New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-25

preston and doubt They wish and sigh and
call for the public to come into the market. and
as soon as the public shows any disposition to
come into Wall Street as represented on the
Stock Exchange the bears frighten II out by
selling the market, distributing bear rumors
and turning everything topsy-turvy. a most
decided instance OF this occurred last week AT
the close Of the preceding week the public was
induced to come into the market by the upward
movement in prices. and II would doubtless have
stayed in had not the professional contingent
begun almost Immediately TO take its profits.
and then to hammer the market in order to
load up again at lower prices. The usual bear
machinery set n motion. and the result
was the disappearance or the public a dull and
stupid market. hut no disposition. however. by
holders of securities 10 part with their pos
sessions The Stock Exchange community
gained very little by it's operations and lost
the good outside demand which developed Mt
the close of the week before last. and until
gives up it's narrowness and seeks to look be
yond the space inclosed by the walls OF the
Exchange the demand from the outside for
stocks Will remain impassive The professional
element wants the public badly. hut when II
gets il slaughter begins and under such con-
ditions 1t is not surprising that outsiders run
at the first indication Of bear manipulation
The greater number Of securities traded IN on
the Stock Exchange have passed through the
trying ordeals OF the last few years with no ma
teria loss in their intrinsic worth. ana eacn uay
the market is becoming freer from worthless Sc
curities. and the weeding-out process In security
markets. well as in general business. IS rapldlY
the return TO securities Of capital. which In re-
cent years has been diverted from corporate en-
terprises to real estate. is encouraging. as re-
nected in the bond market and careful judges
of the situation believe that freer circulation
of money in industrial enterprises VIII be one
Of the encouraging factors of the near future
While professional traders are not yet filled with
confidence and hope. IT is 70 be noticed that bull
movements are becoming more frequent, and
that large interests are getting better prepared
to absorb stocks on all declines. while weak
spots are being gradually eliminated from the
security market and from business in general
When the Oid-time courage and intelligence
begin to prevail again on the Stock Exchange;
when stock movements are based upon the
merits Of securities rather than on speculative
manipulation. and when a fuller appreciation or
industrial conditions prevails. there will be
broader stock market, with larger public sup
port such as prevails IN the bond market
Despite a number of trade failures the CONNER
cial agencies report improvement in the trade
situation. and the record of bank clearings Tor
the last week. showing an increase Of q per cent
over the same time year ago. Is a faithful IN
dicator Of increasing health in domestic business
conditions. The most important development or
the week the announcement or the agree
ment between the Government and the Union
Pacific Reorganization Committee, by which
foreclosure proceedings have begun and which
will lead il is believed. TO the speedy reorganiza-
ton of this great property. The movements Of
the chief active stocks and bonds IN the week
are given in the following tables:
STOCKS