New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-27
BONDS.
The DAYS OPERATIONS IN STOCKS

The stock market was feverish and irregular
Yesterday without decided tendency in either
direction Some stocks closed fractonally ABOVE
Fridays final figures. while others showed SINAI
losses but neither movement presented HnPor'
tant changes save in Manhattan which sur
fered net decline Of over | per cent. untl the
political skies are brighter. caution should ne
the motto Of the small trader in Wall street
The Immediate future OF the market is dhcer'
tain and no conservative commission mouse
which respects the best interests or us Gus
toners advises speculative purchases except
on sudden drops for quick turns only. The stu
alton demands extreme care on the part OF
marginal spectators. The best course Tor them
20 follow is TO stay out Of the market entirely
Fridays rally and the exhibition Of strength IN
some issues yesterday indicate that stocks are
in stronger hands and that the market is less
likely TO suffer from bear aggression but. despite
this further declines are possible. and not I'M
probable.
Owing TO possible happenings the withdrawal
Of small spectators from the market is wise
And the absence last week Of public layers
despite the favorable chances to secure stocks
cheaply. was based on reasonable grounds. II
was bargain market; an excellent market for
investors and operators Of large financial means,
but distressing marke: for the small bull who
Is always bull. Even a bull must at times
change his hide If he wishes TO be successful
Spectator Yesterdays market closed with
bear sentiment in the ascendency. and traders
freely expressed the opinion that the covering
movement in stocks had run its course. and that
they expected n sagg1ng market this week
There was realizing by traders who bought Fri
day. and the bears sold in expectation OF poor
bank statement.
he In Sh holdings amounted TO
700 but In surplus reserve 10 only S2I29125,
against a loss a week ago OF Sc 14SGOO The
heavy liquidation of speculative accounts In the
stock market in the week was reflected In
decrease in loans OF S5036SOO. while deposits
showed loss Of S93463OO The banks sur
plus reserve now stands at S22959325 against
S57.52O.915 this time a year ago. 1t will be
noticed that the reduction in reserve is about
equal to the engagements OF gold made on Friday
for export this country, and that the falling or
In deposits is about equally distributed in the
decline in loans and loss in cash holdings The
condition Of the banks is not so serious as
bear operators would have people believe nor
does yesterdays statement even furnish sus-
picion Of serious conditions. 1t served, how
ever 70 encourage renewed operations FOR the
short account near the close OF the day, the
result Of which was great rregularity in the
final dealings.
London was again a buyer and commission
houses bought moderately. but the bulk OF the
DAYS business was done IN the interest OF the
professional account Trading narrow and
restricted TO the leading speculative favorites
Sugar Refining Burlington, ST. Paul. Rock
Island Peoples Gas. Northern Pacific preferred
and the Union Pacific issues furnishing over
one-half OF the total dealings. According 10
gossip, Sugar Refining will sell lower. In view
Of the Cuban uncertainty gossip may as well
include the entire list. The markets near
future depends altogether upon Washington and
Havana developments. The following tabls
shows the losses sustained by number Of
active stocks from the high prices Of the year.
made. as a rule Just prior to the De LONE in
cident and the sinking OF the battle-ship Maine: