New-York tribune., 1904-10-07
BONDS.
STOCK MARKET OPERATIONS.


active securities marked the course Of trading
sn yesterdays stock market. In view OF the
aggressive strength in the last few days the
reaction was not at all unnatural. despite the
fact that there were no developments in the
outside situation Warranting change IN spec
ulative sentiment. and In many quarters the
relative resistance shown by quotations TO
heavy realizing and bear pressure was con-
sidered excellent reason for purchases, in ex-
pectation % stIn higher quotations. While the
general market was weak there was strength
in spots. notably in Reading, Arnalgamated
Delaware and Hudson. the 800" stocks and
Brooklyn Rspid Transit In these securities pre-
dictions Of further Improvement are freely made
in well Informed quarters. and despite the cur
rent high price OF Delaware and Hudson, Street
gossip insists that this security win cross the
two hundred mark. At its present quotation
Delaware and Hudson returns over per cent
20 the investor. while Delaware. Lackawanna
and Western makes return OF a trihe over
? per cent, selling at a price which naturally
does not encourage investment buying by peo-
pie who wish 20 receive a fair return on their
money. The idea has gone forth that the Della
ware and Hudson win increase its dividend next
year, and that Lackawanna win declare an extra
dividend. but there IS no Official guarantee that
action Of this sort viii be taken in the case of
either security, although the prospects are more
in favor Of al extra distribution by the Lacka-
wanna company than they are in favor of an
increase in the dividend on Delaware and Hud-
son. There was no news developments account
ing for the strength in Reading or BROOKLYN
Rapid Transit. but the buying I'm the case Of
both apparently came from good sources
Brooklyn Rapid Transit is considered by COM
petent authorities an excellent long time nrond
sition, OWNS to the assured prospects of the
COT1Dany'S nrso
rapid expansion IN population IN the Borough Of
Brooklyn
Efforts were made 20 bring about an active
ouying movement IN Anlalgamated Conner. and
IN a measure these operations were Succession
The stock enjoying an early advance OF oyer
seFen-eighths OF point while il failed n ro
spond to the declining tendency which deyslone5
IN the greater number Of issues. The trade posi
non OF the copper industry is improving re-
"ecloh o. winch is presented in: the exports Of
copper in the last month, which amounted ~ -,
unusually heavy total, showing a marked in
crease over the shipments of the preceding
Lnonth and Of the corresponding period last wear.
canadian Pacific exhibited relative strength %.
ufnes IN the face Of operations for lower rricos
n the general list The movements in this s+oc,-
0epeho httle on the transactions in other issues
owing TO the fact that there is only y small
amount OF the stocks available for s3ecuIsti,,s
purposes at this centre the chief dealings in The
security being confined to the London stool r.
Snahge Buying of the stock in NeVv-Yorl, ron,
1ii's investment purchases. and the peopIe
&C iushlineo with the company appear 10
oe conhdent that the price will sell at l50 in tba
course OF the current year. Ard H. -
VINO are bulish on Canadian Pacific alec t,.1,o,..
Ehat the stocks Of the MINNEAPOLIS. 81 F,eri 81
sault ste Marie. commonly known ss ,,,s g,
securities viii also reach a materially, biebo-
level irrespective Of the movements in The 60,
sFa market. The 800" conpanv fs oo-+-o,,.s >
By the Canadian Pacific ard irs earpir,,s = - =
last year have shown marked gains as CO..
pared with the corresponding time = vear 400
Fesuits Tor the LAST week In September ro, IN
sIanee' exhibiting an increase in gross Of $40
"E.' making gain for the month Of S1O9.11l.
and from July a gain of Sl6G.S76.
Heavy realizing sales were REGARDED 3, 6.
Paul which sold down over a point. r--,o, y.
eifc. United States Steel. Atchison ana an ,ba
ISSUES which have moved within the last few,
Gays under the influence Of vigorous bull o,.r.
uon Tor higher prices. The decline was 800,
panied o9 reduction in the volume Of b,,st-oss
ss compared with the heavy totals os r. -
eeoing days Of the week. while there vas -, a.
position or the part OF legitimate holders oe =.
Swi1les or on the part Of Spectators who ara
NEWLY margined % throw their securities on
"e market On the decline. however. there vas
1a~ demand from commission houses for the
aSoonht S oi the so-called public and the rasnlt
ot the days price changes ia ro 49, i.S - uiS
ne trend OF sentiment regarding the f,sl s
pIlces, tn The last hour many issues eboy,e5
SSsruSl reeoperles from the low poi1ts ~ he
Nsg, out Closing quotations presented a lo,,- Ite.
% neI oeclines- Among the weakest faa9,,-as S -
80 ...eL esLt opolitan and Metropolitan Securities
. - -. III lls a maximum decline of over
Per cent The low priced issues psner, ia. S.,,5
So"n WITH the higher priced securities nots-
P.sb Se lisssaee OF which was supplied by the wa
efately heavy volume or business 90 ''S~
LaFse amount OF this stock has come on the
,lethel ~ the last few weeks and IL is said thai
ls selnag represents hquidation bv fbe svndi-
eats which received $1,000 O0O Of Wa bash com
mon N connection with financing the F5ittsb1ir,,
'Nps''s''h o. me wabash Company.
THE rxAgo