New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-01

the stock market While money continues IN
plentiful supply at this centre speculation on
the long side of the account viii doubtless ne
upon a daily expanding volume. unless some ac-
cldent should occur To upset the countrys husi-
ness conditions or its international relations
Evidence is accommodating that the public is ac-
ceptine the invitation to buy securities. And II
the public decides to stay in the market normal
reactions only are to he expected. the pear
element maintains that it still has available am
munition in reserve but it shows disposition
10 use IL at present When sentiment Is hrmy
convinced tina; there are no mfavorable factors
IN the situation. when important market inter-
ests actively support prices and wnen the
money market is in condition to permit or
large speculative transactions. it is safe to as
sumo that bear operators will be in a minority
But accidents often help the bears. To-day's
market however was such strong exhibition
Of good buying Of cordial support from impor-
tant market interests and Of well distributed
dealings in both the share and bond depart
ments that there was little reason to expect
immediate bear success. Last weeks marked
upward movement in prices brought in heavy
outside buying orders to-day and bullish senti-
ment was correspondlngy increased.
The Vanderbilt shares were again acilVe
features. Realizing sales caused some lrreSu-
larty in New-York Central. hut the buying was
peake and Ohio and Big Four sharing in the
Vanderbilt deal. attracted heavy buying OF the
securities OF these roads. the rst-named being
IN good demand from foreign houses. Londoh
Lor,qbt It's snerialties Tho fact tba' thore has
been no particular movement in Peoples Gas
and Coke since Ia" elimination or iasl summer ;
boom in stocks is In part responsible ror re-
newed buying Of the cOmpanys shares hut the
favorable reports about it's present earning
power are the most important factors IN the
stocks activity This company is earning more
than its dividend. lis annual report VIII he Is
sued some time in February. and it VIII show.
according To absolutely trustworthy authority
at least I per cent earned in the last year.
PENNSYLVANIA stock * also becoming popular. as
shown in the dealings In il to-day This STOCK
is considered cheap at its present price. ana
from its current course II VIII doubtl"SS sell
well above to-days market level II may be
remembered that the company has an unbroken
dividend record. with the exception or one semi
annual period IN 1871. when the Pttshurg riots
caused a suspension, although this suspension
was made up In the following year by dis
trihution Of scrip. IN the last Few days me IN
vestment buying OF Pennsylvania stock has
been heavy. and the advance In Its price has
been accompanied by a report that the company
would open a transfer once in this city, so as
to permit the regular listing Of the stock on the
local Exchange II Is now in the unlisted de
partment Louisville and Nashville was A
strong feature on talk ~ refunding prospects
while the Northern Pacincs retained their
strength on dividend expectations Baltimore
and Ohio. the anthracite HIST and American To-
baccO were also strong features. Frequent re-
cessiOns took place on realizing sales, hut the
entire list. with few exceptions only. closed
higher Dealings in the bond department were
on an extraordinary scale. and investment buy
ing Of shares and bonds was heavier than on
any dav this wear The bond sales for January
amount I'm par value to over S90OODWD. the
largest total for any month In the history or
the Stock Exchange At the close to-day sent-
rnent was overwhelmingly hullish Sales In all
stocks were 56S $50 shares.
Last prices FOR the principal active stocks
compare with Sundays hnal quotations as fol-