New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-07-08
BONDS.
STOCK MARKET OPERATIONS.

A heavy profit taking movement that deVelopd
In yesterdays market the natural sequence
Of the rapid advance and active dealings in
Wednesdays speculation. Sales however. failed
in most cases to bring about important reac-
tions in prices. offerings being we'll taken. both
for speculative and investment account In the
greater number of Issues where declines were
recorded the recession was confined to fractions.
with last quotations showing unimportant
changes IN the greater number Of securities.
Sentiment continued bullsh. Commission houses
reported a growing disposition on the part of
their customers to accumulate stocks for higher
prices while the leading market interests freely
advised the purchase of attractive securities at
current figures in expectation Of material i'm
provernent IN quotations before the Presidential
election. Recognizing the fact that Populism
and Organism are practically dead Wall Street
feels encoura eed to go ahead with its plans for
the future while the business men Of the coun-
try are beginning to figure on an active indus
trial situation which will not be surrounded
with the fears and uncertainties which would
have developed If the radical element IN the
Democratic party had been able to control the
Democratic National Convention. Wall Street
naturally is gratifed that the Democrats have
regained their reason. but Wall Street. never
theless. will vote as a whole TO continue the
present Republican administration in power.
long screed from the pen Of the gentleman from
Boston who is telling tho world about "frenzied
finance" which has just been received, an
rounces that the Standard Oil interests will
fight President Roosevelt TO the last ditch and
that they will spend millions of dollars 10 place
Judge Parker IN power unless President Roose-
,-elt viii. agree TO become q Standard OF puppet.
Dir Lawson of Boston, is a funny man, and his
market letters and other publications add TO the
gayety of nations. It is not likely that President
Roosevelt will be al all alarmed over Mr.. Law
sons prediction that the Standard Oil people
have made up their minds that the who
may be elected President next fall must become
e servant of the great Oil Trust.
Reports of adverse weather conditions in the
winter wheat belt induced a certain amount Of
bear pressure in the railway shares. but the
effect of this influence was not sufficiently heavy
TO brighten investors into parting with their
securities. The total dealings in the day We're
well under the large operations Of Wednesday,
with the heaviest trading in Amalgamated Cop
per Atchison, the local traction shares. St. Paul
Missouri Pacific. Pennsylvania, Reading Rock
Island Southern Pacific. Union Pacific and
United States Steel shares Union Pacific
Southern Pacific, Pennsylvania, Missouri Pacific
and St Paul showed final losses of over 1 per
cent while elsewhere in the active list net de-
clines were confined 10 fractions. London houses
bought upward of 10000 shares in the local
market while out Of town interests were again
moderately active buyers, especially in United
States Steel preferred, which was taken in
large amounts for Pttsburg account. There was
no change in the money market, while sterling
exchange ruled a tri1e under the preceding
days level.