New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-07
BONDS.
THE DAYS OPERATIONS IN STOCKS.

runortan+ ,oarkat interests generally begin
bull campaign in securities long BEFORE the pun
lie musters sufficient courage to buy. Ana IL Is
generally in a period Of market 6uness that the
big men quietly absorb stocks. so-calied pro-
fessional market like that now current lolio"-
ing a season OF declining values. presents OPP
portunities for the accumulation or stochS
from day to day at quotations when snow III
tie variation. and II Is possible Tor carelui
operators to secure a large line or STOCKS WIFI
ont arousing suspicion that bull movement Is
actually under way. 1t is beheVed III many
quarters that any weakness which may develo?
between now and Election Day Will De 'ahe"
advantage Of by substantial cal italists to In
crease their holdings Of securities 1t IS also pe
,,eved that capital is not worrying over the out
o,,,o ~ the November polls. When the pro-
motors OF a bull campaign are well loaded with
stocrs the nubIic learns that conditions are ripe
for an advance in stocks; and the pubic theh
,noLes the bull market. Wall Street IS now
waiting for the return OF the public 10 active
ejaculation It would surprise nobody If stocks
were to decline further before November nut 1t
would disappoint everybody in the street II
values did not sell at materially hiGher figures
before the end of the year.
In Yesterdays market there was no particular
evidence that good buyers were In the MARKET
hut it is not unlikely that there were quiet pui
coases for the account Of People VINO can dno'' =
n carry stocks until they are able 70 dispose VI
them at handsome profits. There Is no en-
tbusiasn, in the market when the big men are
buvIng. II is when the big men are ready 10
sell that enthusiasm runs Wild Inc inous' Ia
stocks furnished their usual quota OF 'he oas
,rregularity and dealings, with tobacco III.
leader in point If fluctuation. an early oredh VI
Az ner cent being followed by recovery VI
over two points. which in turn was succeeuV'
hy a further setback near the close "uk"' w
enine was weak and strong alternately WIN d
small net gain at the end. The borrowing ue-
mand for Sugar certificates was heavy. = per
cent premium being paid. hut there was W"
siderable doubt expressed regarding the genuine
moss NJ the demand London prices were lower
"a sa,es NJ about 1900 shares for foreign &C
count were made in this market. The Union
"a Nor,bArn Pacific shares were adversely az
tected nv the London selling. and 1t was re-
,or,ad that Northern Pacific common was
noo,,u, cold nv people whose interest In the
o,arty &c large AS rule. the railway hst
,os .. email net losses Local traction shares
,rora excent,onally strong; also Chicago and
,,o.,ar, Illinois New-York Air Brake and Pan
handle stocks.
The money market is growing easier as re-
suit of an increasing money supp! at 'i''S ''"
ire In the foreign exchange market purchases
= 49, s,er,ino for investment have begun. and
. t,rtber decline In money rates will doubtless
.,,rr,ate a heavy demand. Current exchange
.o,os 40 mot warrant gold imports. and as the
.,.,a.,or mn longer REQUIRES additional COLO IL IS
-. It'll, that GOLD imports will be resumed this
season.