New-York tribune., 1905-01-14
BONDS.
STOCK MARKET OPERATIONS.

While there was no sensational activity IN
yesterdays stock market, the movement of
values presented great strength, with substan-
sial nef gains IN the majority OF issues at the
close The local traction shares. including In
terborough on the curb. Union Pacific. Anal
Eamated Copper and Northern Securities on the
curb, supplied the chief features of the day in
Wall Street. operations IN these shares repre-
senting the transactions of an excellent class OF
dealers, especially in Union Pacific and North
am Securities. The latter stock made new
high record. selling five points above its final
quotation OF the preceding day and its advance
naturally Increased bull confidence in Union
Pacific and led TO predictions OF much higher
prices for the Hartman stock Union Pacific's
holdings of Northern Securities represent an
enormously valuable asset. and the same thing
may De said OF its ownership of Southern Pa
-snc stock two factors that doubtless win be ef-
fecttve IN making Union Pacific shares leading
features in the market of the current year
There were no news developments accompanying
fhe upward movement in Northern Securities.
fy.It the Street heard various rumors regarding
the Northern Securities situation that encour-
aged the belief that whatever further legal ac-
tion might be taken by the Hartman interests
,n the long drawn out Northern Securities case
would not interfere with d final settlement
arreea lble 10 all clements in the company. The
in1pression that absolute harmony viii prevail
among the acknowledgement interests is
growing stronger in well Informed Wall Street
quarters ard the Importance of such develop
Inent will be appreciated by all holders Of
American railway Investments.
Interborough made "A new high record at 193,
and rumor that a deal pending between
the Metropolitan and the Interborough COM
panies exerted favorable influence on the
shares of the surface road. the price advancing
RH-hii
q small range. Manhattan stock is selling near
ly 40 points above its low price of 1904, and
the chances are that it viii go to 200 in the
current year, if not higher. a guaranteed 4
per cent investment. IN the afternoon trading
prices showed better strength than in the morn
ing operations, and many issues that in the first
two hours were inactive came into prominence,
notably St. Paul which enjoyed maximum
gain of over 1 per cent and 500" common.
AmaIgamated Copper headed the list in point of
activity, advancing over 1 point, while the
curb the various copper issues dealt in in that
market were in fair demand from buyers who
are firm believers in the theory that the Stats
tical position OF copper trade this year Will bring
about demand for the copper stocks of sufti-
cient volume TO carry quotations many points
above their current range. Money rates re-
zneined at an easy level and in the developments
affecting monetary conditions at this centre
there was notning on Wnlch a preolcuon or
higher quotations in the near future could be
based According TO the known movement Of
money in the week the local banks have gained
net over S12.00000o, receipts of currency from
the interior being the largest ever reported I'm
one week in the history Of Wall Street. Money
VIII continue 70 move toward this city for many
weeks, and, despite the probability of large gold
exports. there appears nothing in sight 10 pre-
vent great plethora Of funds at this centre.
Closing prices in the greater number of issues
were at about the best OF the day, with the chief
gains in Amalgamated Copper. American Hide
and Leather preferred. Anaconda. Baltimore and
Ohio, Canadian Pacific ST Paul. Metropolitan
the 500" shares. Pennsylvania and Union Pa
cifc. On small dealings Great Northern pre-
ferTed advanced points net and Pullman over
points. The 500 stocks We're in good de-
znand for the account Of local and Canadian in
ferests, the common advancing per cent and
the preferred ~. Earnings Of the company are
increasing rapidly. and it is thought that larger
dividend distribution may soon be made the
common. There IS little OF the 500 stock
available for speculative or investment pur-
poses, the greater part OF il is held in the
Canadian Pacific treasury.