This stock taken by a house that
generally operates for insiders In the company
and heavy trading in the issue naturally sug-
gested that stock being accumulated by in
terests identified with the property. The show
ing OF the Brooklyn Rapid Transit Company In
the last fiscal year foreshadows an investment
position for the stock OF considerable impor-
tance. Amalgamated Copper was pushed up
over point. and Street gossip advised the pur-
chase of the stock for higher price while from
the same source bull talk was heard on Pennsyl-
Vania, American Sugar Refining and Peoples
Gas. People who buy stocks AT the current level
should bear in mind that the market has en-
loyed large advance in the last month without
important reactions. In a number Of the spe-
cialties marked advances were recorded as for
instance, in the express company shares Ma
tional Lead and Pressed Steel Car preferred
Consolidated Gas developed greater activity
than had been noticed in many weeks. and the
advance in the issue was accompanied by a re-
port that factors favorable TO the company were
about 10 come to light in the local gas situation
This, however, doubtless represented the imagi-
nation Of elastic Drained traders The Hartman
group was much less prominent than on the
preceding days OF the week, the movements OF
Union and Southern Pacific rejecting realizing
sales and a wider distribution of the shares In
some quarters It thought that the strength
elsewhere in the list he'd been taken ADVANTAGE
OF TO place Union and Southern Pacific on the
market without causing a decline in their quo
ta{ions.
The movement OF currency from this centre to
out of town points has begun IN earnest as local
banks are now receiving orders for shipments to
the West and South. The first shipment
through the Sub-Treasury was made yesterday.
100000 going 10 Chicago. In addition s7OO,-
900 geld was taken for Canada With the
amount shipped TO New-Orleans on Tuesday and
the gold exports TO Cuba, yesterdays withdraw
ais from the banks will tend TO bring about
big decline IN cash holdings this week.