New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-20
BONDS.
THE DAYS OPERATIONS IN STOCKS

Trading in stocks was practically nfeess. In
the absence Of important interests and public
huvers from the market, boardroom traders re-
sumed operations for lower prices, meeting
however no decided success. Business In bonds
reflected n fair amount Of activity, which mol
Gated a relatively better demand than In me
ebsra departrent this being especially pro
nounced in the w-priced issues II should be
noted that the tendency in the bond market Is
toward a higher level. while the total OK daly
sales is we'll above the average or past MD
summer dull periods The activity OF the pears
induces no important liquidation, and 1t Is PROB
able that In case Of material success by opera
tors for lower prices heavy buying ORDERS "ou'o
be Immediately forthcoming. At present there
is little stock offering. and bear traders are az
q r,,le forced 10 take back their own stocks at
cost for their sales ara practically the only ones
making
Reports that yellow fever had broken out at
Tampa assisted the bear campaign. and prices
IN the afternoon were generally below Mondays
closing Louisville and Nashville was sold on
fever reports and Metropolitan Street Railway
was again lower on bear pressure and iqulda-
ton In the Granger list 81. Paul was weak on
selling induced by the company's earnings Tor
the second week in July. which showed he-
crease as compared with the same week year
ago Of about $4,000 The greater number or
companies reporting for the second week show
encouraging gains. and the loss in Ct Pauls
receipts 4, offset by the heavy gains in May
while representing the reduced volume OF grain
traffic incident TO this period Of the year. rather
than an actual backward movement in general
Industrial expansion London did very little In
this market. arbitrage trading amounting to less
nlun ...ht tna bar
we're purchases A break OF per cent in Span
ish As had a somewhat unsettling effect upon
the London market. and local bears assigned II
as an additional reason for attacking values on
the theory that decline in Spanish securities
means remote possibilities Of peace.
The current dulness In the stock market
doubtless reflects a disposition among specu-
lators and investors 10 remain inactive until
crop conditions and Industrial progress give
clearer indications OF what the future Will bring
forth II IN argued that market values have
been adjusted to the prosperity developed In the
last fiscal year. and that the present is time
for reflection and preparation. by which the fut-
ure situation may be measured There appears
no real uncertainty over the ability Of economic
and financial conditions TO maintain the high
level OF prosperity reached In the last twelve
months but the spirit Of caution rules strong
among the interests upon whom devoiVes the
support Of a bull market and until the dull sea
son is over the crops assured and the fall bust
ness under way. these interests are likely TO
make extended market engagements. War
IT, in a measure. restrictive influence. but It
is not likely 10 be taken into active consdera-
ton when the market once begins 70 revive in
response TO a demand created by the belief that
prosperity In the current year is TO be as great
as 1t was last year. Meanwhile. holders OF Sc
cur1ties are sufficiently impressed with the pos
sibilities Of the future Of values 70 retain their
possessions, despite bear activity and bluster.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS.--Market inactive.
Final quotations follow: