New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-08-16
'Ex dividend
BONDS.
STOCK MARKET OPERATIONS.

stock market operations were heavy IN volume
in the greater part Of she day. while prices again
reflected the presence IN the street Of many new
buyers: also sellers who purchased securities
when thev were quoted well under the current
level Opening At advances as compared with
tho closing Of Saturday. the whole list rose IN
the first two hours end then, under the infu-
euce of profit taking sales, reacted from the best
figures although recovering in subsequent deal
iuez and ending near the best Careful specu-
lators thought that the time was ripe for de-
cided reaction hut prices showed little DISPOSE
ton 10 respond 10 sales for either account
This feature If The current market may he diff
ferenrlv interpreted. but the chances are that
II will mean 10 the commission house trader
that stocks cannot go down. and that securities
are cheap st their current level There are
many shares that are stiH selling under the
price warranted by their intrinsic worth. and the
current rate Of money, but this fact does not
prove that there viii be no setback in the pres
ent bah movement. reaction would help
rather than injure the market.
The heaviest operations were IN Atchison. St.
Paul. Pennsylvania. Union Pacific. Southern Pa
cilc. Reading. Sugar Refining. Amalgamated
Coppe~. Missouri Pacific ana the United States
Steel shares. With the exception Of the last
named stock decided strength was exhibited by
all these issues, especially Atchison. St Paul
end Union Pacific. Buying of Atchison sp-
peared 10 be for the account Of substantial oper-
stors while the same character Of trading was
reported IN most Of the leading active securi-
ties. On moderately heavy dealings. Illinois
Central came into prominence and Canadian
Pacific was again in demand from the same IN
terests that we're active IN the shares last week.
II is interesting 10 note that the objective point
Tor this stock is, according to Wall Street Cos
sin, 14o- The same sort OF gossip predicts l75
for 81. Paul. 80 for Sugar ana 50 for Southern
Pacific Wall Street IS 10 longer a gloomy place.
Instead Of the recent long period Of bad weather
in the speculative community there are rain
bows and sunshine. II IS to he hoped that the
margin trader IN his quest for profits Will not
run blindly after some Of the rainbows that an
pear at most frequent intervals All Wall
Street rsinbows are not what they seem lint
few operators viii believe this at a time when
prices are moving upward.
There was no change of importance I'm the
money market, but bankers detected signs Of
coming heavy shipments OF currency from this
centre. Exchange at interior points M, New
York is moving against this CITY. and the out
look fayors an Increased outgo Of money from,
now on. The idea that there may he large gold
exports IS gradually dying, as all Indications
point 10 a lower market for sterling exchange
From the reports received yesterday from yS-o4t
ern speculative sources It might be assumed
mat there viii be no supply OF grain bills in the
exchange market this year. as. according 70
these reports the corn and spring wheat crous
are almost hopelessly ruined Outside ~ an
advance In corn the Wall Street markets 7,-e-e
Hor auected 10y the Chicago crop stories stocks
enjoying the best advances at a time when the
crop damage reports We're coming in with ma
ohinelike rapidly.
IN The last hour the whole market With only
Few exceptions, notably United States Steel
preferred. was strong, and although final prices
we're under the best Of the day. they presented
net gains IN most shares. The advance Of :
points IA marlborough on the curb belne5 ,ba
other traction shares in the late trading Mis-
souri, Pacific was a strong feature In The after
noon, and Illinois Central made further ID
vance 10 I0'. against Saturdays closing Of 134lk
ThE DAYS OPERATIONS IN BONDS