New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market was strong and active In the
morning. with e moderate reactionary tendency
in the afternoon that left last prices at little
change from Thursdays closing Many opera
tors realized profits on the early advance. while
a growing disposition TO settle up accounts. ow-
ing to the three-day suspension of business. led
70 a light selling movement In the fnal dealings
Bear traders who thought the market would
register a sharp decline were grievoucly disap-
pointed over the paltry reaction that did occur.
but they bols.ered their sagging spirits with the
comforting assurance that something might de-
velop before Tuesday 10 frghten the investment
public into selling II will needs be n mighty
scare 10 cause general liquidation in this mar
ket Temporary higher rates for money will not
brighten genuine holders. and the announcement
that the Government has called from the depos-
tory banks SsOOO0OO Union Pacific purchase
money will disturb nobody. for II is pretty well
known that the Government will dsburse more
than that amount on January for interest and
payments on the maturing Government IS.
Federal Steel securities again attracted the
greater speculative attention. while showing
wide fluctuations the common selling "a high as
49ss and az low i64, and the pre-
ferred as high S4As and as low as
500 Dealings in the common reached the
heavy total Of 10000 shares. nearly every
commission house in the Street apparently hav
ing orders either to buy sell for enthusiastic
customers No evidence Of inside selling could
be detected In the Steel issues. and 1t COM
mon report in the Street that the interests sup
porting the speculation were bullish ever
upon these particular stocks In the light Of the
companys current earnings and the enormous
business doing in iron and steel. present quota
lions for securities do appear high In
dustrials Of less merit are selling higher. Chi
cago Great Western strong feature
good inquiry from commission houses. and In all
stocks. with the exception perhaps of Bay State
Gas commission house buying. especially on the
reaction. Of a most excellent character
Low-pr!ced stocks like Tennessee Coal and Iron.
Texas and Pacific Wabash preferred Denver
and Rio Grande common Des Moines and Fort
Dodge. Kansas and Texas common Colorado
Fuel and Iron and ST. Louis Southwestern were
actively bought by commission houses Last
prices showed moro net gains than losses.
In the bond market the demand urgent
and high-reoord prices made in many is
sues Bonds that have not until recently been
active in evidence. as Duluth and Iron
Range first 5s ard Central Branch Union Pacific
lists Duluth and Iron Range Is made a conspic-
uous advance on buying. doubtless induced by
their comparatively low price as a per cent in
vestment The Duluth and Iron Range Rail
road. Il may he recalled. is controlled by the
Minnesota Iron Company. which in turn is one
OF the chief properties included in the Federal
Steel combination. The demand for railway
mortgage issues promises to reach even larger
proportions. and. for stocks. everybody In the
Street predicts unusual movement in the
new year. II is a merry Christmas indeed for
Wall Street