New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-25
THE WEEKS OPERATIONS N STOCKS

THE WEEKS OPERATIONS N STOCKS.
Tss course q. general business is gradually
sdvsrcing AID The prospects for The immediate
future furnish - wa-ran; for pessirlisrn - *
cr.se 10Y selling stocks. Wal Street Is Ira~-i-
cany ntel.ss as "a as speculation II stocks Is
concerned but despite he culness- operators
for lower prices a-e unable 70 make noteworthy
--u--ess = their campaign agstnst values. ard
wholly u-sucrsssful n thsir efforts - disloors
.,res.-,.n- holdings y well-secu-e6 long stock.
Holders End 10 legitimate reason for selling.
Tasr have unlimited confidence Il ne future q
business AID -hsy a-e sh-ewd enough 70 s=e II
current Indications 81 approaching period -
great prosperity. Wa has not disturbed hosi-
ness and seasonsbls reaction = the grain
movement and as Z consequence falling o. -
traHc receipts have DOT supplied Z logical arg
-re-- to- diEpost,g - attractive stocks re;
mus inevitably sell higher before they 70 mt
.e-iarlr lowe barring % COURSE. exceptional
accidents.
The actual volume q business. az MEASURE
By Clearing House returns u larger tnao = was
4, this time yea- ago and u per cent greater
TIA, ~ The same period IN 1922 Although TIE
.ore3r. needs are not urgent - export
movement q wheat and co-n Is Sill heavy.
with er---lH--E -OT me week @ 4t'fs-N" 49,
els OF wheat sEa,nst 1861 bushels last
wear. ard 5017 81 bushels q co-I = tbs last
three weeks. against ets35.395 bushels last year.
II railroad earnings the falling or. &c compared
with year ago. has no; been 50 heavy as 5ea-
GENERATORS would have ihe public believe. ne
losses being confined in great part 70 The Gran
ger and Pacific roads which are affected ~ the
reduction IN grain traN3o ari by Taie-cutting
that IS now al SIS worst stage The last-ns-ned
factor presents the only important urfavorable
failure IN the railroad situation. but there &
reason 70 believe hat 4 VII soon show Signs 4
Improvement and that stockholders returns VII
not be endangered when al oiher conditions are
favorable 70 Increased divi6en6s- Owners -
American railroad securities have reason for 20
tai-sug her possessions The attempt - lower
market values Is a. excellent Indication % he
desire o. many operators % become owners q
stocks 81 order 70 take part Il me expected Up
ward movement. AID through al declines an5
possible sezhsc}s pending higher prices holders
Il GOOD securities should Mt be frightened t-to
selling.
While the operations = stocks have been upon
q very limited scsle. buying r railroad mort
gage issues has been exceedingly heary. i Is
n the bond department nat capital IS exhibit
i,g SIS iufueucs and i Is here that - cUlators
&c well g investors have bee, accommodating a.
--zctive issues Il The firm belief q materially
higher values The tine VII come vhen The
movement % money 80 bonds VIII run into
rtocks and when that time does come buyers
VII have 70 pay higher prices than those now
current Stocks. as rule. are vel he'd Bea-
operations e. present a-e followed ~ the
Incubation % small accounts only AID z slight
decline n prices uutl technical conditions cause
a. upward movement. the market moving on
q snail volume - business and within *
t-errelr narrow rr5ce limits. Londor's orders i
this market are Insignificant. but foreign se-ti-
rnenf appears optimistic over the future O.
values Peace reports have mora effect 4 Lon
coo than here. AID the sharp advance IL span
ssh pr cents n The week was not without e.
feet upon foreign Spectators
Government bonds we're stronger last week
and the nesr Government s. were ceali II a.
rapidly advancing prices The credit q TIE
United States Is high. The condition q The
United States Treasury Is sound. and genera
monetary conditions throughout The country are
excellent More money s Il circulation Than
ever before II The history @ the United States
interior institutions are not forced 70 cali upon
the New-york banks for funds because iheir
own vaults are wei flied. while the loca- banks
are suffering tro-a plethora which even The
Government loan has rot relieved Noner Will
eoo- q active u securities II Will steadily *
err its influence upon the Industries q the coun-
try and The renewal q trade relations with
Santiago toreshadows the beginning q future
increased trade expansion n which Nsw-HorK
capital VIII play Z prominent part Applications
have already teen made By snterp-isjng Amer
cans 10 open banks IN Cuba Porro Rico and
Hawa. There are indications q coming coz
rnercisi growth. and they furnish food for care
fui thought among our energetic and ambitious
business men The foreign exchange market
fs moving toward e Level that viii probably cul-
INMATE Il gold imports before the fan Herein
lies another factor % the ccuntry's financial and
commercial strength Yet bear operators and
some others who 60 recognize prosperity
when they see H. say that marker values. which
or the average are below those ruling last Sep
ts-bs- have discounted everything good that