New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-09
BONES.
THE DAYS OPERATIONS IN STOCKS

THE DAYS OPERATIONS IN STOCKS.
Trading in yesterdays stock market was
leat in volume on a movement of values that
showed net gains in the greater number of is
sues. Dealings We're made up chiefly Of the
operations Of professional traders, commission
houses having few orders, while outside OF pool
transactions in a few unimportant stocks specu-
lative interest, other than that exhibited by the
board room element. was not a factor in the
days business. An upward movement of mod
crate proportions in a number Of the so-called
specialties was a feature that attracted some at
tention, especially in Colorado and Southern. in
which the Hawley pool ct work, and in
Mexican National preferred, which apparently
being taken by the same interests who were
active in Mexican National stocks year ago.
Wherever buying orders We're noticed traders
bid up prices, as for instance, in Western Union.
which advanced points by the traders
on the appearance Of a commission house or
der for one thousand shares The price was ad
vanced rapidly that the order named was
not executed, and then the quotation fell back
until within fraction of the figure from which
it started closing. however, on another rally.
In the United States Steel issues the preferred
was advanced a point a fair volume of bust
ness but in the common trading was unirn-
portant Brooklyn Rapid Transit moved under
the influence of the pool that has been operating
for many weeks in this issue while in the other
traction shares there no activity Of any
consequence, although on the purchase Of a few
shares Manhattan rose nearly a point Senti-
ment was favorably impressed with the figures
Of the weeks movement Of money. which showed
an increase in the cash holdings of the banks Of
nearly 100000
The banks gained a large amount of money
from the interior with heavy receipts from the
South; also large receipts from the West and
nearby points In addition to the gain on this
account the banks received about 100000 on
gold imports and nearly 100000 on receipts Of
gold on New-York Assay Office checks and on
Geographic transfers from san Francisco Ac-
cording to this exhibit to-day's bank statement
ought 10 make most fayorabl showing in its
cash item, but il is not safe to figure on the re-
serve above legal requirements, owing to the
peculiarities Of the system which is employed i'm
compiling the weekly Clearing House figures
Call money is now at a comparatively cheap fig
ure, while the prospects favor low rates for
many weeks TO come. Indeed. the present condi-
ton Of the market encoUra ges the expectation of
no disturbance in the local market in the course
OF the year unless there should he an uuex-
pected radical change in the position Of financial
and industrial affairs in the United States In
the foreign markets a slightly drn.er tendency is
noted il the money markets, while great I'M
easness is reported on all the European ex-
changes over the situation IN The FAR East and
the possibility Of Developments which may in
volve more than ole power in the conflict be-
tween Japan and Russia, which Europe appar-
emily believes is about 10 begin. local fnanciers
ere not alarmed over the effect OF the war in the
East on this country. so far as the possibilities
Of the United States becoming mixed up in the
affair are concerned, but they recognize the prob
ability OF a general liquidation Of securities in
the foreign markets, which of course would be
indirectly reflected in the markets IN this coun-
try. Such wa:, however. viii not decrease the
actual value O. American Investments. and peo-
pie who own such securities ought lot to sell
them. Silver was strong in London yesterday.
and the advance was factor in the strength Of
the Mexican issues. 1t IS argued ;hat war in the
Far East would cause an appreciate rise in the
price OF silver, and Mexico, being on a silver
basis. would naturally benefit on any advance in
the price Of thu metal
Southern Pacific stock was I'm 2 fair demand,
the inquiry being encouraged by the improve
-nent reported by the company IN its November
earnings. Gross income for the month increased
$449 coo wh.le-tllere was . gain 81 net of over
ST7200o This property is now reaching posi-
ton where & can show a larger proportion Of
re- earnings as compared with year ago. owing
10 the fact that extraordinary expenditures or
the property are now apparently 1t an end, and
holders OF the stock may now look forward With
some degree OF confidence 70 2 dividend Gist.ibu-
ton. perhaps IL the current year. For the five
months % The fiscal year net earnings amount to
nearly Sl400HO9o while after charges there is
4 balance OF orer SG4T000a and after the ex-
feEditCres on oetterueGta and additions there ia
a deiicit OF Sce3.000. compared with zee deficit
* $2,2s30o0 N TIE Sane period the yesr before
Earnings received yesterday s,lCw IS Il rule
ro.cwoTthy gains over TIE s2me tine in 1907
especially IN tie case OF Illinois Central and
Esw-Yc-k Central for December. Ncw-York
Central elbows n gain IN SToss earnings for De-
ceTrber Of $4,000 a gain for The quarter ended
December 81 Of $751; $50. and a gain for the six
months Of the fiscal year Of $..3s3GGg
LIE DAYS oEERAIIoNs Ih nnMno