New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-03-11
BONDS.
STOCK MARKET OPERATIONS.

On an active volume of business securities
values moved toward a higher level in the
greater part of the five hours of trading in yes
terday's stock market. many issues making new
high record figures for the year on buying that
represented both speculative and investment
absorption The strength in the London mar
kot based on the growing belief in European
financial circles that the in the Far East
will soon be brought to a close, naturally exert
ed favora bic effect on local sentiment, but the
chief cause Of the upward movement in the
New-York market the abiding faith of the
leading speculative and financial interests in
the stability Of industrial and financial condi-
tons in the United States and an active desire
on the part of the so-called outsiders to accumu-
late attractive securities to hold for the higher
prices that public traders are confident will be
recorded in the course of the next few months
The belief that quotations will move TO a better
level. despite the improvement already regis
tered. is not confined TO the outsiders. as the
more important Wall Street interests continue
10 take securities at present figures in the con-
fdent expectation that nothing will occur in the
near future 10 cause a change in the course of
values.
= There have been a number Of speculative reac-
tons in the last two weeks that have improved
the technical position Of the market and the
chances are that there will be further setbacks
Of similar character before the bull campaign
reaches its limit. Some people are beginning to
say that the big decline is about due-that is
the decline Of widespread proportions that fol-
lows all bull markets-but the best observers
IN the Street see no sign Of approaching perma-
nent weakness. Conditions affecting affairs
that control the investment and speculative
markets are still in favor of the bulls. and If
may prove risky operation to oppose the pres
is s0 alyaL T,y
OF the advocates of higher quotations It is
true That many stocks are selling for all that
they are ntrlnsically worth. but this consider
A-oh does not affect the plans of the masters
Of the bull market a. present
All the leading shares were active features
St advancing prices in the best part of the dav
noteworthy strength being shown bv Canadian
Paclhe, Chesapeake and Ohio. ST PAM NA,r-
l0Ik central Pennsylvania, Union Pacific. On
eiio ana western. Amalgamated. Norfolk and
western, Colorado Fuel and Iron and Tennessee
Coal and Iron Canadian Pacific was again ono
% Inc reading strong points of the market
advancing nearly per cent r. a nan, t,o,
record price at 1883. The demand for This
issue comes from LoGden. Canada and Neu
toIk LOT the account Of powerful speculative
1-eHlsht' also for the account of neonIe who
DuSiiR the stock on IT'S merits as one of
tle cheapest high grade investments on the
-" Inc supply Of the stock available for
speculative purposes is not large evidence ~
winch Is presented in the demand for i =, ~
Ioan market, and the attempts of bea- ,7.
10 upset the plans of the interests who .-o
peHIlo the speculation in the issue have baer
4aIheHlaple failures. The upward rnovernept &,
IalS STOCK encouraged buying of the shares ~
the Canadian Pacific controlled cor,,nar,as 80
Tor instance. Minneapolis, St Paul and c.u1t
Ste. Marie and Duluth South Shore and A.
iantlc. Marked Improvement in ST p.,1 80
Ne"-Aork central was not ACCOMPANIED b
news developments affecting the pronertias
"Hlle the same thing may be said Of the move
hent IN Chesapeake and Ohio which en3o,,ad
net gain Of CPS per cent. There appeared -
De strong pool AT work in the stock and
report that the dividend would be a6varoaa
was current. The general market closed near
the best Of the day on total transactions 90
1885. 299 shares "a
ACCORDING TO the known movement IF cur-
rency IN the week, the local banks have los+
Only small amount of money and 7nlass
thefe has been a large increase in loans ana
deposits to-days Clearing House statement
ought not TO show material changes as COM
pared with week ago. The course of money
rates IN the last six days certainly does NOT
foreshadow unfavorable bank statement
Trade reports received yesterday from the com
nercial agencies covering the industries in all
parts Of the country presented further evidence
II the solid condition of business in all sec
ions Of the United States. and encouraged tbe
-Npectation of a steady gain in domestic and
or~lgn consumption of our manufactures and
asrcultural products.