New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-29
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market yesterday failed 10 retain
.ha activity developed on the two preceding
.svs while prices exhibited little inclination 10
MOVE higher There were. however few de-
.unes Of Importance. and in some instances
srrau net gains were recorded. although the
greater number Of issues closed at net fractional
losses The bond department continued the
Wore interesting feature OF the days business.
total sales amounting in par value TO more than
soNAOoO Current operations in stocks are
M, sufficiently heavy 10 cause sharp movements
4, values except when manipulation is in prog
ress as in Sugar Refining. Manhattan and other
speculative footballs; but just as soon as public
buyers come into the market and stay in. there
ought 10 be a pronounced appreciation In securi-
,,ss values Conditions warrant an advance.
but conditions alone cannot make higher prices.
. demand must be created. 1t is not the period
o, the year for active or buoyant markets. and
many operators are apparently waiting TOT pos
sihle developments following the reply OF Pres-
dent Mckinley to the Spanish plea for peace
before entering upon vigorous bull campaign.
ubua others are inactive owing TO uncertainty
sbout the crops and the future foreign demand
for orr hreadstuffs.
Cron reports are most satisfactory. ard peace
negotiations from Spain and possible develop
n,ents regarding the Philippines involving other
foreign Powers will not reduce American rail-
road traffic receipts curtail the foreign de-
mand for American grain. a demand for stocks
will probably arise irrespective OF present doubts
over future happenings, when least expected.
and until that time there is no reason TO sell
stocks because bear traders are uneasy concern
ing the country's business and political outlook.
A short interest is good prop for the bulls,
hut excessively dangerous at present for the
operators behind IT, This was reflected in Man
haitian stock yesterday. campaign against
the shorts resulting in quick advance In the
price Of the stock and rapid movement by the
bears who generally covered at loss Ana
Manhattan is perhaps one OF the most attractive
stocks in the market for selling short. for unlike
the majority OF issues Il Is not worth more than
its present price, and possesses no legitimate
excuse for reaching the figures at which II SOLO
when the company had q monopoly OF the citys
TRANSFORMATION business. II Is, however. IA
yori;e OF manipulators, and may sell higher
despite the injury done 10 It's business by the
surface companies.
United States Rubber was strong and active.
traders buying on the theory that the death OF
Mr. Banigan removed all formidable opposition
IN the trust. Burlington was an active feature:
sIso Chesapeake and Ohio. St. Paul ana Peo-
ule,s Gas Sugar Refining maintained It's lead
IN respect 10 activity ST. Pauis earnings FOR
June were received yesterday. the results max
inc With those Of preceding months an exhibit
,,o, for the fiscal wear never before equalled In
the history OF the company. A sharp decline
IN the stock OF the National Linseed OIL Com
pany followed reports from Chicago OF unfor'u-
nate financial operations