New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-29
BONDS.
STOCK MARKET oPTFATIONs.

On q small volume of business, stock market
values made no important progress in either
direction, final prices showing Insignificant frac-
tional changes, with more net losses than gains
As pointed out in this column yesterday, the
Street is not disposed to enter actively into Sc
curities operations pending the outcome of the
Democratic National Convention. and as a con-
sequence dulness IN the stock market may be
expected for a number Of days TO come. In ad-
ditiou TO the influence Of the Democratic Ma
tional Convention in encouraging dulness in
speculation the approach Of e three day holi-
day serves to check speculative activity. OF the
small total dealings in all stocks. the greater
part was supplied by Atchison common and pre-
ferred, Brooklyn Rapid Transit. Canadian Pa
cihc, Southern Pacific. Union Pacific and United
States Steel preferred. In these issues price
changes were confined 10 fractional variations
on trading that represented little outside of the
operations Of professional dealers. except in
Atchison preferred. which apparently was taken
for the account Of substantial market interests.
In the last few days there has been fair de-
mand for the last named issue. and it IS thought
that investors have been accommodating the stock.
This security is on a per cent basis and at Its
present price It yields over the amount OF its
dividend. It has been suggested that If new in
terests should be elected TO the directorate of the
Santa Fe company the dividend on the COM
mon stock would be reduced or passed but
there appears to be no doubt regarding the per-
manency of the 3 per cent rate on the preferred.
The idea that the Hartman interests VIII secure
control OF the Atchison is doubtless based on
the belief that they are reported to have bought
enough Of the stock to give them representa-
ton on the board. The men who are now man.
aging the affairs Of the Atchison. Topeka and
Santa Fe have accomplished great results with
the property, and their hands would only be
strengthened if Hartman interests should figure
On the board of directors.
In the bond market the volume Of business,
while not large. was well distributed, with the
heaviest dealings in Burlington joint As, United
States Steel rs, st. Louis Southwestern As. and
Norfolk and Western Pocahontas Coal Company
Is. There was a good demand for the last
named issues, doubtless Of an investment char
acter. These bonds are secured on about $50. 900
acres Of coal lands. The stock Of the company
IS owned by the Norfolk and Western Railway,
and upward of fifty thousand acres of the COM
pany's land are leased TO companies whose
stock is owned by the United States Steel Cor
poration. The dulness which was the charas-
teristic feature in the mornings trading il
stocks continued in the afternoon and in the
anal dealings there were practically no trans
actions recorded. There were no changes in the
money market Of Importance, while the foreign
exchange market was inactive. Total tranSac-
tons in stocks amounted to 1850 shares,
which includes $4,000 shares Of Phenix mining
stock. Excluding the dealings in this issue. the
days trading was lighter than on any preceding
day this year. excepting March 10, when trans
actions footed up only 1862 shares
THE DAYS OPERATIONS I'M BONDS.