New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-04
BONDS.
STOCK MARKET OPERATIONS.

No damage would be done 10 the country in
general II the Stock Exchange should be closed
FOR time while brokerage houses would suffer
no loss In commissions. as no business IS being
transacted for outside account. one session
week might be held in. order 10 accommodate
the boardroom traders. but even that should be
confined 10 a half day The dulness in the
street is oppressive the small amount Of work
that clerks have to handle is uniting them for
future activity, while the loss the brokers are
suffering in income IS making them irascible
and thin. The governors Of the exchange ought
10 consider this sad situation most carefully
and declare the board room closed for at least
five days In the week until the public viii mend
It's ways and deal in securities. In yesterdays
operations a few unimportant traders dealt in
a lazy way on both sides OF the account. and as
a result OF their transactions final prices in the
so-called active list presented small fractional
changes. generally advances. as compared with
the preceding day. Total dealings amounted 10
1900 shares. against 100 400 in the preceding
DAY. A large proportion OF the trading was sup
piled by Amalgamated Copper. Brooklyn Rapid
Transit, Chicago ana Alton. Mexican Central
Pennsylvania, Southern Pacific and United
States Steel preferred. in which the tendency
was. as a rule IN the direction Of higher prices.
especially in Mexican Central and Chicago and
Alton. Efforts are apparently being made to
create public following in the last two issues.
hut az the moment there appears little chance
OF success.
News developments OF the day had no in
1uence on values. Reports Of further rate cut
ting both in the West and East. increased gold
shipments TO South America. and a call by the
Secretary Of the Treasury for SSO0oO00 from
The city banks on Panama Canal payment ac-
count were treated with complete Indifference
Some OF the specialties were advanced sharply
on insignificant dealings but the movement was
wholly professional The fact that extreme
dulness was accompanied by nrmness in prices
vas the one encoUra ging feature Of the day
Money rates al home and abroad remained un-
changed, and there was no movement Of i'm
rortance In the foreign exchange market The
general stock Of money in the United States. in
Guiding government holdings increased in the
month SlG.25G.G54. while the amount Of money
IN actual circulation decreased S15.502 $50 al
though showing. as compared with a year ago. a
gain Of Nl.s'.lG2.9Il. Based on a population ~
the circulation per capita is $50 -. a
pretty fair amount, despite the high cost Of liv-
ms which shows an increast from this time last
year OF over = per cent II is a small gain in
view q the high prices Of commodities but Il is
enough 20 fierce the reflection that a material re-
action must develop al no remote period. The
markets are too high. and the same
thing VIII happen I'm grain and cotton as took
place IN the securities market last year. although
the bulls in the cotton and wheat pits are conf
dent that the present level VIII not he lowered
il is 10 be observed that exports are falling Of
because Of current quotations and that the vs~
In the Far East r. not attracting new demand
for wheat or other cereals. This war viii not
make a new market for our wheat and corn.
The country has a great opportunity. however.
10 increase its trade in Eastern countries. and
when peace is restored there ought to be a large
expansion IN exports from the Pacific Coast 10
Japan, China and other Asiatic lands