New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-26
sex dividend.
BONDS.
STOCK MARKET OPERATIONS.

There little activity in yesterdays stock
market, heavy trading being confined TO a few
issues in which there fair amount OF
speculation. Early prices generally showed
slight declines from the preceding days clos
ing, while in the subsequent forenoon dealings
fractional improvement recorded, and at
the end Of the day final quotations showed UNI
important changes compared with Tues
days last figures. There were few more net
losses than gains. The largest trading was in
Annalgamated Copper Atchison Brooklyn
Rapid Transit the Erie issues, Pennsylvania,
Southern and Union Pacific and United States
Steel preferred. In the last named stock the
price huctuated within q range of Il point,
while throughout the list fractional changes
were generally the rule In Brooklyn Rapid
Transit, however, maximum improvement
amounting to over I per cent was recorded on
q volume Of business that reached fairly large
proportions. Buying OF this stock doubtless
was encouraged by the reported expansion in
The companys earnings and the optimistic
predictions regarding the companys traffic
throughout the summer season. 1t is interest
fng TO note that the company's earnings last
Sunday were heavier than on any preceding
Sunday In the history Of the company, and
that In the last two weeks the income from the
Coney Island business was heavier than in the
same period e year ago. Spectators are gen
orally bullish on Brooklyn Rapid Transit stock
ut this time of the year, and at present they
have better reason for buying the security than
ever, inssmuch its actual worth is greater
than it was last year. while its prospects for
dividend are brighter. It is not likely, how
ever that the shareholders viii receive a re-
turn on their investment at present, as the
company still has ample use for its surplus in
expenditures on needed improvements.
The demand for bonds was relatively more &C
tive than that for stocks, and bond houses re-
ported an enlarging inquiry from investors for
first class mortgage issues The demand was
particularly good for those securities that re-
turn more than per cent. More money is
going into bonds than into stocks, and this fact
encourages the expectation in many quarters
that there will soon be heavier buying move
ment IN the share department for the account
Of investment interests. Both the bond and
stock markets are filed with attractive oppor-
tunities for the purchase of securities that
on a safe dividend paying basis, and which. if
bought at existing quotations. viii yield most
satisfactory income to the investor. There were
no material changes in the money market, and
no developments that suggested an important
advance IN rates in the course Of the next few
months. Gold to the amount Of S2.500000 was
engaged for export TO Paris, making the total
on the current movement more than S59.000.0O0.
Il was estimated by competent foreign exchange
bankers a few weeks ago that the total outward
movement o. gold would be In the neighborhoOd
Of S6o,000OOO. and It is now thought that ship
ments have about come to end. and that
local bank holdings VIII again resume up
ward tendency IN cash and reserve items. De-
spite the enormous loans that are being carried
In this city, local bank conditions sound,
and there is no reason for uneasiness regarding
the loan account, which is protected by good
security.
Wall Street professed to be disturbed over the
labor troubles IN the New-Haven's companys
marine department, while some traders gave as
excuse for selling stocks the report of a whole
sale reduction in the working forces Of the rail-
roads. The railroads entering a period Of
lighter earnings, and a consequence they are
adopting the wise course Of checking expenses
the result Of which should have a favorable eff
feet on net incomes. Holders Of good stocks
are not alarmed over the natural reaction that
IS under way in trade. and they maintain that
falling earnings have been discounted by the
decline that has already taken place in the
stock market