New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-20
BONDS
STOCK MARKET OPERATIONS.

Total transactions I'm yesterdays market
amounted TO 2814s3 shares, with the heaviest
dealings in Amalganated Copper. Brooklyn
Rapid Transit American Locomotive, Atchi-
son. Erie. Pennsylvania. United States Steel IS
sues Baltimore and Ohio. Union Pacific and
Southern Pacific In these stocks final prices
generally showed small net declines. while
throughout the list last quotations presented
many more net losses than gains. The move
rrent n values was irregular in the five hours
Of trading. early weakness being followed by a
f-r,e- tendency In the first part Of the after
,,oo1 which in turn was succeeded by heaviness
,r the last hour OF business. Strength in
Northern Securities on the curb served 10 help
the regular market for time, but the absence
OF a public demand and the weakness in the for
eicn markets the failures in Pari- and Berlin
and the asking Of a high premium by Lloyds
AGAINST the outbreak Of an Anglo-French war
made bun enthusiasm impossible. while in many
circles these factors created something akin 20
extreme bearia mess. Northern Securities was
advanced on the curb on the theory that what
ever the SUPREME Court decision may be regard
sng the legality of the merger. the stock as rep
resentinr the Northern Pacific and Great North
en- companies is cheap at its present price. II
IS thought that q decision may be handed down
next Tuesday II the justices argue against the
company. which Wall Street apparently bellows
they win do. there ouEht 10 be no disturbance
on the Stock Exchange. as already one decision
tas been given against the merger. following
which there was big break IN values. discount
f-r anything the United States Supreme Court
rsgv do. r. the Northern Securities Company %
c.. Jared an organization existing IN violation
O. tie Law. an investors ought 10 feel relieved
o-o~ ACCESSION against it. Cpholding the Anti
'T~ust law viii not upset the prosperity Of
a--a
Foreign houses sold stocks in the local mar
let while on the London Exchange and on the
Continental bourses weakness again was the
t1ef feature South African mining shares
v--e under pressure Turkish japanese
and Chinese issues were lower and money
rates were harder. The Ne,r-Yo-k market may
congratulate itself that Il is not a mart for
business ia government securities OF various ma
lions. II foreign issues were listed on this ex-
change. as they are on the London Exchange
would have a more actively declining gem
eral market than prevails at present while the
political situation OF the world would constantly
BE- reflected IN nervousness and trouble In Wall
Street The war situation was reflected in the
wheat market YESTERDAY. both in this city and in
Chicago new high prices for the season being
made for spot and future delivery while in cot
tor, which is supposed 10 be adversely affected
by the war. strength and activity were also
features. There was more interest in the COM
modify markets thsn there was in stocks the
latter closing even duller than they opened.
Marked Weakness in the local traction shares
Was the only feature
There was 40 change o. importance in the
money market ct this centre but further ad-
vance took place IN foreign exchange, steri-
FMS rates rising Il points To-day bank state
rleut ought ~ make favorable showing as
according 10 tho known movement Of money in
thc week. The hanks have gained over S7.uO8.-
0o0 iE cash holdings. made up chiefly Of receipts
O. currency from the interior. The long de-
layod return flow of money FROM &ew-Orleans
has SET r.