New-York tribune., 1898-01-10
ruT FINANCIAL MARKETS.
sTocKS AND BONDS HIGHER.
.oxn,r1oN OF THE FEDERAL TREASURY
RAILROAD EARNINGS.
Sunday. January 9-p. m.


... ,o.o husiness DAYS OF the year
- M noteworthy increase or interest In
-, market operations. but on Wednesday
s'.,.n,eut began that led good judges on the
~ rxchange 10 believe that an old-tirne jan
e,ss IN priccs was under way. Based upon
.ss conditions and prospects, adequate
-, ox.sts for higher prices in the stock mar
- Terhnical market conditions warrant an
s.rcs Political and money conditions are
~.,orsble - activity in investment securities
-,en,s OF uncertainty lie IN possible ADVERSE
",-oad decisions by the Supreme Court, and in
'',,,o demonstrations Of Jingosm and Popu
-, -,alk in the Senate. but there is no reason
." - .,r,osA that either Of these factors, II de-
.,.nsd will iniure the intrinsic worth OF Sc
..,,,.s or materially depress sentiment that IS
s.uv growing more optimistic. Trade reports
-. ,hA first week Of the new year show increas-
~ ~ ,-ooress in the country's activities The
iis F,a~kst &c improving, both in prices and
l'o,nrt l'on Paiiroad earnings tell Of business eN-
!nnsiSn ~ throughout the country, and bank clear
t.ss show a daily gain in the volume or mercah-
..vssi .av a reduction in New-England cotton mills
~ss hut q demand for cotton goods has been
.Sr,ula .ed hy the decline IN price and II Is not
nniSey that Improvement in this branch OF
49, Viii le a development OF the new year
y.hss- Exports continue large, and reports from
,ss hest sources indicate that the worlds visible
.ncriv and the foreign demand FOR breadstuns
III make large exports necessary throuSnont
.sn ,sxt SIX months and insure good prices for
american agricultural commodities. The pal
snce a. trade in this countrys favor Is stiil on
the Increase
:, would he possible to enumeratc and sum
rart.e many more factors OF enooursgement
IN the country's commercial and fnanCiai posi-
,lnn but doing so would be telling OF Things al
,so6v known and speaking Of evidence Of which
svervboly has actual proof. In view of all the
favorable factors in the situation, including
The gratifying improvement in the Government
-aysnue account. IL Is not remarkable that capl-
.si = seeking Investment The January inter
ss, and dividend disbursements have supplied
tie mark: with q heavy amount or fuhus
available for use IN the securities markets.
T,ha scarcity of high grade bonds has stn'u-
lated speculation in stocks ana induced invest
ors 70 put their money into loW-!Tieed oonus
nrd'c good cividend-paNing STOCK issues ihNeS'-
zen. huving in such stocks as New-N ork Cen
raj Lake Shore. Michigan Central ana Illinois
central vas q feature Of the weeks business
~ - e,ocl, ~, ,rket And in stocks classed
among the low-uriced issues. as southern KAN
rav r~efsrreG NtChson preferred and General
Fiec.ric there was q strong and confident buy
ing based upon he excellent prospects OF these
na9,reriae The a-eferred stocks Of reOrganized
rsii-oai nroperties Will sell much higher. Erie
preferred Southern Railway preferred Atchson
preferred and Northern Paclhc preferred VIII,
According 20 excellent judges surprls. their
friends ~ 1S9> Wabash preferred. Loulslliie
ana Nashville Mssour. Pacific, | mon Facihc
and Pacific Mail are among the issues Nhlch
vii q
roe-t The Increase in industrial Development
IN fNa south inslres an investment value for
Southern securities. and. despite the low price
cr cotton and the setback caused by the yellow
feve- las: summer the Southern roads show
sn,erdid record for the last SIX months or 1891:
Southern RAILWAY preferred. selling al 81: pald
. dividend Of ! per cent week ago, and u IS
not unlik-,v hat the company VIII soon be aoie
- make regular quarterly distributions. From
Iulv ! 20 December 81 this companys gross
earnings increased S614473 over the correspond
ing period n year ago The soft-coal stocks are
more promising. ,
Money IS beginning . move from the interior
and rates az this centre are growing easier
The foreigr money markets are also tending
toward lower rates. ana this fact. with the bet
Ter political outlook In Europe has already been
rejected IN more active foreign securities mar
kets and increased arhitraga dealings mere Inc
characteristics % a genuine bull market are not
vaDure fcvervbOd v-eSpected a bull market.
bu, nobody was agreed about the time OF us
coming Il an adverse decision should he hand
e1 down Fl The Nebraska maximum rate case to-
,,orrow the market VIII doubtless suffer tenn
.3rary setback Il nothing Of an adverse nature
comes from Washington. higher prices can be
,aoIe9 pr Sentiren; is buliish.
The movements of the chief active stocks and
bonds IN the week are given In the following
tables:
STOCKS