New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-15
BONDS.
THE DAYS OPERATIONS IN STOChS'

..I market showed little trace OF '"e
.,,.ss that sent prices lower on "eu"c9
g. The morning news proved WeuheSu"'
...s regarding the outbreak or yeiio" 'e
=. Santiago grossly exaggerated. Whiie INC AVN
-o,or+ q, Admiral Dewey's prompt act'oi' -
onacS,ng German interference at the rn"p
,,rss treasured timid traders as 10 the Si'""
$,on 90 far as complications with Gerni"n' "'
-.s.,,.a The actual position OF allairs d.
Santiago was materially changed anu -
Thought II best to cover contracts p'' 0.' "
expectation Of grave developments a' III. .'O
and at Subc Fay. And they louiu "uu''
reason for covering in the refusaI Oh ho'Oe's
securities TO be frightened INTO selling
60 r,orLet again reflected the presence OF
good investment and speculative dei''anu "-'
In the stock market certain issues Neie "
absorbed by substantial market interests op''
ing prices were slightly under "eohssoas
closing but for the greater part OF the uaS
values moved slowly hioher. exceptions " INV
inward movement being confined chiehy 10 ''e
anthracite list and American Spirits ISSUES
Conditions in the anthracite coal uaue are ~
worse than they have been for some Time anu
,nonv careful operators do not favor selling
the coaers short. The Reading issues III p"'.
+,cu,ar are not as barren Of merit as certaiA
son and Lackawanna holders need not concern
themselves over the frightful stories or coai
trade decentralization. The coal trade is in need
NJ inoprovement but as an industry 1t has yet
20 show evidence Of being beyond the power or
profitable rehabilitation. The earnings OF the
Reading Company and Of the anthracite com
NAMES in general do not indicate the conditions
that are talked about in Wall Street for the
purpose OF depressing the market value OF the
stocks The anthracite securities are certainly
not the most attractive issues on the list. but
considerable caution should be exercised In
selling them with the idea OF recovering at
materially lower price level. Bear traders made
an energetic attack upon the coal stocks IN the
hope of inducing lower prices throughout the
list, but the effect was not pronounced. and tho
losses made In the Reading issues were recov-
cred in great part before the close.
Official announcement Of the surrender OF
Santiago met prompt response in the last
half hour of business Advances Of 1G2 per
cent made in the more active list, with
last prices at about the best Of the day. Specu-
iation following the news OF the surrender was
broader scale than in the morning and It
is not unlikely that to-day's market Will reflect
. more genuine demand for stocks on the belief
that the fall Of Santiago means the beginning OF
octuai preparations Tor peace. London TOOK III
tie interest In this market. selling more than It
bought. OF the active stocks Sugar Refining
Atchison preferred st. Paul. Manhattan. Read
Ing first preferred and Texas and Pacific fur
nished the heaviest dealings. Reports that Mis-
souri, Pacific had acquired part Of the Cen
trail Branch Of the Union Pacific impaired
strength to the Could issues while Indicating
the adoption Of a policy OF consolidation among
the Gould roads similar to that Of the Wander
bits.