New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-08
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Aside from the dealings in few Of the specu-
latve favorites there was little doing in yester-
DAYS securities market. Early weakness was
followed by recoveries throughout the list. but
before the close prices again reacted, leaving
final figures at small net losses in the greater
number Of issues. Trading was mostly Tor the
account Of professional operators In certain
stocks special causes not affecting the general
list were responsible for an active price move
rnent. as in Northern Pacific common American
Tobacco Consolidated Gas and Metropolitan
Street Railway. Northern Pacific common fur-
nished the only interesting feature OF the mar
Ret The stock was heavily sold on runored
REPORTS Of friction between the real owners OF
the property and those who control II under the
voting trust. but the sales thus made appeared
10 be well taken on the decline. II is not I'M
possible that a difference of opinion over the
management Of the property regarding the
policy CT the road In relation 20 its competitors
has arisen, but il does not appear probable that
there is any dissenson among the leading IN
terests In the company. or that there is danger
OF obstructing the current prosperity or the
Northern Pacific system. Wall Street bears are
disposed TO credit the rumors of quarrel IN
Northern Pacific circles in order 10 depress the
price O. the stock and timid holders have doubt
less been heavy sellers In the last two days The
common stock lost ] per cent yesterday, max
ing a net loss since last Saturday of only rs
per cent.
American Tobacco was again weak and lower
and Sugar Refining. after alternately advanc-
ing and declining closed at net gain of n per
cent Bull tips on Sugar Refining are not plent-
full Efforts are being made In certain quar-
tiers 10 inspire confidence in the stock as a pur-
chase at the current level, but the greater num-
price below par before 1t sells materially higher
Short selling alone has not been responsible for
Sugars decline. So-called investment sales have
been made in heavy amounts, and the so-called
insiders are not according 10 general belief.
nearly as heavy holders OF Sugar certlhcates as
they were a few months ago II is long tune
since Sugar has sold at par And as YET no
- hubble intimation has been given OF prooaoie
- compromise settlement or victory In the sugar
q trade war. The manipulators Of Sugar stock
are certainly counting upon lower prices for the
stock before the sugar war comes 10 an END
The market was duller than any day since
the end OF the summers bull movement IN
stocks Such extreme dulness often foreshadows
q sharp movement in some direction; but IN
view of the approaching elections and the
assumed pessmism in the Street a decided
movement. II II comes, Is not likely to be
hacked by a public demand for stocks. Senti-
ment is somewhat mixed In the Street over the
markets prospects between now and Election
Day 1t is evident however that few people
lcok for real bull market pending the outcome
Of the Congress elections. Current fluctuations
In local electric light, gas and transportation
companies are based upon various theories ana
conjeetures regarding competition that may re-
suit from the recent Incorporation or company
with S250O000O capital. with the aVoWed pur-
pose Of supplying electric light and power.
GOSSIP connects this company with the Metro
poli,an Street Railway and the Brooklyn Rapid
TRANSIT COMPANY. but 1t may be that the Man
haitian elevated is mixed up with the new con-
Germ. incident 10 its proposed change in motive
power 10 electricity.