New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-08
BONDS.
THE DAYS OPERATIONS IN STOCKS

The stock market was strong on compare
lively light volume OF business, while IN the
bond department advancing prices were accom-
panied by a large total of transactions III
stocks there was no especial demand from pub
liz onerators and the professional element con-
cerned itsels chiefly with the speculative indus
,ria,s and some Of the cheaper railroad stocks
including Norfolk and Western preferred. IN whlch
dealings were heavier than in any other stock
on the list The failure Of the London market
TO decline as a result Of the vigorous attack
upon France by the British Ambassador IN
speech at the British Chamber of Commerce
meeting in Paris encouraged local holders to
keen their stocks, while inducing renewed COW
ering Of shorts by the element that favors lower
prices London was a buye- on balance In
some quarters 1t was said that the higher prices
on the London Exchange were due TO New
York buying and that this buying was exc
cuted in order to influence the local market thus
providing advancing prices for Interests DESTROYS
OF marketing their holdings. st. Louis South
western issues were bought on the company
good earnings which FOR five months show the
entire years interest charges nearly earned
Similar reasons account for activity in Brook
lvn Rapid Transit Chesapeake and Ohio. CleVe-
land Cincinnati Chicago and st. Louis and IA
cihc Mail.
The current strong investment demand for
bonds is based upon the splendid showing OF
earnings made by the various railroads through
out the United States. And in the issues which
are selling under par 'his demand promises 70
become stronger. owing to the advantages 10 De
gained Qn the way Of net returns on the IN
vestmenD from bonds on and per cent
basis This Is why Southern Railway 3s. when
selling al 90. were so eagerly in demand; also
the Northern Pacific. Union Pacific and Atchi-
son issues which are now selling we'll above the
prices Of tie corresponding time a year ago
Central OF Georgia cOnsol IS now quoted at ",
are being taken by careful operators, and Nor
folk and Western conso Is at $50 are In good
demand. The prospects for Improvement In the
coal trade reflected IN higher prices for the
anthracite shares and bonds. Inquiry for ON
tario and Western refunding As. Reading gen
eral 4s and NewYork. Susquehanna and West
ern general mortgage rs is growing heavier. Re
garding the value Of the Susquehanna and
Western general rs 1t is interesting to note that
the company's earnings for October. just re-
ceived. show an increase in gross of SD 80 and
a gain in net Of S21 $50 while from July the
increase In net amounts TO $4,000. The
company's new terminal on the Hudson River
opposite Eightysxth-st.. and its prosperity
under Erie management have been important
factors in increasing the actual and market
value Of the roads securities In yesterdays
market there were heavy purchases Of Susque-
hanna and Western general Us. the price ad-
vancing to 90. while in many Of the issues sell
Ing under par the dealings active at ad-
vancing prices. a per cent bond selling under
par is attractive and in these DAYS OF cheap
money a 1 per cent issue under par IS a most
promising investment From present indica-
lions there will soon be very few good bonds to
be had figures below par.