New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-14
BONDS.
STOCK MARKET OPERATIONS.

Stock market trading was dull throughout the
two hours OF business on movement OF NdIues
that generally tended in the direction OF hlsAsI
rrices. There was no selling pressure IN any O.
-actfon Fl the opening but the demand vas eA-
rraulelv light eng confined as q RUE 70 cover
tng operations OF the professional element "''-
.he chief activity In Pennsylvania Ne"-i o. h
Central St Paul. Amalgamated copper I-l''e-
s+.+es e-eeI preferred. Southern Pacific and
r-oolxly-u Rapid Transit. Advances aNeraseo
u 70 q. per cent ia The general list with eA-
ceptional strength in Delaware ana Hncso'~
delaware Iackawauna and Western, Cananlah
Pacific and Chalmers, the last named rising
Q nor rent on light dealings. Strength at the
o7ening was helped by the Improvement IN me
foreign markets where government issues maze
further recove13es. japanese Is IN LONDON so
vancfnc 10 81 and Russian Is 20 80. III lA7
last half hour losses were recorded from el1
best figures OF the day. selling in OK
Central ana Pennsylvania being the chief feat
ure. the pressure falling however, 10 bring out
any large amount Of long stock. Evening or
bear contracts ia the last few minutes caused d
frn closing. but final prices showed fe" impo.-
taut changes as compared with Thursday s leF1l.
Weakness in New-York Central was due 20 the
belief IN the Street that despite the denial oI
the interests identified with the company there
600 10 cover the expenses of the roads terminal
improvements in this city. The company would
doubtless have no difficulty in securing this
amount OF money or larger amount from the
local banks and an operation Of this character
ought not TO cause alarm in Wall Street
The city banks are well supplied with funds
and there Is no reason 20 assume that bank
conditions in the next few months VIII develop
factors that might upset the money market
cash holdings last week showed a loss Of
81 .G63 800 and reserve above legal requirements
declined 81. 463. so 10 S20379 90 as compared
with SI55o9G75 a year ago and Sl3.JGo.SJo in
1868 Loans increased S71910o The loss IN
cash was the surprising feature of the state
--eur as the known movement Of money in the
week as compiled Thursday. indicated a gam
q over 100000. Bank statements however
quite often fail 20 reflect the actual position OF
The Clearing House institutions, owing to the
system Of averages employed ia making up the
figures. The Street considered the exhibit dis
appointing. and some traders sold stocks follow
Eng Its publication. The general tone q comIrls-
son house advlces 20 customers at the close Of
rha week was moderately hullish No serious
cecliuc is looked for in the immediate future
and orerarors who esDouse the bun side or the
market poi.t 20 the fact that prices have shown
remark, bic resistance TO the many adverse de-
--clouments OF the last few weeks. indicating.
tnev uel.eve. great underlying strength both Ia
the stock and money markets. II the securileS
market was in the position OF THIS time year
aeo tre out break q war IN the Tar East ana
the baltimore FIRE would have vastly dlIeieit
effect on values from that so far recorded
TD~f-ee are standing the shock Of successive
blows IA a manner that ought 20 encourage all
holders ~ securities.