New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-08-19
BONDS.
STOCK MARKET OPERATIONS.

---s,sac+4ors On Yesterdays stock market We're
MT heavy except IN few ISSUES IL "tiAO
dealings apparently were controlled py influences
not affecting the general list, as LOT hLstai-oe
fbe local traction shares, which were suoiIs anu
Ito IN ti,vins that appeared TO foreshado"
za,,s,or,oeuts OF Importance IN the local 1raI'S
,o-.a+ion situation. There were no news an
.,,,,c.-nen+s regarding the possibility OF oeal
- 80 sort between the Interborough ana the
,re+-onolitsn cornpanies, but the Street was III
1,-ed IN believe that the movement Oh LIE
sbares WAS e. safe indication OF coming Iiip0'
tent DEVELOPMENTS. Manhattan ao'an0eu ~
nav, high price for The year. selling as NIsh C
tbe record figures Of 1903. while on tas Cu4 .
r..rto-oreI, touched the best quotation YET re-
corded by this security. Metropolitan
rol;tsn Securities and Brooklyn hapio Ai0i-0'S
also Vzere strong features on an active volume u
s-,.,-.,e In the early dealings American Sugar
Refining stock developed great actiVlry "a.
.znense Of its price. which declined over
-, ss,,ine- that was said to be for the
80 .. insiders Talk of aggressive COM
.s...to,, ~, the mart of the independent rerlers
- ,,-.,, as an exclamation Of the weakness III
"a, s..,,o brt The movement bore all the ear
.,,.r,-v or old fashioned Sugar stock manlpula-
ton There is nothing in the trace slIua'io-'
:, Sugar that warrants lower price iol 'ie
e+ocl, Statistical conditions arc elloHs' |
-. ,eerire company is doing DIG ousl-
,,.ee ~ q good profit, and its dfVloeno Is III N'
,staF,Iisbed Fair buying was repofIeu IA -
PM and Union Pacific, hut Southern Facihc
,raS neglected by the people Who rece1i'iS "e1'
active in il o5
Reduction IN the price Of certain steer p'ou-
,,-t. he's spparently been discounted III 'ae
-, ,o,or,rs+ as in Yesterdays trading there
- ~ ,race Of weakness, except small lrac-
,,a1 decline in United States Steel preferred
,.-s,,,+ NJ the action of the United States steel
,,ornoration in the matter of quotations IHei7
s,,,ears 10 be no especial uneasiness III 'hee
,;trse+ oyer the latest developments In the IRON
md steel situation. and SO far there certainty
is no reason TO sell the steel shares Specuia-
,i,a onerat,ons may carry Steel preferred lower
l,;,t MANY good market Judges are advising us
purchase on all reactions. Crop news was liote
a,,o,,rs,ri,,r- and as q consequence there was a
,isposition to buy the Western railroad shares
,,,cl,,dia, Canadian Pacific. Advices received
f-or, Manitoba refIted the reports regarding
IRON damage in that section Of the Canadian Pa
cifc's territory while they indicated much bet
ter conditions than It was generally believed eX-
listed. Earnings Of the Canadian Pacific received
Yesterday for the second week i'll August showed
a gain. as compared with the same time in the
preceding year, Of $4,000. making from July l
an increase Of S54Soo0 AS a rule. earnings for
the first two weeks in August show favorable
results as compared with 1903. ST. Louis South
western made & noteworthy exhibit, its gross
earnings increasing more than $4,000, despite
the fact that the cotton crop has not yet been
marketed.
Erie issues were strong features throughout
the day. the advance being helped by foreign
buying and by favorable reports regarding the
companys current earnings. All the railway
shares were affected by the early decline in the
wheat market but there was little commission
house buying. Total dealings slightly
above those OF the preceding day, with the
heaviest operations in American Sugar Refining,
Amalgamated Copper. American Smelling, the
local traction shares, Erie, Pennsylvania, Read
Ing Southern and Union Pacific, Southern Rail-
way and United States Steel preferred. The
last named issued closed fractlonally under
Wednesdays final figure, but elsewhere in the
active list. with the exception of Sugar and
Southern Railway. last quotations at net
advances Call money lent as low y of l
per cent. The copper stocks were strong in the
last hour, Anaconda advancing > points and
Arnaiganated more than point.