New-York tribune., 1899-12-28
sEx dividend.
BONDS.
,Ir nays OPERATIONS IN STOCKS.


The London fortnightly settlement did not up
set the London market. II passed on Wl'hou'
,reeantine weakness abroad. but II disclosed a
large short interest and in consequence induceo
a huving movement Of small dimensions
local traders who sold short on Tuesday In the
exnectation of adverse developments III the
uondon market Yesterday were urgent buyers
et the orening. and with the exception or spas
modic attacks on the more active issues 'heI'
was well-maintained buying movement
throughout the day. Money was comparatively
easy railroad earnings received were heaV|'
and the South African situation presented no
new unfavorable developments. Many farsee-
ing operators are buying stocks on the exceHeht
theory that England will defeat the Beers ana
that q few decisive British victories Will DO
moro for securities prices than any other IA
vorable developments. The market may nave
N wait a while for British success. but eventu-
sIIv II will come. The war in South Africa mas
shut off Englands source Of gold supply IN 'ha'
direction but this aspect Of the situation loses
a great part of its significance In view OF the
ability of London to secure gold IN the Imteu
States The market closed at suDstantal net
gains
Some stock market traders seemingly oeheNe
that the world depends upon the Transvaal for
:, NAV he assumed that certain people consider
the nresent stoppage of the South African pro-
ductIon permanent rather than temporary. The
g., of cold from the Transvaal mines has
haar checked but II is only for a time. The
Director Of the Mint, in a recent interview
satd that the Cripple Creek district is now up
IN the Transvaal record Of five years ago. that
Colorado will produce more gold In l"oo IMAM
all North America yielded ten years ago ana
that Cripple Creek. with Alaska and the klon-
dixie will next year exceed the IransNaal pro-
duction oF 1897 Evidently the world does not
depend upon the South African mines Inc
poar war has checked a normal movement of
about 50 600 900 a week to London. ana natur-
allv the money market has been affected. But
tight money in all centres VIII not endure as
long as the war will for the simple reason tha'
business affairs will become readjusted TO ne"
conditions, a process which is now under way
Money &c normally dear at this season Of the
wear. but after the January disbursements us
normal condition is one Of ease. 1t will not
be as easy this year as in many other years
but there will he an abundant supply for al
the legitimate needs OF general business ant
speculation.
The stock market might appeal more 10 tn
outside trader If a more friendly feeling were
exhibited among certain powerful speculative
interests The continuation Of the gas and suga
wars does not speak well for the common sens
and business sagacty Of interests which ar
supposed to he uncommonly intelligent. IN
malicious stock jObbing schemes and persona
animosities involved in the traction share specu
lation are not conducive TO public buying. IN
new year may induce change Of heart amon
the gas. sugar. copper and traction hghterF
and possibly the investigation into the Brookiy
Rapid Transit matter may influence many Of IN
interests concerned to make some conscientiou
resolutions for 1900. Peace and good will anon
= the leaders in Wall Street would have an i'm
portant and favorable effect upon prices an
sentiment The general public may not hav
been the chief sufferer I'm the last weeks crasi
and 1t may he ready TO come into the markt
when il is convinced OF the sincerity of IN
speculative leaders.