New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-12
BONDS.
THE DAYS OPERATIONS IN STOCKS


A number Of possibilities in the general situa-
lion are worrying Wall Street into conoitioh
anproaching suspended animation. II would be
a wholesome relief If current doubt and fear
would end In a goods break in prices. en-
hrscinp purely speculative liquidation. Holders
Of investment shares will not be frightened INTO
selling by present duness and hazy shadows OF
misfortune predicted by the bears but the con-
stant saggtng tendency Of values, the absence or
good support and the growing pessimism' may
vet induce a wholesale speculative hquidaton'
despite the fact that actual conditions warrant
higher prices And then the unfortunate posi-
ton of the sugar refining business may ieao 'o
further heavy selling Of sugar certihca'es oS
holders who have long been interested IN the
stock owing 10 the big dividends PAID III 10
we'll known that the actual financial posluoh OIL
the Sugar Trust is a closely guarded secret
and that the investment stockholders know htlle
about the value Of their holdings. The assump
zion is therefore not ilogically made that many
holders Of Sugar will get out Of their stock be-
cause gossip intimates that the trust Will not De
able to maintain dividends while fighting Its
rivals The pernicious influence upon general
speculation OF such stocks as Sugar and To-
bacco 1t Is thought in some quarters mas not
vet lost its power TO harm the market.
In Yesterdays market speculative attention
x,s again taken III with the future. Curious
a. n NAV SEEM sentiment was depressed over
the outlook the much discussed possibilities In
The elections foreign politics, peace negotiations
with Spain and industrial stock speculation fur-
rishing gloomy picture TO the dismal NINA OF
one-sided professional element Hail came
would find depression enough in Wall Street Tor
several novels. Dealings in the investment
shares however. not without encourage
ment for despite vigorous persuasion by pear
traders genuine holders are not inclined 10 sell
They know that market value does not no"
represent actual worth. And they note that
dividends are being earned and paid ana tnat
traffic receipts are increasing; that money Is
growing easier foreign trade running steaoiy
in favor of this country, wheat advancing In re-
sponse TO foreign requirements and vigorous
efforts making to defeat silver politicians in No
vember The financial markets of this country
are TOO strongly intrenched TO be injured oy
troubles in France by speculative collapse IN
Berlin or by the postponement OF the final
peace settlement between the United States and
Spain. Spectators apparently wish TO thlnk
otherwise. and especially so at time "hen
several big manipulators are aTayed on the
short side Of the market. 1t is comforting 10 re-
member that the speculative theory that prices
cannot move in one direction at all times still
remains in force
Operations IN Yesterdays market continued
10 reflect dwindling interest In the general llst
and increasing efforts 10 place sugar Rennihg
stock below par and Northern Paclnc common
we'll under current figures. The fact that tnere
was little stock offering in the standard railway
shares prevented marked bear success In these
issues. but in Sugar Tobacco and the coalers
little difficulty was experienced in establishing
lower range Of values. The reason why IN,
vestors do not care TO sell their stocks is 1ouho
in railroad earnings. like those Of the ST. Paul
company for instance, which showed a gain
OF over $4,000 for the first week in OCTOBER as
splendid showing made by St. Paul was sup
plemented by a number Of most favorable ex-
hibits from other companies. which, however.
failed TO impress the speculative mind. The IN
dustrial stocks huctuated widely. and bear
raid on the anthracite list depressed prices ioi
Reading Jersey Central and Delaware and Hud-
son about per cent Although final prices gave
many net losses a few stocks closed al small
net gains OF the total dealings, Sugar. To-
bacco St Paul and Northern Pacific common
furnished the bulk.