New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-23
BONDS.
THE DAYS OPERATIONS IN STOCKS

Advancing values and heavy transactions
marked the course Of securities operations yes
terday II was commission nouse MAJ Nc
Euy,rg orders from the public outnumpereo sell
inc orders holders o! stocks apparently "e
lieyinc that the level at which prohts shouio
be taken had not yet been reached. Iraders
worked for a reaction and talked reaction
throughout the day. but prices steadily 40
yanced. and closed at substantial net gains
ms COMPARED with Fridays final figures Inc
general situation warrants higher prices tnan
those yet reached. and IT IS not likely that the
great mass Of operators Will suddenly chaOee
their opinion the salient factors underlying
the market and al. rush to sell their securities
at the same time. Az long as the publ'c re-
mains confident the bull movement Will con-
tinue There IS a5 yet no indication tha' 'he
public is uneasy over the current level OF
prices nor is there any evidence OF fear on the
part OF substantial interests THAI the market
technical props are weakening
This bull market has been accompanied with
frequent heaithful reactions AS far as can
be learned speculation is not being conducted
upon slender margins. while the majority OF
buyers making I'D the public element are not
men OF limited rreans Wealthy men are in the
market Strong institutions are heavy buyers.
Financial concerns and individual substantial
market Interests appear 10 be adding 10 their
holdings, rather thar taking profits on securi-
ties acquired at cheaper prices good part OF
the selling comes from the professional eIe-
mept and holders who are willing to realize at
the present level but from all signs and nd-
cations stocks are not passing from strong TO
weak hands In large enough supply 10 knock
the bottom out Of speculation Formerly II
was considered wise 10 be out OF stocks In the
late summer and autumn months. owing TO the
heavy demand Cor money incident to crop move
ments but the interior IS so much richer this
year and foreign credits are so large that the
fear of money stringency Is not even suggested
in financial circles. There may. perhaps. be
sudden and temporary jumps in money rates,
but II so they need not concern the holder OF
stocks who has ample margins and believes in
the future Of values
Total transactions yesterday were not as
heavy as on the record day last week. but they
were above the recent average and well dis
tributed over a large number Of issues. Lon
don prices strong and foreigners bought
heavily in the American department. well
in the local market. ST. Paul one Of the best
properties in the West. Louisville and Nashville
which will doubtless be put upon the dividend
list this fall; American Cotton on. which is also
scheduled for a dividend. and Minnesota Iron
which is popular on consolidation prospects
were market leaders IN point Of strength. and
were among the most active issues dealt in
Atchison preferred and Southern Railway pre-
ferred werc also strong features. Room traders
who sold early in the day turned buyers before
the close. Sterling exchange exhibited de-
Ginning tendency. and predictions were made
that engagements Of gold for import would be
made before the end Of the week.