New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-18
BONDS.
STOCK MARKET OPERATIONS.

Tower prices IN the London market encour-
ered active selling in the first hour OF trading
on the local exchange. and as a consequence
rariy prices showed declines, which, however.
generally were confined TO small fractions. Sub
seouentlv a recovery set in throughout the list,
quotations at the end OF the morning session
ruling IN the greater number OF issues well above
the opening. with the chief strength in Anal
xarnsted Copper, which enjoyed advance OF
over i point; Atchison Colorado Fuel, Erie
Canadian Pacific. Louisville and Nashville, Met
ropoiitan Norfolk and Western Southern Pa
cinc and ST Paul. On the initial decline there
was q good demand from commission houses
especially for first class Issues. while bull pools
apparently were at work on the long side Of the
account, despite the appearance Of inside SELL
tng in various parts OF the list notably In Union
Pacific IN which for brief period the selling
was better than the buying. Southern Pacific,
on the other hand, was well supported after Its
early decline. its prices advancing over l point
above its low level of the morning From q
stock market point OF view Southern Pacific Sc
ctlritfes are considered excellent channels for
The placement of Idle money. and, even viewing
the property strictly from investment point.
there is reason for much encouragement over
its futuret. Talk is heard of early dividend
on the stock but il hardly appears probable
that the directors win decide to make dis
bursement until well into next year, at least.
Notwithstanding the poor showing by the Met
ropoliten company for the September quarter.
the stock acted we'll supplying one Of the
strongest features In the early trading. while
al the local traction stocks exhibited an upward
tendency. Manhattan selling at new high price
at $685. net gain for the day of IL per cent
Canadian Pacific showed increased activity and
marked strength, the demand for the issue COM
fng from spectators and investors. the former
being attracted TO the issue by the evidence of
buying for the account Of operators who seldom
lose their money in the stock market, and the
latter class being induced TO buy the stock on
fits merits a solid investment security. Ac-
cording TO Street gossip its price will cross loo
on the current movement.
Enormous dealings in Analgamated Copper
stock represented in great part a speculative de-
nland for the issue. traders being anxious TO
buy this security owing to the fact that power
full interests working to bring about a higher
price. their theory that a better quotation is
warranted being based the strong position
Of the copper trade AMI the excellent prospects
FOR large earnings in the copper Industry in the
next twelve months The home and foreign de-
mand for the metal is increasing, and prices for
copper are slowly moving higher OF course,
this improvement means much TO the AmalSa-
mated Copper Company, and encourages stock
market traders TO expect increase in the divi-
dend on the stock Activity and strength were
reported throughout the industrial list. in addi-
heavy dealings being supplied by American
Sugar. Tennessee Coal and Iron. American
Emeters American Mating shares, United
States Rubber American Hide and Leather pre-
ferred and Colorado Fuel and United States
Steel preferred. in which advances Of per cent
and al ove were common. The strength IN Cana
dian Pacific induced buying IN Minneapolis St
Paul and Sault Ste. Marie, and traders believed
that the price Of this stock its way TO
par. level which frequently has been predicted
by well Informed market observers. Detroit
Bouthern was again IN deruanC its movement
being accompanied by report that the property
had changed hands II control OF this property
has gone TO new interests the position Of the
stock ought 10 be considerably improved espe-
cially IL II is found that the Cincinnati Halnil-
ton and Dayton has secured the ownership of
the company. rs II is believed that the Cincin-
natl Hamilton and Dayton eventually will he
taken over by one OF the larger systems.
Ia the afternoon dealings the whole marxet
exhibited pronounced strength the greatest i'm
rrovement being made by Canadian Pacific
Coal and Iron. Sugar Refining. Southern and
Union Pacific At The close prices were near
the best OF the day, while sentiment was in
tensey bUilish especially IN commission houses
small and large traders exhibiting great eilthu-
eiasrn over their belief that values will continue
70 advance. The vigorous upward movement
IN the last hour was accompanied by large buy
Ing orders by commission houses, and despite
heavy realizing sales prices showed no disUosi-
shares on the Exchange extended to Inter hor-
oGgh stock on the curb this issue enjoying 2
naNl-num advance az points and net gain of
Is There was no change Of Importance in the
money market. but sterling rates We're again
higher