New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-18
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The market for stocks presented little ANNA
ton yesterday. prices moving within narrow
limits and dealings exhibiting professional at
tention only. The possibility OF a Supreme Court
decision in the Joint Traffic case helped to re
strict early transactions. but the main cause of
the extreme dulness was found in the absolute
inactivity of commission houses. Brokers are
not particularly enthusiastic in their market let
tiers over the immediate prospects for higher
prices. but they do not worry their customers
with doleful predictions over the future. The
professional bears the prophets Of disaster
ct present. But their advice TO sell is not seri-
>usly considered by actual holders of stocks, who
know something about the country's reviving
prosperity and the very bright prospects for
higher prices later on in the season 1t Is not
unlikely that good break in prices would mark
The beginning Of an upward movement by Civ
ing the bears attractive opportunities to cover.
while furnishing many substantial outside buy
ers chance to pick up better bargains than
hose offering. Perhaps ante-election pes
bmism will end in n slump Courageous holders
would not be injured and the market would be
Technically improved. Actual technical condi-
Sons DO not foreshadow such slump. but pro-
.essional manipulation may be able to accom-
plish IT, II is in view of a possible break that
mail traders advised not 10 expect higher
prices before the market goes lower. Specula-
tve advice. however. seldom II ever accrues 10
he profit Of the small public trader.
London prices were higher yesterday the In
iu.nce Of which was not lost upon early quo
ntions here a short period Of strength fol-
owing the opening was succeeded by Irregular
ty and in many stocks weakness although the
general price movement left final quotations
With more net gains than losses Exceptional
declines made by the anthracite coal stocks
IN vigorous bear attacks. II was reported that
Indications Of good selling of the anthr Acite
rocks had been detected by watchful bears. but
otherwise there was no known development re-
tponsibe for the decline. unless 1t was the pub
lcation for the third time of story about a new
,oal road to compete with the present anthracite
ines. American Tobacco stock fuctuated
widely. closing AZ a net gain of 3 per cent. and
Sugar Refining also closed higher Activity in
Manhattan accompanied renewed reports about
be company's prospects for changing its motive
power and with Northern Pacific and Reading
Implied the bulk % the business In the railroad
stocks Securities Of the Federal Steel Com
,any were dealt In (vhen issued) in the unlisted
department for the first time.
The grain market was active and strong under
ne influence OF q heavy export buying. Money
ates were unchanged. and outside OF light in
restment demand for long sterling there was
nttle doing In the foreign exchange market.
Railroad earnings received yesterday gave
hrther evidence Of strong business situation.
Especially In the West. where an increasing
yrain and general merchandise movement was
reflected IN ST. PauIs earnings for the second
reek in October. showing a gain Of Sl39.62I
ker the same week year ago.