New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-03-21
SEX dividend.
BONDS.
STOCK MARKET OPERATIONS.

STOCK MARKET OPERATIONS.
Although there was heavy volume of profit
taking sales ard pressure from the bear element
IN yesterdays early stock market. declines were
confined 10 small figures, and, after moderate
weakness in the first two hours OF trading the
general list recovered showing an advancing
tendency fin the greater part of the balance Of
;he ,Iav In view of the reaction of the last week.
there was no serious belief among the room
traders that il would be possible to bring about
important weakness in the leading active Is
sues while among the nterests which have been
supporting the bull side of the market for so
many months there was no disposition to permit
the advocates of lower values to make important
Roadway in their campaign for cheaper quota
tons Union Pacific, New-York Central 81
PAM American SHELTERS and Canadian PACING
we're taken by an excellent class Of buyers and
bieber prices were predicted especially for ST.
Paul and Canadian Pacific The reaction in the
last named stock in the last week served to
Mace the shares in still stronger hands and 1t
is therefore quite likely that the price will move
veil above the high record made yesterday. at
IN OF course. in these times such price is
not high for a high grade per cent stock,
particularly in view of the prices at which other
first class issues of no more intrinsic worth are
selling as for instance, St Paul. New-hork
Central Great Northern and Northwest In
Union Pacific dealings were heavier than III any
other issue on the list, and as a consequence OF
the heavy selling for profits and the efforts OF
certain interests to catch stop loss orders. which
were known 10 exist in the neighborhood OF 49,
the price movement showed decided irregular-
", with alternate periods of strength and weak
ness that ended with the stock at a net gain of
q ner cent as compared with the closing in
Saturdays market.
In the last hour the entire market was strong,
under the influence of buying for both accounts
the chief strength being shown by Atchison'
Canadian Pacific, Louisville and Nashville,
Southern Pacific Union Pacific and New-York
Central. There was no development affecting
the New-York Central property in the day, but
the Street was filled with rumors regarding the
company and a large amount Of buying was
based on the expectation that in the near future
there will be an announcement respecting a
closer alliance Of the Union Pacific, the
Northwest and the parent Vanderbilt system.
1t was also reported, apparently on The best of
information, that the New-Haven would turn
over TO the New-York Central the Ontario and
Western excepting the company's coal depart
ment which the chief consideration that
induced the New-Haven to secure control of the
Ontario road The New-Haven needs the coal
facilities that the Ontario has given it. while it
does not need the Ontario main line that runs
from Weehawkes. 70 Oswego, which, however,
could be used to advantage by the Central.
Canadian Pacific in the late trading made a new
high record price at 800 closing fractionally I'M
der that figure at "A net gain of nearly per
cent the most important advance in the entire
list of active securities. 1t looked as if a num-
Der Of shorts had been put through the squeez-
ing process not only in Canadian Pacific, but in
various other parts of the Market movement
not at all surprising to the people who have been
well informed regarding the character of last
weeks operations and the intentions of the
big men" for the immediate future. Call
money easy, and while time funds were
tri1e frner difficulty experienced in
curing accommodation. Sterling rates We're
lower.
Reports received yesterday from the traffic
managers of the Western railroads indicated a
marked increase in the volume of freight now
being handled. both eastbound and westbound
and scarcity of ears for the proper fulflment
Of contracts with shippers The expansion in
the country's industrial activities evidently is
taxing the transportation companies to an ex-
tent that has made imperative large orders for
new equipment. and it Is therefore likely that
the earnings of the carbuilding concerns in the
current year will show handsome gains over the
rather poor exhibits OF 1904, when il may be
recalled, the railroads were unwilling TO put out
large amounts of money on new equipment
owing to the uncertainty over the future of
business. Predictions that the depression In the
business world in many months Of the last wear
would be followed b. greater contraction
III inc current year have not been fulfilled; in
Deed at the present time the country's indus
tries are in better condition than ever before in
me history'of the United States There IS no
Doom under way Healthful expansion is re-
portsd IN all lines, and in this expansion NAV
~ louI t adequate reason for the builish senti-
nent that prevails in Wall Street desnita the
. .ast tILat money supplies at this centre are
srnp S,ry low. Realizing the conditions re-
spoiisinle ior me falling off in the reserves az
ne associated banks, Wall Street traders ave
nor al all alarmed over the future of the TnoneS,
IharKeb ana passing advances in the rates fo5
can loans VIII not create excitement In tte So
nsaIket. except perhaps. among the lightly mar
VINO generally lose their money
"o matter WHAT may happen in the Street
RnNn