New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-03
cordlng to b.st opinions in wall street chang.

cording 10 best opinions In Wall Street. change
he current upward tendency NJ Investment
curtles Some stocks and bonds have doubt
less reached a point AT which great care should
be exercised In buying for n further RICE. but
"A number of issues are considered by conserva-
tive interests. to be Ear from the prices war
rantcd by intrinsic merit. New-YCrk Central On
a I per cent basis with the expectation 81 g0-
Ing on n > per cent basis. and now selling ~ 49,
offers less nducement for the spcculatOr Just Al
present than many other securities ~ equal
merit but A. lower market values Peoples
Gas and Coke successor 10 Chicago Gas) pay,
q per cent and IL making more than per cent
yet II is selling under par. Inc loN-prlced issues
and dividend payers which are selling below
their actual worth will probably furnish The
nucleus for the next upward NOV ment
The bear element was active to-day. but failed
to induce public liquidation. Pront-taking sales
were made by local and foreign houses. and the
oT' rators for n decline refreshed their own poss-
mistic spirits with doleful talk about alleged
rate-cutting In the West and the iniurl0g,
effects Of yesterdays storm on business.
Activity Was restricted by tho breakdown - The
telegraph service between New-YOrk and B0s-
ton but this factor and those Just named were
not impressive enough 10 impair confidence In
the market or cause important reactions IN
prices. The tendency 10 yield was most notice.
able i'm the Granger shares. Manhattan and som.
Of the Industras. Exceptional strength gas
shown by Baltimore and Ohio. Great Northern
preferred Chicago Terminal Tho Anthracite
list The Vanderbilt issues Gake shore excepted.
Norfolk and Western preferred. "P4nuandir'
western Union and the new Union Pacific pre-.
feried. the last named being dealt In FOR the
first time to-day.
wall street hears who think that they can
engineer movement with tho idea that he
elections next fall VIII rcsu.' in a free silver
Congress are already figuring out their PROFITS.
The fan elections are llrg way ~ and he
bears are starting IN somewhat carly. Perhaps
# the Teller resolution mad n0t been s0 ignomln-
iously defeated In the lower branch ~ Congress.
and IL business conditions and prospects we're
not 50 encouraging a free silver Congress might
be a possibility. II Is probable that The Teller
resolution will serve 20 rally an sound money
forces next fall in numbers large r0ugh f0 over
come the ordinary reaction that takes place
after Presidential election. i ls extremely
improbable that bear OPERATOR WiI meet ma
terial success In trying 20 deludo Investors INTO
believing that the silver issue is more ~ factor
in the current situation than business eNpan-
sion People who feel uneasy ought to read he
interview with Secretary Long printed In The
Tribune this morning. Bond market 'ransac-
tlors were heavy again to-day and there vas
M evidence Of reaction in prices or NJ = falling
off in the investment demand A. long as this
investment buying is the leading feature - The
Wall Street markets the prospects for higher
values in stocks will remain bright
Last prices for the principal active stocks
compare with yesterdays final quotations ~
follows.