New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-17
BONDS
THE DAYS OPERATIONS IN STOCKS

The greater number of stocks in yesterday
market closed at small! net gains as compared
with Thursdays final figures. The general
course OF values throughout the day was irregu-
lar however. with recessions from the best
prices made in the initial dealings Realizing
sales and extreme weakness in Sugar Rehnihs
checked the pronounced upward tendency that
characterized early quotations, but outside or
Sugar Refining there was no pressure to sell
while fresh support from commission houses was
noticeable on all reactions. decline or .
points in Sugar served to confirm the impress
sion that the stock is not a purchase. except
for turn An increase In the short interest in
the stock has been going on for some time. ana
q rally merely technical conditions VIII
doubtless be in order before the price sinks
much lower but competent opinion does not
favor going long Of the stock for a permanent
upward movement Sugar trade competition Is
such that manipulators of the stock Will have no
trouble In depressing the quotation to par II
they choose, and il is possible that that level
will be reached before materially higher price
n seen. II is an erratic stock however. and we'll
worth leaving alone.
The Pacific stocks were strong features. with
heavy transactions in Northern and Union Pa
ciNc common. Speculation in Northern Pacific
are remarkably promising. owing to the splen-
did business being done ny the company The
MANAGEMENT of both Northern Pacific and
Union Pacific is under the control Of intelligent
men, whose methods Of conducting their prop
critics is such as to inspire confidence in the
securities as permanent investments. and the
results shown by the Atchson company in its
rIort published yesterday furnish another ex-
ample Of competent management in American
railway affairs. The Atchison company had
remarkably prosperous year, but the directors
did not Immediately pay to security holders
all the available surplus. Like the ST. Paul di
rectors they thought OF the future and the
possibility OF less favorable conditions in years
to come. The Atchison directors have taken
advantage Of a prosperous year to put their
property in excellent physical condition. The
Erie report, printed early in the week, also
showed the results of able management. Amer
lean railroad management is better than ever
before in the history Of the country
Recessions In the afternoon followed a halt in
commission house buying, and apparently re-
hected renewed uneasiness over bank conditions.
The money market afforded no reason for
pectng really bad bank statement to-day.
while further announcements of gold imports
and weakness in sterling exchange presented
strong argument for confidence in the situation.
Government deposits with the banks have IN
creased S6.00000O in the week. probably offset
ting in great part the payments by the banks 10
the Sub-Treasury. Shipments TO the interior
have not been heavy. owing to the splendid con-
diton Of interior institutions. and while the
outward movement has amounted to over So
100000. receipts from nearby cities have been
heavy enough to make the net loss less than
s1Oo00oo Considerable money has been
ceived in the week owing to the higher interest
rates here.