New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-30
BONDS
STOCK MARKET OPERATIONS.

There was little life in yesterdays stock mar
ket while the movement Of values was without
significance. In the five hours Of trading total
dealings amounted TO 124.961 shares. of which
the greater part was supplied by Canadian Pa
cifc. 81. Paul, Missouri Pacific. Ontario and
Western, Pennsylvania. Southern Pacific. Union
Pacific. United States Steel preferred and Met
ropolitan. There was again fair amount or
activity in the shares os the Phoenix Mining
Company. the total sales Of which are not in
cluded in The figures of the days operati just
given Quotations moved within narrow limits
changes. as a rule, being confined to fractions
last prices showing more net gains than losses
Speculation was characteristic of the dulness
which so often prevails in the summer market,
trading being made up almost entirely Of the
unimportant operations OF the boardroom ele-
rneat commission houses and substantial mar
ket interests taking little part in the days trans
actions. IN the railroad list Southern Pacific and
Union Pacific showed moderate strength; also
Pennsylvania, Reading first preferred and Cana
dian Pacific. on small dealings 500" common
opened 1% points above the last preceding sale.
out subsequently lost half Of the gain, while
the preferred on transactions Of 200 shares IN
the first two hours of business enjoyed improve
Inent amounting TO l per cent. In the industrial
list American Locomotive issues were strong
abe preferred a half. In the local traction group
metropolitan was strong, while Brooklyn Rapid
Transit exhibited a firm tendency in the greater
part Of the day although at the close it showed
no important change from Tuesdays final fig
rres Speculation grew duller in the afternoon,
sind politics, rather than stocks, became the
chief topic of conversation in banking houses.
Efforts are being made in certain quarters to
create an impression that Wall Street will be
heavy contributor to the Democratic campaign
fund in the event Of the nomination of man
from the conservative wing Of the Democratic
party. II was reported yesterday that certain
Wall Street fnanciers had promised Democratic
politicians large amount Of campaign money
ST MI Cleveland should be the choice of the st.
Louis convention.
There IS no substantial basis. however, for this
theory that Wall Street will be lined up with
The Democrats Indeed, it may he said with
confidence born OF intimate knowledge concern
1ng the sentiment of the leading Wall Street
interests. that the Democratic candidate, no
matter who he may be. will receive no impor-
tant support from the financial community
Wall Streets memory is sometimes short, hut
sn this il does not forget the troubles that
developed after the election of Mr.. Cleveland
snd. consequence, there is disposition 10
work for the election of 3 party that has neither
the experience nor the wisdom necessary for the
safe administrator Of the country's affairs
The ides that Wall Street will rush in body to
the support Of Mr. Cleveland or any other Dem
ocrat is wholly erroneous. Mr.. Cleveland and
his party did nothing 10 encourage confidence in
the financial community. while, a matter of
fact. if the bankers of New-York had not come
70 the help Of the Treasury under the admins
tration Of the Democratic party the govern
Inent would have been plunged in serious finan-
cial straits. The Democratic administration
forced gold out of the country a time when
we were in sore need of the metal; IL created
oistrust abroad in American securities and it
paralyzed the country's industries and the la
boring mans pocketbook. Bearing all of this in
mind. St is not likely that Wall Street men will