New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-10
Thursday, December 9-p. n.


Investors who are now buying bonds base
their operations on thoughtful consideration
Of the future When bonds are absorbed in
large quantities at high figures 1t follows that
conditions underlying the actual worth of in
vestnent securities are sound; that confidence
is strong in financial circles and capital anxious
10 find profitable employment. The buying OF
bonds at present Is almost wholly for home
account This is very significant. 1t indicates
business expansion and growing confidence
among moneyed interests throughout the United
States. And when home investors are eagerly
buying domestic bonds and foreigners are com
PEELED to come into the local market for their
food supplies. a situation exists that should
have a reaching influence upon stock mar
ket values. The demand for wheat from for
eign countries Is urgent and likely TO remain so
throughout the winter. International trade con-
ditions are in favor OF this country. Money
markets are favorable to stock market opera
tions, and the current advance in prices is based
almost entirely upon natural and legitimate con-
ditions. OF course there is manipulation. too.
but stronger influences also at work, which.
IL not interfered with. must bring about higher
range Of values than now current. The tradi-
tional December boom is under way. and 1t has
a very substantial reason for coming at this
period. Unless capital should be frightened by
Congress-a possibility which seems extremely
remote-the January market ought also TO be O
bull one, especially as the enormous dividend
and interest disbursements on January / VIII
doubtless seek reinvestment here.
III tO~udy pflCSS were AGAIN stIohb
and higher on good commission house and
general buying movement. Renewed activity
in the so-called Vanderbilt shares was strik-
ing feature Of the business. buying In this group
doubtless being stimulated by the approach OF
the dividend period OF the several companies.
Manhattan occupied a leading place In point or
strength among active issues net advance
Of 2% per cent In this stock helped by
we'll defined feeling that the incoming Tammany
administration would be opposed to the under
ground rapid transit scheme. and that the de-
cision Of the Appellate Court might be against
the tunnel system. There is no doubt that Man
haitian stock Is growing popular. and 1t Is not
are counting on a much higher price than 1OSls
its closing to-day. Louisville and Nashville
Brooklyn Rapid Transit Mobile and ONO, MIS-
souri, Pacific and Northern Pacific preferred
were strong features. Louisville ana NashVllie
was the most active stock in the railroad list
heavy dealings ia IT resulting from ,aik vi IN
pending negotiations for the rcfundihS or the
company's consolidated : per cent b0nds. which
mature I'm April. 1898. Sugar Refining was err
ratio with q fractional net gain at the close Inc
stock of the Hawaiian Sugar Company. Wnlch
was put in the unlisted department YESTERDAY
was traded In to the extent OF Loo shares on d
declining price movement. IT'S loss from inc
opening amounting to 90 per cent Horses
mules wagons and steam pouShs fSure proHi-
nently in this company's assets. The company
charter comes from the State Of California. and
under the law Of that State stockholders are
personally liable to a limited extent An ad-
vance in the wheat market following a violent
advance in the Chicago market was an incident
OF the day. London sold about 1000 shares OF
stocks without however, affecting the market.
The majority OF stocks closed strong on q late
rally Following a moderate reaction.
Prices for the last sales OF the principal active
stocks to-day compared witn the maj ngures OF
n