New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-10
BONDS.
STOCK MARKET OPERATIONS.

Transactions in yesterdays stock market were
made up in great part OF the operations OF the
professional element commission houses having
few orders. while the more substantial interests
we're not actively identified with the days course
OF dealings The rally that began in the market
Of the preceding day continued IN the best part
OF the five hours Of business. advances Of per
cent and above being common among the active
issues Amalgamated Copper, St Paul, New
yorl, Central, Reading aud Union Pacific show
ing the chief Improvement at the start The
fact that trading was lighter in volume than IN
recent days. and the fact that the larger opera
tors were not active in speculation were not
al all surprising. in view Of the tinidity Of the
public after all periods Of heavy declines and
the advantage taken Of those declines by the
large investment and speculative interests 10
accumulate big line Of securities. the latter
element is now waiting for higher prices. which
it believes will be brought about at no remote
time while it stands ready TO add to its lines if
further liquidation should take place. 1t is
thought that there is still large short interest
in the market, and unless there should be some
adverse development in the course of the week
this account ought to prove q strong factor IN
making for higher prices. In yesterdays deal
ings the so-called Hoffman House crowd changed
from the bear side TO the bull side Of the market
but it's operations We're not important
Early strength in the local market was chiefly
due 10 buying induced by the higher range Of
prices in London and the evidence in the for
eign markets Of less Uneasiness over the Far
Eastern situation affecting the attitude OF
France toward Japan, and the possibility of In
ternational complications result of French
naval officers ideas on neutrality. Happily
there appears to be a disposition among the
foreign nations TO prevent serious consequence
over the long stay OF the Russian feet in French
money market Of a belief on the part of the
banking interests of Europe that there will be
any trouble that might force England to sup
port Japan with its arms in the present war,
and just as long as the money market remains
undsturbed there need be 10 fear over the
outcome Of the present discussion regarding
French neutrality. In Mondays market there
an advance IN the Paris cheque on Lon
don from % francs 10 centimes 10 % francs
III confines, the higher rate evidently reflect
ing the intention on the part Of French bankers
10 support the London market, which, for a
brief period, exhibited signs of nervousness over
the possibility that the two nations might be-
come involved in the war. bat the course of the
London market yesterday removed all fear re-
garding the thoughts Of the banking community
OF the worlds chief financial centre over the
Far Eastern outlook, regards other NATIONS
The days market as far as prices were con-
cerned, was made in the first hour, as after that
period there were only unimportant fractional
variations In quotations, while trading became
exceedingly dull Total dealings for the day
amounted TO only 546,39S shares the smallest
full days record in many weeks. At the close
prices were fractionaly under the best of the
Gay. with the heaviest net gains in Amalga-
mated Copper, Anaconda, Atchison, Canadian
Pacific, St Paul, Northwestern, Northern Pa
cihc' Manhattan, New-York Central, Southern
Pacific and Union Pacific In these stocks i'm
provement amounted to more than IL per cent.
Money rates Were unchanged, while sterling was
10 points lower for demand