New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-26

HEAVY BUYING OF sEcrRITIEs-coNpi-
TON OF THE FEDERAL TREASURY.
Sunday, July 23-p. m.

Sunday July 2j-p. m.
The demand for investment securities Is large
and the inquiry for ow-priced stocks ana nohus
is one of the leading features Of the current
security market. Expectation Is genera '"~'
railroad and industrial corporations wh,o" az
not now making payments to the hoius's %
their securities will at no distant time 'e,"'"
To the dividend and interest paying class OF IL
vestments hopes for this satisfactory deVsioP-
ment being based upon the gathering sshs %
industrial activity. Money has been ioeheu up
for q long period because attractive opport"hi-
ties for its profitable employment nave peeh
few and because business in general mas sur
fered from depression uncertainty and actuai
bankruptcy The railway and other corpora
tons which have arisen from the bankruptcies
Of the past have been developed upon lines vi
conservatism honesty and cautious manage
ment and their money-makine power tor iaii
return on the capital invested is such as to APP
peal strongly to investors az time Wheh a'i
indications point toward speedy resumption
CT business prugress The foundation OF invest
ment institutions is sound. The future OF suCl
concerns is bright. and adequate reflection OIL rms
;r,orosts orc ru,tirg ont ,heir funds The
brilliant prospects for heavy railway trafnc haVS
induced heavy buying of railroad securities, and
the actual improvement in business af&lrs anu
the expectations Of a vast Improvement IN the
fall trade reflected in the enormous apPte,
citation of the market values OF securities uausu
in on the New-York Stock Exchange and ,iie
exchanges in other cities Inc improvements III
values has been accomplished WITHOUT the o.
sistance Of foreign buying, and TINS feature
Of the situation is noteworthy, because n.y.
was time when foreign interest In our security
market thought absolutely necessary ioI
prosperous bull market This market mas
proved its independence OF London ana whe =.
London wants TO buy American securities IL
will have 10 pay richly for it's delay. IL VIII
have to pay advance Of from I'D TO ~ points;
and even more for securities which IL could
have bought below bargain prices TWO ihohti'S
ago.
English investors Jared badly on account OF
the bankruptcies OF 80 many American rdiroaus
and by reason Of the hard times here. nut they
did not suffer so much our own investors, anu
they show poor judgment now IN not aSaIh
trusting their money in American enterprises.
Not that there is an absolute need OF Io,e, .
co pital to make the United states prosperous
for the country has reached a stage In us de-
velopment where foreign capital Is not ne
cessty: but at the same time II can be prohtapiy
used and Is desirable. At the close or the week
there vas the first appearance Of foreign inter-
est in the market since the recent upward move
nent began. and hope was general that lhe
Europeans had at last decided to come INTO , tne
American market II the foreigners can realize
the actual position Of affairs in this country
they will become aggressive factors in the Sc
curty trading, and, although late 10 take ad-
vantage Of this market, they will have the salts
faction in knowing that despite the big advance
made so far this summer top prices nave not
vet been reached. While foreigners have been
slow to see the merits of the present situation
home investors have been increasing their INES
and local spectators who have seen enormous
profits in buying stocks at current values nave
been heavy operators. Large financial interests
are in the market. and they are paying consid'
cradle attention 20 low-priced shares as re-
Elected in the activity and advancing prices oil
such stocks as Brooklyn Rapid Transit chicago
and Great Western and Missouri. Kansas ana
Texas common and preferred. The chance for a
quick profit in the low-priced issues Is most
favorable and enormous amounts or money nave
been made in them In the last week. The study
of values and their comparisons forms an IN
teresting subject for students Of the market az
/ this time The following table. showing the
highest prices in 1892 the highest in 1896, the
lowest this year and the closing yesterday 20
gether with the net gains this year from tne
lowest Of the year to date OF number OF active
stocks may prove OF value: