New-York tribune., 1905-08-24
Enlisted. TEX dividend.
Closing prices yesterday of active bonds dealt
in with net changes follow:
STOCK MARKET OPERATIONS.

Stock market movements throughout the world
yesterday reflected belief in the leading fnan-
cial communities that the Russian and Japan
ese peace plenipotentiaries would not adjourn
without reaching a settlement satisfactory to
both nations. Securities markets. as a rule
tell more about coming developments affecting
countries than the people most intimately con-
cerned are willing to give out for publication. and
particularly in such case as the present peace
negotiations owing to the fact that the means
for carrying on a war and the means for set
ting the expenses incident to the declaration of
peace are supplied by the banking iterests- And
as the influence of the banking interests is all
powerful it may be taken for granted that
rising market indicates confidence on the part
of the financers that their desire for peace in
the Far East will prevail While there were
some reactions IN the local market in the after
noon dealings the greater number of securities
closed at net gains, amounting in many cases
to more than 1 per cent. There was good
commission house demand throughout the list
business was better distributed than on any pre-
ceding day in many weeks. and increased in
terest taken in the low priced shares
There are many low priced issues that have
yet failed enjoy the Improvement to which
they are entitled by the increase that has taken
place in their intrinsic worth in the last year,
and in this group may be mentioned st. Louis
Southwestern preferred Chicago Great Western,
Colorado Southern, the Missouri Kansas and
Texas stocks, and Wabash common and pre-
ferred.
Union Pacific. Amalgamated Copper Pennsyl-
vania, American Smelling and Refining, Atcht-
son, Erie, Reading. Rock Island and the United
States Steel issues were leaders in strength and
activity. Amalgamated Copper appeared to be
taken by excellent class Of buyers, and, of
course. much higher price was predicted. bull
ishness on the stock naturally being based on the
strong statistical position of the metal, on the
growing use of copper throughout the world in
various branches of industry and on the we'll
founded belief that copper shares in general that
Is. the shares of legitimate companies eventually
VIII become active favorites with conservative
investors The Amalgamated Copper Company
is a far stronger concern than it was a few
years ago. The water has been squeezed out Of
it's stock by actual appreciation in the real
value Of the properties forming the combination
and it is not likely that frenzied appeals from
Boston to sell the Amalgamated shares will ex-
ert any influence on genuine holders of the Sc
curity. Union Pacific came within fraction of
equalling its high record made last February
when it sold at 1878, while in a number Of Sc
curities new records were reported, notably in
Erie common which went above 81 Canadian
Pacific gained over per cent, closing one quar-
ter under the best price ever made by the issue
and from the character Of the buying it was as
sunled that the quotation would be carried con-
siderably higher before the end of the bull move
ment. The local and London interests in the
property predict 200 for the stock, and as the
issue is worth much intrinscally as num-
Der Of other high grade shares which are selling
higher, it is likely that it will in its market
movements carry out the wishes Of it's friends
Canadian Pacific is big property which prac-
tically has just begun TO develop, yet at this
stage in its history it is able to pay good divi-
dend TO it's stockholders
There We're no material changes in the money
market, while sterling rates remained at the
level Of the preceding day. The outlook for
change in the quotation for call loans in the di-
rection OF higher figures, while promising does
not worry the speculative community for the
good reason that it is believed that there will he
no disturbance in the market. owing TO the de-
sire OF the substantial banking interest 10 pre-
vent trouble in money and to maintain sta bill
ity in the stock market. The stock market an
pears 10 be under the control of powerful inter
ests and II therefore will not be wise To at
tempt TO move against the tide. man who is
heavily short Of the current market is not to be
enVied His only chance at the moment IS an
accident