New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-20
enlisted
Closing prices yesterday of bonds dealt in
With net changes follow:
STOCK MARKET OPERATIONS.

Transactions in yesterdays stock market were
not heavy in volume compared with recent
dealings while the movement of values showed
greater weakness than recorded in a number
Of days. The declines. however. were purely
speculative in character and in no way repre-
scented uneasness on the part OF investors or
important liquidation for the account OF the
more substantial Wall Street interests London
prices were lower and this fact naturally en-
coursged selling in the local market at the open
ing The declines thus brought about induced
bear pressure, which was accompanied by real1z-
ing sales throughout the list. An announcement
of further gold import engagements failed to
affect favorably the course Of values, but II
served nevertheless, to increase confidence IN
Wall Street circles in the belief that there will
he no disturbance in the money market this
wear. The prospects favor large importations
of the precious metal IN the autumn months,
owing to the large shipments that have already
been made and will be made in the course or
the next few months of cotton and grain, and
+o the WILLINGNESS Of foreign bankers to let this
country have all the money it needs at this par
ticuIar time Of the year. There Is a good DE-
roand for money all over the United States. and
our financial centres. Moreover. foreigners are
huving large amounts Of American held invest
roen+ securities and this fact Of course, creates
q condition in the foreign exchange market most
favorable TO New-York There is less inquiry
at the Treasury (the federal Treasury for funds,
an indication that the interior is we'll supplied
with currency and that the demand on New
York for money IN connection with the financing
Of the crops will be less from now on
In the afternoon trading partial recovery
in prices was reported the advance being due to
buying by important speculative interests and
covering by room shorts. Traders who sell the
market short nowadays are not anxious to re-
main on the bear side for any length Of time,
and as consequence they cover whenever the
market shows the slightest tendency Of weak
ening There is not extended snort interest
in the market and there is not likely to be one
for long time TO come. The heaviest losses
were recorded by Canadian Pacific, ST. Paul.
Illinois Central Metropolitan Securities MIS-
souri Kansas and Texas issues, Reading, ZEN
ressee Coal and Iron. Union Pacific and the
Wabash shares. In view Of the recent sharp au-
vance in Canadian Pacific it's decline Of over
nov cent was not at all surprising. and the
movement toward a lower price, as we'll as in
o+ber narts Of the list, caused no uneasiness
avoonp the advocates of higher quotations Re
alizfng sales in Canadian Pacific were well
taken but the pool which is operating In the
stool, was quite willing to see temporary lower
esrre for the issue. Indeed, IN most parts OF
the list. particularly in the early operations
the larger speculative interests showed little
disposition to support their favorite securities
doubtless for the reason of acquiring more stock
at cheaper figures. A further reaction in stocks
would help the general speculative position ana
it ia not unlikely that moro declines may take
place in the course OF the week IL however, Is
not a good time to predict the development OF
long sustained downward movement Condi-
tions affecting values are too strong for that