New-York tribune., 1905-08-26
Closing prices yesterday of active bonds dealt
STOCK MARKET OPERATIONS.

In the early dealings in yesterdays stock
market the course of values as a rule tended In
the direction of lower quotations, but in the
subsequent operations prices strengthened to
slight extent under the influence of an active
commission house demand and support from the
leading speculative interests. There were many
people who apparently willing to part with
their holdings but offerings quickly alb
sorbed and at the close sentiment in the Street
favored the idea that values would move toward
a higher level, despite the fact that money rates
showed disposition to harden and that prices IN
the greater number of securities closed at net
losses While the early declines were recov-
cred in part, the extent Of the selling movement
prevented net gains for the day, except IN the
case Of Brooklyn Rapid Transit, Colorado SOUTH
ern Metropolitan, Missouri, Kansas and Texas,
and Pacific Mail, of the active list. Reading
after advancing to above 124. declined to 12OA;
Union Pacific dropped to 1347s. against high
price Of 1873 while throughout the list many
sharp losses were recorded the decline being
accompanied by moderately heavy dealings the
Street or at least the trading element on the
Exchange professed TO be much alarmed over
the outlook for peace in the Far East. and the
fact that the foreign advices and the foreign
markets were bearish the ultimate outcome
of the Portsmouth negotiations naturally Gre
ated some uneasiness in commission house cir
to continue to fight the United States will not
go into bankruptcy Some poor souls apparent
" believe TO the contrary.
A revival of interest in the Southwestern rail-
way shares is a feature in the current market
that is attracting considerable attention. For
many months these issues have been neglected.
but it is evident that substantial operators
are buying the various shares to hold for better
quotations There has been tremendous ex-
IL 49,
west in the last year, and, as the crops in the
territory served by the different companies are
large, earnings will be heavy for many months
to come The report Of the Missouri Kansas
and Texas for the third week In August. received
yesterday, showed gain of $3S.S94. making
from July / gain of S34S. 761 comparison be-
ing made with the period a year ago,
while encouraging increases were recorded by
most of the companies in the Southwest The
buying of Missouri. Kansas and Texas issues on
the Stock Exchange has been of the best sort In
| the last few days. and it is believed that both
the common and preferred will sell materially
! higher in the course Of the present bull move
ment, especially as the prospects favor the dec
| laration of a dividend the preferred stock
! Holders of this stock have been waiting many
| weary years for return on the money invested
! in the property, and the chances are that they
! soon will have their hopes realized. as the COM
| pany Is in strong enough financial con-
| dition to warrant the payment of per cent
| OF course. the common win not be placed on a
| dividend basis for some time to come but the
| equity in the stock is appreciating rapidly and
eventually Will be worth good deal TO the hold
ers. st. Louis Southwestern preferred is also a.
| candidate for dividend honors The road has
| heen doing an excellent business and it's out
| look for heavy traffic is most promising Mis-
souri, Pacific and the other Gould stocks ought
| to sell higher, particularly as In the current
market they have failed to share to any I'M
| pOrtant extent in the upward movement 1t Is
thought that Missouri Pacific soon will become
| market favorite
! According to the known movement of money
in the week the local banks have lost more than
| $4,5O000O but the unknown local movement Of
| funds may offset to some extent this loss I'm TO
! days bank statement The range of call loaps
reserve above legal requirements but as the
| money market has been under the control of tba
interests who are anxious TO prevent dsturhe nca
in money and stocks, the reserve account Of IN
Clearing House institutions at present IA ha ardI,,
| a faithful guide Cor who is interested IN
course, when the time comes for a slump in Sc
Curities-that is, when the big men are read,,
20 part with their stocks-nouey rates win uove
more In accordance with the position OF the
bank reserves. The fact that rates for cam
funds advanced TO 3R per cent yesterday en-
couraged some Of the melancholy bears 10 be-
lieve that the turn in the movement of values
was near at hand