New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-08
BONDS.
THE DAYS OPERATIONS IN STOCKS.

On O small volume Of business higher prices
were made IN Yesterdays stock narket The
advance was not accompanied by any apprecia-
bic increase IN outside interest. hut sentiment
among traders somewhat more cheerful
over the prospects for the fall Of Santiago and
the possibility that Spain may before long begin
active negotiations for peace Efforts to pro-
yoke liquidation or Wednesday, unsuc-
cessful that trades were nervous over making
further commitments on the short side of the
market. and IN yesterdays transactions there
vas a general covering movement throughout
the list. which left las. prices in the majority Of
issues well above Wednesdays fnal quotations.
Stocks go up more easily than they go down.
THe bears are constantly forced to realize this.
AID time may come when they will expert
ence serious disaster II they persist in beev
ing that the current wear IS especially adapted
for bear operations in stocks.
American Sugar Refining was a weak feature
a. the opening on the passage Of the Hawaiian
annexation resolution. but 1t recovered It's loss
before the end OF the first hour. For the same
reason Hawaiian Sugar was strong. although the
interest in the stock was limited Among rail-
road stocks trading q trifte more animated
than Of late. and prices were strong in the
greater number OF issues. The Vanderbilt
shares exhibited greater activity than In sew
eral weeks. end. while trading throughout the
list was dull, there were indications Of better
distributed interest IN the various issues. espe
cally among investment stocks Railroad earn
ings received yesterday were uniformly good.
especially those Of the Missouri Pacific. Chesa-
peake and Ohio. s.. Louis Southwestern. St
Louis and San Frar SEQ. ana Pittsburg and
Western systems.
Except in few instances current railroad
earnings do not furnish decreases as compared
with last year. and in the returns now coming
70 hand there is Absolutely no confirmation Of
the pessirlistic estimates recently made by many
followers Of stock market movements. Many
PEOPLE who expected marked falling off in
traffic receipts based their predictions the
fall IN the price OF grain, and. consequence
the holding back of deliveries by the farmers
THIS argument IS all right so far as il goes
but II fails to take into account the influence
Of present agricultural prosperity upon the vest
hound movement Of merchandise traffic. From
the earnings Of recent date It will be seen that
the decline in grain traffic has practically been
offset by the increase in westbound shipments
OF merchandise. Just al present Wall Streets
energies appear TO be deadened. Many people
seem to think that things are growing worse
while they actually growing better, and
from the dulness In the stock market It would
seem IS II Wall Street were out Of touch with
existing progress in industrial expansion.
Railroad earnings now compare with periods Of
heavy increase last year. and they show condi-
lions throughout the country that ought TO
galvanze the stock market into activity. II is
the belief in the best-infOrmed circles that i'm
portant market interests quietly picking up
stocks 20 hold for an advance that they believe
will come when the. public awakens 10 the i'm
portance OF this country's credit and trade. and
It's SOli1 business conditions