New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-20
sJInlisted-
Closing prices yesterday of bonds dealt in with
STOCK MARKET OPERATIONS.

Transactions in yesterdays STOCK nAel net 'SAe
heavy in the leading issues on a movement Oh
values that showed net advances In the greater
number Of securities Efforts to bring about
Io,Ar 7,rices were noticed in the early trading,
and in a number of shares considerable weak
ness developed but in the afternoon the entire
list was strong under the influence Of active
bidding by the short account and some support
from the leading speculative interests Inc
blast from the Boston operator failed TO ahect
prices Amalgamated Copper declined traction
ally but the buying the reaction was or the
best sort and although the directors OF the con-
Germ did not advance the dividend rate few per-
sons believed that they would there appeared
to be an active demand for the issue from the
shorts and from commission house traders The
copper situation is sound, and according to the
people who know something about the actual
position of the copper business there is no rea-
son to take any account of the bearish talk that
is heard in some quarters on the copper secu-
rites The time is not ripe for general ad-
vance, in securities prices but there is good
excuse for extreme bearshness. The heaviest
operations were in Analgamated Copper, the
railway equipment shares, Brooklyn Rapid
Transit Canadian Pacific. Erie, New-York Cen
trail. Pennsylvania. Reading. Rock Island, South
ern Pacific, Union Pacific and the United States
Steel shares. American Car and Foundry and
Pressed Steel Car were strong features, buying
evidently being based on the remarkable activity
now reported in the Carbuilding business The
railroads are in urgent need of additional cars
to handle the present heavy traffic and in order
to provide for future requirements they are plac-
ing large orders with all the carbuilding con-
Germs
Current movements in the stock market en-
courage the idea that there will be impor-
tant bull activity until the money market
of
bankers have warned the speculative community
of the danger of activity the bull side
OF TIM account at present, and fortunately, the
operators who for many months have been
working for higher prices for securities have
listened to the words Of advice and have
trolled their enthusiasm for the moment hop
ing. doubt, that in the future condi-
lions will warrant further operations for rise
Factors affecting the intrinsic worth OF invest
ment issues do not encourage the argument
heard in some quarters that there soon will de-
velop a serious decline in Stock Exchange val
ues but, Of course, If there should be agrees
sive manipulation for higher prices at this
period a situation would be created that would
tend to upset the Wall Street situation. Money
may work easier before the end of the month
and there may be a brief period of comparative
ease in November but the genera! outlook favors
higher rates in December and probability OF
gold imports. Exchange gained 10 points net
yesterday The demand for remittance was less
urgent the greater part of the requirements
having been met earlier in the week but accord
ing to the best informed men in foreign exchange
circles, there is little chance of important de-
preston in sterling quotations in the balance of
the year. The Bank Of England made change
in its minimum rate Of discount at the weekly
meeting of the governors of the institution yes
terday, and the fact that the return for the
week showed much better conditions than ex-
pected naturally increased confidence IN the
theory that there will be serious disturbance
in the foreign money markets this fall Bank
ers the world have been taking precautions
against the possibility Of trouble in the money
market. and, a consequence Of their timely
efforts, it Is likely that there will be no untow-
ard developments in this country in Europe
Railroad earnings now coming to hand show
gains for roads in most parts OF the country
the only important exceptions being supplied by
the Gould companies, which have presented
heavy losses in the last few weeks. The earn
ings of the Gould companies compare with m
usually heavy receipts year ago but nevertbe
less this is not sufficient reason for the falling
off that is now being reported on the Missouri
Pacific the Wabash and the Texas and Pacific
Industrial and crop conditions in the Gould ter
ritory have been favorable There is no decline
in Industrial growth in the Southwest but there
has been heavy competition by other companies
and aggressive efforts by opposition interests to
turn traffic away from the Gould properties
There need, however. be no uneasiness over the |
position OF the Gould roads These companies
are being ably handled. and despite the fight
that is going on in certain quarters against the |
Goulds of the securities of the allied |
Gould properties have cause for uneasiness
over the future value Of their holdings. There |
has been much opposition from certain other |
railroad interests to the plans of Mr. Gould for |