New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-09
BONDS.
u,,r nays OPERATIONS IN STOCKS

..,or market presented renewed Ire anu
-. ,,,aer the influence Of heavy derhaHu
oo,,,nission houses and professional 'au
There was some evidence OF supslah''"'
-, from market interests that nave re-
haer inactive. their appearance IN 'ne
,s,,drcing the belief among over-enthusias'ic
,a that the hope Of causing an imports =
-, mad been abandoned. Inc slaHu"i u
&c made progress toward a higher ieNel oi'
,oraosed volume Of business. ana the TACT
-. .,ose issues were apparently taken by the
- ,rnrortant dealers materially assisted IN
ting new bull enthusiasm among 'he
s,sller traders, who always are READY 10 iol'o"
-, lead Of so-called big men, SomeuHes
,,-a,er the small traders are misled' ana III
.as,s-da,'s transactions there was reason 10 De-
i,sys that the big men had made the market
g. o-sar 70 unload their holdings. But the aplil-
., - the big men 10 cause a heaVy uecA'le
g somewhat doubtful, because their oHei'hsS
ors we'll taken. and because conditions are so
extraordinary this year that investors ra'nei
than speculators are the heaviest owners OF
stocks Sugar Refining rose per cent ho4uihs
-. ,-~.,,e- mart Of the gain until the close
1aroollvn Rapid Transit advanced "a per cent
on heavy Transactions based upon DIVIDEND eX-
nectations Metropolitan Street Railway NOT
folk and Western, Missouri Pacific Burlington
Mobile and Ohio. Chicago Great Western pre-
ferrea 4 and Colorado Southern first preferred
were prominent strong features In the iast
hour prices reacted from the best hgures OF the
day. and the Pacific stocks exhibited oecloeo
weakness Elsewhere, however, net gains were
generally shown.
The movement under way among savings
hanks - reduce the rate OF interest pald oe-
uostors is likely TO accrue TO the beneht OF the
securities markets. as reduction from 10 o1s
Der cent on savings will doubtless influence
many depositors 70 investigate other medlums
Of Investment where a better return can De
obtained than or 312 per cent And the same
tendency In banking circles TO reduce 'He III
torres, Maid on country deposits may also be re-
fecied In a heavier movement OF money ln'o
securities II is not necessary TO discuss the
relative merits Of savings banks and legitimate
railway mortgage issues as investments, for
each presents safety and security, and each
class has its own attractions for small investors;
I'm, tho Cleanliness of money and the readjust
rnept Of interest to a lower basis naturally
leads to a lowering Of savings banks rates, and
g. consequence. suggests the ACCESSIBILITY OF
luving railway bonds which net per cent
and in some cases . per cent, or other securities
Investments At the present time there is
probably no safer investment than irst-class
american railway bonds. That investors ap-
rreciate the value Of railway mortgage issues
is seen in the record breaking demand in brok-
ers' offices and on The Stock Exchange for issues
selling under par and those that have recently
advanced TO above par as Southern Railway Us,
Northern Pacific prior Is. Union Pacific is and
South Carolina and Georgia rs. The current
bond market has never before been equalled
either in point Of activity or in the number Of
issues traded in and al the present rate Of
up and = per cent bonds at quotations under
par VIII not long be offered II this class may
De- mentioned Erie prior A. Atchson adjust
Tent Is Central of Georgia consol 5s, New
York Susquehanna and Western general IS
Louisville and Nashville unified is. Norfolk and
Western consol is, St Louis and San Fran
cisco Is ST Louis Southwestern lists and Wa
bash IDS