New-York tribune., 1905-06-07
BONDS.
erocK MARKET OPERATIONS.

-. trading was light IN volume
+brouqhout the five hours OF business oii ga
-ee,,1ar movement Of values tnat WouiIu uN
dsv with many more net losses IMAM 80,
There was nothing in the news that wa. 60,
,,,,tdotton and, as a matter or 1act' inc 'e
o.s mas not attended by selling by llipoi '"-1
i,,+oras+s the sales representing, as a Fuie' ~
o+ions of the board room element WHICH CIV
. ral,a ouick turns on the short side Oh
sneculation. The reported assasslaa'ioi % =,
80 of Prussia failed to create disturbance IL
-, .,,r,+.ae markets in Europe or in the
r-.4o5 c+o+es nrices abroad showing few III
-. changes while there were no movements
e ir,,,ortance in the money markets at the VaIl-
,- T7,,ronean capitals At this centre money
ro-,oined easy, and despite the low positioh u
+re hank reserve above legal requirements tiieie
was no indication in the market Oh Iii"'e 'et'N'
change in lending rates, although bankers CA
dressed the opinion that quotations lof io''''s
-zo,,b+1ees would grow nrmer about the first Oh
I,,lz when preparations will be made for large
interest and dividend disbursements
Sailing of Amalgamated Copper represented
,..4,o ho,,ond the operations of the board room
element traders taking the view that the report
of the company issued Monday was distlhc'iy
,,nfavorable especially as Mr.. Lawson OF boS-
ton, had said so. As matter OIL 1act 'ne ie
mort showed that the company Is MAKING coii
ser,atfve profits. while it failed to show the
large assets of the sub-companies' as lot III
e+ance the cash and copper assets OF the bos-
g., o,5 Montana and Anaconda, amounting to
,.,,,, ,,,illions of dollars American Steel Foun-
dries nreferred was a weak feature, owing TO
tho collanse of the speculation IN the issue. the
buli pool being unable to attract public interest,"
In the securities Of the company, but the cecLle
failed to have any material effect on the general
| market In the last hour most stocks were weak
Nth +he chief declines in Amalgamated Copper,
which lest over 3 per, cent; Colorado Fuel anu
| Iron St Paul, Northwest. Consolidated Gas,
| New-York Central, Reading, Southern Pacifc'
Union Pacific and the United States Steel shares
! Total transactions for the day were under 3oO,-
! 600 shares Traders naturally were not enthusi-
astic over the developments in the Equita bic
Life situation and, of course. endeavored to
make capital out Of the unfortunate position OF
| affairs involving the big insurance company.
Investors however, were not sellers.
While it is too early to count on current esti-
mates of this years yield of wheat, it is en-
couraging to note the fact that weather condi-
tions are now all that could be desired In the
/ wheat belt and that III trustworthy sources the
/ winter and spring wheat harvest combined is
! placed at above go 100000 bushels. AS there is
| no reason to assume that there will be a radical
! change in the present favorable weather condi-
tions there is much reason for confidence in the
outlook in the agricultural community. And the
! same thing may be said Of the general Industrial
outlook At present the business situation is
most encouraging in whatever light it may be
! considered and it is therefore not surprising
that the leading men in Wall Street are inclined
| to believe that there will be no further materta
liquidation in securities or important declines IL
values; indeed it is believed that values soon viii
begin to work in the direction Of a much higher
| quotation level. In the greater number of case!
! stocks are not dear at prevailing figures, and /
! is expected that such issues as Union Pacific
/ Southern Pacific. United States Steel preferred
! the 800" stocks st. Paul. the Southern ant
I Southwestern railroad shares and Canadian
Pacific will be among the leaders when actfv'
! bull operations again develop. Securities II
general are held by strong people, and natural!
! they will not come on the market until larg
| profits are shown the purchase. The fac
that stocks are selling many points under tn
high figures of the year attracts careful buyers
especially at this time when conditions in none.
and business are so favorable.