New-York tribune., 1896-12-07
'o,aIs. 81 cos So sol 800 $5.3sl. SAC Dec Sji9G63
THE WEEK IN WALL STREET.

Bear operators In the stock market last week
were unable TO force any important hquidatoh'
and the operators for short account were con-
stantly forced to protect themselves by cover
Ing the result being higher prices In the ma
jorty Of shares at the end or the Week Inc
professional operators, however, were not aiohe
In stock market operations, as there was some
commissi siOn house buying and occasional sup,
port from large interests while many sihaii
investors were looking about FOR prohtapie pa
gains. The amount Of STOCK ana bonus Which
Is being taken out OF the Street by small IN
vestors is Increasing. and especially prohounceu
is the movement in railway bonds. the demand
for which in the last week showed an appIe,
cable gain while the number Of issues traded
In indicated an enlarging and legitimate invest
ment inquiry. In the week railway BOND trans
actions showed an increase in par 'aue VI VI
S15500O over the preceding week, and IN
stocks increase OF Dos, ,J3S shares ficay u'ie
traders on the Stock Exchange VINO nav oeei' zen
going Short Of stocks because investment az
tvity has paused. are not altogether SURF VI
their position. as reflected In their haste ~ ~
cover In the week They are Desihhins - -
IeaIize the Weakness of their posl'ioh' anu ~
tremble at every shadow report or suspicion
winch may indicate the presence OF 'he oo',,7 ,,
OF some important interest lnto the ,u MAJ me,
They are awakening to the fact that no ih'es.oi
cares TO sell his holdings: that none OF the lalse
interests all fearful Of the deveiopmens
Of any adverse factor in the genera pus,i',es,
situation and that their caihPaism Pi,,,ro The
values has been lamentaDle Ialiuie ,,,s
stock market cannot be broken Dy pear t!ion
IN times raplete with the signs ana inuioa.N mo nnN,s
OF National peace and plenty. on,nn Hsn,re,ions
can be made on insignificant nuctuauons -
brought about by bear pressure when tneIu , 20
10 active support to prices, put sucn 't"e nn
has no material influence upon unuerIS ,des dns The
ditions in the market and no one Degrudges ,he
The real conspicuous feature or the security
markets is the absorption OF railway S.a'e anu anu
municipal bonds which has been soihs o' s SIN.
the election. In State ana CITY poIus III, r.i
for November as compiled by The finahciai
Chronicle" makes the best showing OF !he !ea,;; !a;
and in fact Of any previous mon'n, 're ad,nn .U,~
cotx. q q preceding
months total being S17.3O6J64 In December
1893. The bulk Of the bonds put OUT IN ;>o.em ,
Der was taken by home interests AT soou 49, pts
Besides the sales Of such issues. railway uo"u -
% the Stock Exchange made the best record OF
any month In the year. the par sS'u s1c "a
nansactions amounting 10 uPWaiu IN
vwD0OO. The leading D~anklhs ~ .wery good
Issue Of bonds made. and when pankeIs a..
anxious for bonds II can be assumed ina, enes
nave customers for them. ana curreh, arid dis
Of such bond movements Indicates rapIo oas r
trbution OF gilt-edged securities among a..
classes Of investors Railroad compailes So, 800
and municipalities do not hesitate 10 maxi oo'.u
negotiations now, for they nave connuen "a "a
the stability OF business and political aifars am
they are not forced to beg or implore people 70
take their offerings. The phenomenal recoru on
STATE and city bond sales IN Novemner s,ore eIec
t'on.. and the deferring OF all sales until theie
was some chance OF profitable bidding. the re-
cent sale of New-York City bonds pelns an, an sn
ample OF the good results obtained from waitins
until after the election. Bond offerings prior 10
the election were distinct failures, but now they
are oversubscribed many times at handsome
premiums.
Although railway earnings do n0t snow
marked Improvement. there is evidence or com,
ing strength in weekly and monthly returns anu
no intelligent holder of good railway securities
appears disposed TO take pessimistic view OF
me me outlook for future earnings. The railroaas
% M the United States are enjoying sound health.
snd snsd their earnings will gradually increase as
ecencs dsepens ana strengthens. and a. trads