New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-17
BONDS.
THE DAYS OPERATIONS IN STOCKS

4 su,erocia1 examination Of prices in yes'er
tsv,e stock rnnrke, would lead 20 the conclusion
,bo. all uncertainty over the Cuban stua''on
had been removed Advances were genera"
through out the list. and IN the more ac''>e SP
NATIVE issues heavy gains were mace '"''''''''
sion-house buyers were N evidence ""P'' ''"
sneculatlyc buyers were activ" ana oro"rs W.
sxecured bv firms 81 substantial s'ahu'hs' no
-ar "a could b, learned, however the puE'ns wa"
m. % the character essential 70 CONTINUOUS
advancing prices. bu; was more OF the hlru III"
4. always found IN n manipulated marKe' 'HO
ing new developments in the CUBAN Wv.
large operators arc Working on INC I""S s'''
,ho r,.rpe, or 10 make II more clear, they are
boosting stocks higher in order that they ma!
sell a; handsome advances over 'he P''''' az
which their holdings were acquired
Attracted as usual by an advancing mar"e''
avail raiders to a limited number. have re-
,rrreo N he market and are apparently rcaoF
,o tax. the offerings Of the large operators Jus'
..soon ms the latter are ready to liquidate. Inc
ourrert market ,s pure gamble. Ana IL VIII
remain s., until the Cuban matter '"aCH'S {"
final settlement. II is 50 much OF VIII 'P~"
latton that many commission houses pave '''a
,eriallv raised the minimum linl' OF ma" 7''.'
required The professional specuators WHO We"
understand their business are MAKING tCn
profts in current advances ana "ninPS' i"e
outsider unless he Is n man OF remarkable Keen
ness and large bank account IL the one u "e
n,t,4d The advance in Yesterdays stock mar
ket did not reflect any real encouraging chanee
IN tho Cuban situation or legitimate Investment
nor, 7, nresented a scene Of manipula tion
..n.cisIrv in American Tobacco stock which
made a maximum gain Of = per cent. or over !"
ner cent above Saturdays lowest price Man
haitian was this kind Of a feature showing az
its highest point gain OF nearly III per cent
over It's lowest price on Saturdays stump net
ronolitan Traction also was looked after by
manipulators
The inward movement continued unchecked
throughout the day. Conservative bankers were
not favnrably impressed by the character OF
trading and they saw in the TRANSACTIONS 'he
same sliilful operations Of the professional class
responsible FOR the heavy break on Saturday.
The weakness on Tuesday afternoon was accom-
named by an Increase in the short interest, and
,h,s -.c. in connection with a strong opening
IN London Yesterday made conditions favorahie
n renewed operations for n rise The covering
If shorts and buying for professional account
Furnished the only element of support. the last
ramed account including heavy speculative pur-
chases for large arbtrage houses There was no
pressure to unload stocks at any time. and the
fact that Washington houses were buyers en-
couraged commission house traders to take
stocks on the belief that Washington buyins
was based upon confidential Information regard
ing Cuban affairs
Advancing prices change sentiment In wall
Street There is no reason 20 euppoSe, however.
that the change Of sentiment reflects any less
uncertainty In political affairs. In the absence
OF new unsettling developments. and especially
after n severe setback in values. n period OF
optimism the up side Of the market Is
natural and he expected. but until every
vestige Of uncertainty is removed nobody should
expec, sustained upward movement. Substan-
tial advances were made in the great majority
of stocks yesterday. the gains being the most
pronounced in the issues that have recently oC-
cupied the large specuaj tors attention.
London buying and activity in he American
department on the London Exchange were said
20 he due 10 the expectation that the rate war in
the West would 10 settled az yesterdays meet
ing ~ traffic agents This was also used ar
argument on the local exchange. The rate diff
oulties were not settled at tho meeting. More
gold was engaged for import. The statement oil
February foreign commerce. printed elsewhere
OF this PAGE. is especially Interesting in view OF
the presen; heavy gold imports