New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-30
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The loss in bank holdings shown in Saturdays
statement of the Associated Banks suggests that
the time has arrived for greater caution ana ds-
criirina ton in marker operations. ~ does not
however indicate approaching stringency or al
ford good reason for worry among investors ana
people who can buy stocks outright or hano'e
chem on LARGE margins sudden advance In
noney rates IS strong bear card. and as rul"
disastrous 20 small traders. who overtrade and
ara not content with narrow profits. The pres
en-, condition Of the money market may not
cause any material reaction IN values and Il
certainly Will no; proven: stocks from selling
above the curren, level before the year - over,
but es higher rates may develop and bear oper-
ators grow courageous, Il may be well FOR specu-
Iators 10 keep their bullish enthusiasm in check
until the future Of the monetary situation IS
more definitely defined Gold imports we're ar
range to- Yesterday. The movement will doubt-
less reach large proportions. and as long as the
foreign trade balance remains so heavily In this
..,lntry's favor there need be no fear Of money
str!ngency Temporary higher fluctuations are
70 be looked for. AMI stock speculation should
ne arranged accordingly Investors who have
little 20 do with temporary influences Will lose
nothing for 1t Is ball year. and prices Will
according 10 general BELIEF, eventually sell
higher.
Fearing higher roney rates. many people TOOK
their prof, T.. yesterdays market. while bear
operators were aggressive throughout the ISL
Stop-Ioss orders were reached In some stocks
and in others there was liquidation, owing 70 ex-
agRerated ideas % the monetary situation Inc
result OF the days business was prontap!e ioi
bear traders, declines Of from ! 10 Z per cent
being made. and it will doubtless turn Out
profitable to people who bought on the deciihes
Stocks were we'll absorbed by innuenta! IN
,erests London was again a moderately heavy
purchaser IN this mari:et. and local commission
houses reported good demand from people who
are able TO take care OF stocks in any decline
The market was strengthened by the reac-
ton further setback in values would not be
disappointing to the real bulls in Wall street.
but a material decline does not seem prooaDie'
for technical market conditions are not maze
up Of extensive overtrading, pyramiding or nc
,;tious prices Money rates remained unchanged
at last weeks higher level, while sterling ex
change showed weakening tendency. with
demand sterling at 4S4%a4s5 Gold to the
amount OF S2.OO0.Oo was bought IN London for
shipmen, 70 this country.
The Stock Exchange suspended business for
half an hour while the list Regiment parade
was in progress but. notwithstanding this In
terruption. the total volume Of business was
large. Stocks in which dealings have recently
been the most active naturally suffered the
heaviest losses Union Pacific issues, Burlington.
St Paul Sugar Refining American Tobacco
Brooklyn Rapid Transit and some OF the spe'
cialties losing from ~ 10 2 per cent. GOO
import reports served TO steady quotations after
initial weakness. but further recessions were
made In the afternoon. with last prices not far
from the lowest Of the day