New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-08
'Ex oividsnd
BONDS.
STOCK MARKET OPERATIONS.

Interest in Yesterdays stock market was again
centred in the industrial list, the chief features
OF the trading being supplied by the iron and
steel stocks. which made further improvement
on an active volume of business. In the gen
eral list transactions were not heavy. as COM
pared with the daily operations of the last few
weeks commission house orders for railroad
stocks being light, while the professional ee-
,nent was not disposed TO trade actively pending
the outcome Of the Presidential election. The
bull element in the steel shares, however, worked
on lines that compelled professional and outside
interest IN the shares especially in United States
Steel common, which enjoyed maximum adj
vance OF 2ss points. closing at 257s, a net gain
OF 2ls The preferred enjoyed a net gain of
1% while Tennessee Coal and Iron, Republic
Iron and Steel and Colorado Fuel and Iron
also moved TO a higher level, although the last
named reacted before the close. Activity in these
issues was not accompanied by news develop
r1ents affecting the properties but the bull
campaign based the known expansion
that is taking place in the iron and steel bust
ness and the extremely encoura ging outlook for
O. large volume Of business throughout the next
twelve months. The United States Steel Cor
poration is working its plants to nearly
their full daily capacity. and. according to peo-
pie identified with the concern. business in sight
will begin to tax TO the utmost the facilities
OF the various constituent companies. IN the rail-
road list the heaviest dealings were supplied by
Atchison, Erie, ST. Paul. Union Pacific. Penn
sylvania, Southern Pacific and Missouri Pa
cifc IN which prices were generally higher at
important final gains.
Many industrial stocks which have been mac
tive for long time came to the front in yester-
days market as features, and the character Of
the dealings suggested active efforts on the part
of substantial interests TO bring about higher
quotations Such stocks as Corn Products,
United States Realty and international Paper
were bought in fair amounts rising values,
while good inquiry developed for the railway
equipment shares for the account Of people who
are bullsh on these issues, owing to the marked
Improvement recorded by the companies in the
volume Of new business in the last two weeks.
The fact that orders for new cars received by
the American Car and Foundry Company in the
month OF October showed an increase Of upward
Of ten thousand cars, as compared with the pre-
ceding month. warrants increased activity in the
Car and Foundry stocks and encourages invest
fllent confidence IN the preferred, on which divi-
dends are paid at the annual rate Of per cent.
Notwithstanding the reaction In general trade
last year. which was reflected in a large falling
off in the orders for new railway equipment the
American Car and Foundry Company not only
fully earned it's dividend on its preferred stock.
are fast becoming liberal buyers Of equipment;
also Of steel rails and structural material. mas
much as they are convinced that traffic condi-
lions viii continue 10 improve, and that the
railroads of the United States are entering a
period Of many months Of prosperity. Reports
received yesterday from the Western traffic
managers were optimistic. this optimism being
backed by steady gain IN the volume Of traffic,
both In shipments OF agricultural products and
general merchandise.
OF the total dealings in all stocks, amounting
10 over 100000 shares. over one-half was sup
piled by the Industrial issues, the United sta ties
Steel stocks alone furnishing over $4,000
shares. Closing prices were generally near the
best Of the day, the heaviest gains in the active
list being recorded by Atchison, Baltimore and
Ohio Missouri Pacific. Reading, Tennessee Coal
end Iron, Union Pacific and the United States
Steel issues There no material change in
the money market or in sterling quotations. Seu-
tirnent at the close of business in Wall Street
was bulsh. and traders went home with the
arm conviction that President Roosevelt would
1pe elected and that further improvement would
be recorded in the securities market