New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-07
BONDS.
STOCK MARKET OPERATIONS.

Trading in yesterdays market was light in
volume on an irregular movement of values
that showed few more net losses than gains
at the close Interest was centred to a great
extent in Reading, Chicago Great Western Is
sues and New-York, Ontario and Western, the
last named supplying over one-half of the deal
inGs in all securities. Activity in this issue was
not explained by news developments affecting
the property, but there were various rumors
about the company, none of which, however,
could be verified. 1t was said that CANADIAN
Pacific interests buying the STOCK while
it was reported that heavy purchases had been
made for the account of people who are ldentl-
fed with the New-York Central and Delaware
and Hudson roads for purposes of control 1t
would appear more likely that the two last
named companies were after the property imam
the Canadian Pacific. especially as they are al
ready interested to some extent in the road.
Opening at %, against 22%. Saturdays close
the stock advanced TO 2512. the last quotation.
total transactions amounting to over 123OOO
shares In Chicago Great Western issues a
moderately heavy selling movement developed,
which carried the price of the preferred a down
12I5 points with a net loss OF 10 points; the
preferred b to 20. with a net loss OF o12' ana
the common to 13A. with small fractional net
loss Reports We're heard that the directors or
the company at their next meeting would de-
eide 10 pass the dividend on the preferred
stock but there was no confirmation OF the
rumors from official quarters. In the company 8
last fiscal wear earnings over fixed charges
amounted to more than the . per cent alVl-
dead which is paid on the preferred a. while in
the first nine months of the current HaCeL' eS1
net earnings increased $216ol
In point of activity Reading followed Ontario
and western. dealings in the stock amounting
to over % 900 shares on a price movement that
fluctuated within narrow limits, showing at the
close no change from the preceding day last
quotation. Elsewhere in the list tho heaviest
dealings We're supplied by Amalgamated copper
Atchison, Erie Rock Island and United states
Steel preferred on small transactions Inter
national Pump declined 213 points. There was
no news responsible for the selling Of the issue
sales doubtless representing offerings OF people
who desired to convert their stock into cash for
personal reasons, rather than for any factor az
fecting the property. This concern has been
paying per cent on its common stock, and in
the fiscal year ended March 81 earnings were
equal to this amount
In bonds business was relatively more active
than in stocks total operations amounting in
par value to 81 ,726 600 II is more than likely
that activity in bonds will increase from now on.
and it is probable that the large accumulation
Of money in the country and the extremely low
rates for funds will be effective factors in
ating excellent demand for railway mortgage
issues AS a rule good bonds selling at a
level which ought to appeal to investors and
spectators. The leading bankers in the Street
believe that the bond market will present the
chief activity OF the summers Wall Street mar
ket. There was change in the money mar
ket. but sterling rates again firm 1t Is
not unlikely that shipments of gold will be made
direct to London in the course Of a few weeks
possibly this week
THE DAYS OPERATIONS IN BONDS.