New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-02

stock market trading was light in FoIuIne
throughout the cay on. an Irregular movement
81 vaIues that ended with many more net losses
cha, Gains. transactions were made up in great
,s-+ ~ the operations Of professional dealers
commission houses having Few orders for OUTSIDE
account Representative houses. sucA as r lower
& Co. were moderately active. the nrTn named
belng a heavy buyer Of Amalgamated Copper BE-
tween a. and 49, Tie advance IN this issue
4, the afternoon was helped by the report from
Montana report that subsequently proved to
he correct-that the Montana Supreme court
had reversed the decision of the lower court
in the so-called 1IacGuinniss suit against the
AnlalFauated Copper Company. This decision
favored the Hefnze interests. and the reversal
VIII he received with favor by the best inter
osts OF wall Street Regarding the copper Sit
uation Il is interesting 10 note that exports OF
the metal In January were larger than IN any
preceding month in the history OF the trade
amounting TO 2S sos tons, against 20ll5 tons in
March. 1903. the record until the month just
closed Il may prove profitable to watch Anal
gamated Copper stock this year, and il hardly
viii pay TO place confidence In the theory that
the people who are opposing the company In
Montana VIII be able to win IN the long run
on their present methods Of conducting their
campaign.
Foreign houses were not factors in the local
market, md there was nothing I'm the LONDON
market that had any effect on trading at this
centre The foreign exchanges reflected no IN
easiness over the Far Eastern situation; in
-rr' - -
was no activity OUTSIDE the Stock Exchange
interest in Wall Street was directed TO the cot
ton market which continued its mad career
July advancing TO i cents pound amid ire
'rlendous excitement. i looks IL the price
would reach lhe level predicted by the bulls, but
Il appears almost certain. according 20 the opin-
son Of many conservative people, that there VIII
be trouble OF a serious nature fin cotton II the
present wild speculation continues. The price
recorded yesterday ia tais city was the highest
ia tvyentv-ninc years. Fear Of 2 collapse in cot
Ton. and its resultant serious losses doubtless,
was a factor In checking activity in stocks and
fnducing operations on the bear side OF the mar
l,st Despite She Analeawated Copper decision,
the general market was weak throughout the
afternoon. Amalgamated. Atchison. Pennsyl-
wanna. Southern Pacifc and Union Pacific sup
plying The only strong features. The first named
closed at a net gain of %, While the others en-
joyed fractional advance.
Bear traders attacked Brooklyn Rapid Transit,
forcing the price 10 45is. but the close was 1
point higher ~ 46'4. net loss OF p. Selling in
this issue was accompanied hy rUrnOrs OF a new
large bond issue. but the chances are that ef-
forts were made 20 shake out tired long hold
Sings. Brooklyn Rapid Transit stock VIII doubt
Jess not receive dividend ar present. but people
--ho can afford 10 lock the stock UP ought
eventually TO possess Grst class Investment.
Brooklyn is an enormous borough and its pop
ulati0n is growing rapidly. The Brooklyn Rapid
Transit Company controls the transportation
raciIftlls shore. AID when the roads improve
lrlents are completed * viii Doe in position %
handle moro fares 90 q cheaper cost, and to eN-
lead the promise OF dividends United States
Steel preferred sold Off On The announcement Of
John y. Rockef-icc's resignation from the board
81 directors. bus Che price steadied before the
close. In the > per cent bonds heavy dealings
were reported at 72ia down TO 717s, and then
hack TO 12ss. the fral quotation Money on call
was easy. ruling az -. per cent and sterling
exchange was heavy. Commission houses were
rot active borrowers.
The DAYS OPERATIONS IN BONDS.