New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-27
BONDS.
STOCK MARKET OPERATIONS.

Transactions In yesterdays stock market were
hight IN volume. with the movement Of values
confined a. rule 60 fractional variations IN
which cecl res predorninated n the greater part
OF the day. In the last hour there were partial
recover1es IN many issues. but final prices
showed many more net losses than gains Total
dealings amounted to only $685. SIS shares, Of
which the best part was supplied by Analga-
mated Copper Atchison. Baltimore and Ohio
Brooklyn Rapid Transit St Paul Erie. Penn
syivanis, Southern Pacific. Union Pacific and
United States Steel preferred American Sugar
Refining SD Brooklyn Rapid Transit were mod
erately firm features In the early dealings but
al the close they were under the final figures
OF the preceding day. while elsewhere in the
active list the early downward tendency was
followed by Improvement IN the late trading
The room element professed 20 be disappointed
at the failure OF Thursdays advance TO attract
outside following and Il was therefore more
inclined to operate OF the short side Of the
market than on the long side. its pressure.
however. bringing out little stock Many OF
the leading interests are out OF town. and their
absence u.s. OF course. q factor IN creating dull
ness IN the security market. but the chief cause
OF the current inactivity OF speculation is 20 be
found IN the refusal Of the public 20 take an
active part IN Wall Street operations. The pub
lic wiz buy stocks when prices have been showed
up ten twenty points There are. neverthe-
less few wise people who are picking Up
stocks on all reactions. on the theory that when
the rebound from the present low quotations
develops values win sell many points above
existing prices
number OF unfavorable railroad reports
which were received yesterday doubtless IN
creased the prevailing bear sentiment In pro-
fessional circles. The Atchison rystem for the
of $4,000. but decrease In net Of S222. $40
while the wabash showed q decrease IN net Of
S26o26 making for the latter company a falling
Of In net earnings from July ! OF s24 SIS as
compared with the same time IN the preceding
wear. Against the declines for the last month
there were several Instances OF Improvement IN
weekly returns. as. for Instance, IN Southern
Railway. which showed a gain for the third
week In February OF S7S.442: St Louis South
western. which presented I'M the same week a
gain Of S2G.359 and Louisville and Nashville
a gain OF S95.532 The Southern and Southwest
ern roads are making better exhibits than the
companies in other parts Of the country. but II
should be borne In mind that outside the South
and Southwest weather conditions have serious
" interfered with traic in the last two months
The Atchison escribes Its falling Off In net
earnings 20 the coal strike IL Colorado and
Utah which compelled the company TO secure
It's fuel a. more distant points. thus Increasing
JUS expense account while causing heavy loss
IN coal and coke tonnage IN the FIRST week IN
The current month railroad earnings showed a
taliing on from the corresponding period IN the
year before OF per cent. IN the second week
falling OF OF per cent and in the third week
falling OF OF less than per cent
shipments OF currency from New-York are
remarkably small for this period OF the year,
WINE receipts are unusually heavy. In the
week ended last night the local banks received
from the interior S5TOlsOO and shipped to the
interior S944.l00. making a net gain Of 81
f0I.1O0 In their operations with the Sub
Treasury the banks lost 50 l49 300 and their
net gain on al accounts was So 73S 700 The
recent liquidation IN the cotton market IN New
Orleans has released large amount Of money.
which Is returning to this centre, and many Of
the Interior banks having United States depos-
Jus are sending currency 70 the banks IN this
city In expectation OF an immediate call for the
Panama Canal payment The call however,
has been postponed, owing TO the litigation IN
Paris against the Panama Canal Company, and
this fact has had the effect Of weakening the
foreign exchange market
In the last hour OF trading Analgamated Cop
per stock was nrrner on the decision In the
company's favor IN the McGInniss application
for a permanent injunction restraining the pay
Inent OF dividends by constituent companies ana
The dividend on Amalgamated stock payable
Monday. The decision was welcomed IN waIl
Street. as the fight against the Amalgamated
Copper Company has not been popular with the
rank and hle Of the financial community.