New-York tribune., 1896-11-23
Total 81 cos. .s6i3l.s7l s6o57.5o5 Dec s374.3sG
THE WEEK IN WALL STREET

Stock market movements last week reflected
tne enorts OF the professional element and peo-
fIe VINO profted on stocks carried over the cleo
tUrce o" W Iorce lower range OF values. Reasons
~. ' Seiihg stocks short, for hammering the mar
@ @het on every possible pretence by professional
uaueis s ana the desire on the part Of others who
"I'i 10 accumulate stocks obvious. The
market mas such an interesting and profitable
po'p-ce pelore 1t, based upon current evidence
oi Ieturhlng confidence in business and financial
.n,ies' ihat the majority Of people who are in
ess.o a III STOCK speculation are eager TO take
duNahtase or present opportunities; but they
also wish to make their profits exceedingly sub
sstantiai ana to that end they are working for
,,o"ci prices IN order 10 recover stocks at the
pest possible hgures. Substantial interests are
-Sou"iuIdtIhS stocks. Spectators who carried
.heH STOCKS over election and sold on the cleo
rn rlon ADVANCE are putting forth every effort to
s s.1Nei thein at lower prices. and many OF the
t'oi,ssIohai element who make IL their practice
70 sell stocks short profit In such operations
odseo upon The evident desire Of others to realize
on tneir election purchases and the absence Of
snS asgresSlVeness on the part of outside buy
ers or subs antial interests. Operators who gen
sraily support the long account are apparently
-. ia'or OF lower prices at present, and. in view
oI w the outlook for a continued Improvement in
me country's business. operations for lower
ppIices are neither surprising nor unnatural.
Ieopie who buy stocks for speculative reasons
. sno people who buy for investment like to get
snem al the lowest possible figure when they
snow that low prices do not signify an unfavor
soe financial condition of the companies these
NJ represent ana tnat the tendency or Sc
Wity prices must eventually result in higher
suues When period Of business and political
uncertainty has been successfully passed: when
~ signs and indications point toward an on
sSrd and upward course In business affairs. and
shen the political and financial horizon Is not
.Srkened with the clouds of doubt and danger.
we security markets become attractive fields
tor the employment Of idle capital and for the
s.nouigence OF the SPECTATORS fancy and bank
sscount After the first period OF success when
,nss Ssiees rise in response to political, victory,
~nicn carries with IL prosperity for business un-
SSslakings. pause occurs. and then efforts fol-
w it 70 make large profits by putting prices a
;s'ei at which a larger percentage OF gain may
"e made on purchases at that level
40 bring on decided recession in prices II Is
scessary that some pronounced factor he in
to9ueed In speculation and that decentralization
- brought about In order to frighten holders
VI securities into selling. The present situation
- not productive OF unfavorable factors and for
lie reason prices have not materially receded
sno the operators who sell the market short
.eve been forced TO use extreme caution in all
sneir transactions. A few weak holders have
zen forced out. but from investment sources
snsre has been no liquidation. this interest as
we nuylng on all recessions and exhibiting no
sneasiness over Cuban developments or stories
~ forth by the bear element Important In
~ ~ noted before are out Of the market.