New-York tribune., 1905-11-21
STOCK MARKET OPERATIONS.

Prices for securities in the home and foreign
markets were strong throughout the day. Senti-
ment was bullsh in commission houses over the
outlook for the market in the course of the next
few weeks and the fact that the socalled PUBIC
appeared to take a greater interest in speou-
latiye operations naturally encouraged the IN
elders TO place increased confidence IN their be-
lief that before securities values suffer ma
terial decline the bulls will be able to part with
their holdings at figures we'll above the current
level There are not many real bears in the
Street at present, but there number Of sold
ont bulls who would like to see lower prices in
order to accumulate new line of -tocks Trad
ing was well distributed in the 1ve hours of busi-
ness with the heaviest transactions in Brooklyn
Rapid Transit, st. Paul, Federal Mining, Louis
vile and Nashville North American, Reading.
Missouri Pacific. Sloss- Sheffield Tennessee
Coal and Iron, the United States Steel shares.
Union Pacific and the copper stocks. Many of
the low priced issues were in demand and higher
prices were predicted for this class of security,
particularly in the case of Chicago Great West
ern, Colorado Southern, the minor Gould issues
and Pacific Mail The Gould group Of stocks
has been relatively inactive and heavy in the
last few weeks but there are indications. par
ticularly in the case of Missouri Pacific, that
buying is now under way for the account of sub
stantial market interests, including people close
to the MANAGEMENT of the Gould properties
Missouri Pacifc's earnings since July l until
within the last two weeks have not been large
as compared with the same time in the preceding
year, but traffic is now growing heavier and it
is more than likely that the losses made in the
first half of the fiscal year will be recovered in
the second half, this being the advice received
from Missouri Pacific traffic men.
There were unfnportant reactions in the late
trading but in the majority Of issues final
figures showed net Improvement many of the
active shares closing point or more above the
last quotations in Saturdays market. Anaconda
ended at net gain Of lOA points, while else
where in the active list the heaviest advances
were made by American Locomotive American
Smelling, Brooklyn Rapid Transit. Canadian Pa
cifc North American, St Paul. Missouri Pa
ciac Ontario and Western Northern Pacific.
Reading, Sloss-Sheffeld, Tennessee Coal and
Iron and Union Pacific. Great strength and
tivity in Brooklyn Rapid Transit were not ex-
plsined by news developments affecting the
nropertv while there was little in the days
local news accounting for the upward movement
advances being due to the better feeling in the
foreign markets and to the aggressive operations
Of the element which is committed to the bull
side of speculation. Total dealings amounted to
more than one million shares, and although the
activity was not altogether liked by some OF
the more conservative interests IN the Street.
the greater number of people in the speculative
community were intensely bulisa and could see
nothing in the situation that demanded more
than ordinary caution WaH Streets NUMBER or
bulls is growing.
Can money did not get above 61a per cent
while sterling exchange after early advance
weakened under the pressure OF increased offer
ing of bills. The Improvement in bank
ditions as reported in Saturdays Clearing House
statement naturally has induced the belief in
speculative circles that there will be more
high money rates this year, but the opinion OF
the leading bankers favors the theory that while
there will be no disturbance in the money mar
xet rates Will rule at stiff level over the end
of the year, owing to the active demand for
funds in connection with the countrys great
business expansion. Fortunately the larger in
terests in the stock market well supplied
with money