New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-13
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Dealings in stocks yesterday were on a some
what reduced scale, and the course Of prices
was more or less irregular. but at the same time
there was nothing to indicate that the advance
IN securities had reached Its limit The halt in
the upward movement WAS due apparently 10
the taking OF profits by professional SPECTATORS
and to a desire to await the signing OF the
protocol by the French Ambassador as the rep
resentatve of Spain. There was no bear talk
and there would have been an abundance or IL
had the Wall Street community had any idea
that stocks were on the eve OF DOWNWARD
turn. In some quarters II was said that reac-
ton in the market was due. but the general idea
was that little II any more than A brief pause
in the rise was being experienced.
The belief in financial circles is that existing
conditions warrant considerably higher range
Of prices, and that these conditions must prevail
against manipulation and other artificial factors
There is not an unfavorable element in the stu
alton. The main dependence for the time being
,s on the crops. Taking the Government report.
which is on all hands pronounced conservative.
the wheat crop is perhaps the largest in the his
tory OF the country. and the corn crop Is almost
a. normal one. The grain-carrying roads which
collect their own crop information. and the crop
experts. insist that the Government report un-
corn. AS has been previously stated, there is
much old corn in the country. and IT makes lit
tie difference II the yield this year is not
hummer CROP Corn Is now going TO Europe In
large amounts and there IL a prospect that the
exports Of this cereal the coming year may be
the heaviest on record. The exports OF wheat
are also large. and there is a promise that there
will be a demand abroad for all tho new wheat
the country has to spare. Tho farmers may
hold back their wheat for time 10 secure
better price. but the higher the price the more
rapidly wheat will move. 1t Is expected that
cotton will be marketed with promptness.
There was more realizing perhaps in the
Granger shares than in other stocks. but the
offerings Of these shares were readily absorbed
and there were no important concessions In
price. The probability Of an Increase In the
dividends Of some Of the Changers makes Il
fairly certain that these stocks will continue TO
be active and gain in value. The excellent
showing Of earnings by the Northern Pacific.
Union Pacific and Atchison roads has impaired
great strength to these stocks. and largely ex-
banded the dealings in them. with a resulting
improvement in price.
The Industrials came In for their full share
of attention: In fact. two or three OF them were
made leaders In the market Rubber common
was bought freely and advanced. The pur-
chases OF the stock were based on a report that
the principal competitor Of the company was
to be absorbed The preferred stock picked up
along with the common. The shares Of the
Rubber company have been under manipula-
ton for some time. Lea her preferred was sold
in moderate amounts Sugar moved back and
forth within narrow limits. but there seemed to
be better buying than selling Of 1t. There was
a good inquiry for American Tobacco.