New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-05
BONDS.
STOCK MARKET OPERATIONS.

While total dealings in yesterdays market
amounted TO over 100000 shares TRANSACTIONS
were poorly distributed. the greater part OF the
business being supplied by twelve issues III
which dealings amounted to over SO0.ooo shares
with the heaviest operations in the Steel securi-
ties ArnaIgamated Copper Sugar Refining
Ynooklvn Rapid Transit, Colorado Fuel Erie
Pennsylvania. Republic Iron and Steel ROCK
Island, Tennessee Coal and Union Pacific. The
iron and steel stocks were again the leading
features OF the days trading. United States Steel
common and preferred supplying nearly one
half of the total transactions in all issues. on
movement of values that generally tended IN the
direction Of higher quotations. United states
Steel common enjoyed net gain OF over TWO
points the preferred over one point, while Re
public Iron and Steel and Tennessee Coal and
Iron closed at prices which showed improve
rnent of over per cent as compared with the
preceding days last figures. Activity in the
iron and steel securities was based on the decid-
ed Improvement which is taking place in the
iron and steel trade evidence of which was pre-
scented in the reports of the commercial agencies
and the bulle -ins received from trade centres
and from people who are actively identified with
the iron and steel industry.
Marked expansion is reported in the various
departments of the United States Steel Corpora
ton; also IN the output of the Tennessee Coal
and Iron Company, the Republic Iron and Steel
Company, and the Colorado Fuel and Iron Com
pam, while from all surface indications 1t is
safe TO predict a period Of great prosperity in
this line of the cOuntrys industries. AS the
iron and steel market is considered the barome-
ter Of trade It is extremely encouraging to
port the wonderful improvement that is under
way in the demand for consumption and it must
be particularly satisfactory for the holders Of
iron and steel securities to know that the times
Of depression are over and that from
earnings doubtless will show vast improvement.
Another indication of the growing strength Of
industrial conditions is reflected in the increased
activity among the railway equipment compa-
MES, which receiving large orders for
new cars. the American Car and Foundry Com
peny. for instance, having made contracts with
railroad companies for over 1900 new cars for
the month of October, which compares with or
oers OF about 1000 for the month of September.
Outside Of the steel stocks and a few other ac-
tive issues. transactions were light in volume on
an unimportant movement Of values. In the
early dealings quotations acted in irregular
manner, with the tendency in the majority Of
Shares In the direction of lower prices, but in
the subsequent operations a stronger tone de-
veloped, and a consequence many securities
showed fractional improvement at the close
The approach Of the election naturally served to
create certain amount OF caution among timid
traders, on the theory that a surprise might be
IN store for voters Wednesday morning, but
there appeared to be no uneasiness on the part
OF leading Wall Street interests over Inc out
come Of Tuesdays voting. 1t was assumed In
most quarters that the present administration
VIII be retained in power. and that there will be
no change in the policies governing the conduct
OF the country's government. In the late deal
tnss the general list was firm under the in
nuence Of the strength OF the steel stocks while
at the close prices rule were at the best
points OF the day. Many people who refused 10
buy Steel common several months ago, when it
was selling below 10. were anxious to secure it
yesterday from % up to "a. According to the
known movement Of money in the week the
local banks have lost upward of SS,500000 in
cash. due almost entirely TO the exports of gold
10 Paris. The most encouraging feature of the
weeks movement Of currency is found in the
receipts of money at this centre from the in
terror IN excess Of shipments. There was no
material change in money rates, but sterling ex-
change advanced 20 points under the influence
Of active demand for remittance.