New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-12
BONDS.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN STOCNS.
The current bull movement in securities was
under full swing again yesterday. The reacuoh
at the close on Tuesday was apparently conslo-
cred sufficient for the present. and despite con-
tinued early foreign selling and heavy local
proft-taking. values advanced 1Q2 per cent IN
the majority Of active issues. Commission
house customers We're heavy buyers. ana IN
many instances people who have been patiently
waiting for a reaction bought on the FORCED De-
lief that considerable time would pass before
prices would fall to lower level. Amid all this
enthusiasm conservative brokers advised eau
ton and recommended larger margins on pur-
chases made in the stocks that have enjoyed ad-
vances of from to Is points in the last two
weeks A reaction would improve the markets
health and serve 10 increase the public appetite
for stocks. Material conditions are excellent.
but technical market features are in favor OF
temporary decline.
That the advance IN some high priced shares
has afforded handsome profits 10 many specu-
lators is reflected in the increased attention
shown in the low priced issues. Such stocks as
Chicago Great Western. Wabash preferred.
Cleveland Lorain and Wheeling General Eec-
trio Atchison preferred and Southern Railway
preferred are becoming favortes. owing not
onIv TO their low market values. but to tho
favorable
The earnings Of Chicago Great Western and
Atch!son are especially good as shown IN their
most recent reports The hrst-named company
"a a Granger road and is considering its mileage
,,s showing compares favorably with the larger
Western companies General Electric was strong
on the belief that the company will soon he able
~ nav dividends on account OF the efforts now
making in that direction At the stockholders
meeting yesterday It was decided that the inter-
ests Of the stockholders required that any neces-
sarv adjustment Of the impairment OF the cap
ital Of their company should be promptly made,
with view TO the early resumption or dlv'-
dends 1t Is said that plan involving the
scaling Of the common stock by one-half VIII
soon be adopted.
The return Of the Spanish feet to Cadiz added
zest TO the days speculation. and many traders
who recently sold. bought back yesterday on tho
belief that the Spanish nation would soon sue
for peace. And the advance in Spanish per
cents. a decline In the gold premium at Madrid
and the announcement that a loan would be
made by the Bank Of Paris to the Bank OF Spain
lent color 10 the report that active negotiations
FOR peace were under way This report originated
IN London. and II exerted a powerful influence
upon local and foreign spectators. LONDON
turned a buyer in this market after It's early
sales. and local interests that recently took
their profits were said 10 be heavy purchasers
of various stocks. Prices at the close stood at
about the best OF the day. dealings IN the last
hour furnishing fresh speculative activity. The
advance was accomplished in the face OF re-
dictionary wheat market where the movement OF
prices seemed to reflect that the upward move
ment in wheat had reached its maximum
The belief that Spain is making negotiations
for peace was general at the close OF business,
and while there was nothing TO confirm the re-
port beyond the action Of the local and foreign
markets the actual development Of peace nego-
tiations would BE preceded by just such move
nent Of securities values was witnessed yes
terday The money market was easier. Total
sales Of all stocks were GIL .S2O shares