New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-03
BONDS.
THE DAYS OPERATIONS IN BONDS.

The stock market was strong and active the
greater part Of the day, without important
traces of the Generalization that prevailed on
Monday No intelligent operator in stocks was
alarmed over the course OF values on the DAY
mentioned and no well-informed investor was
frightened over the Ford Franchise Tax Dill ana
the posi- bty of gold exports The decline on
Monday was well-planned move by skliful
SPECTATORS while the advance yesterday was
the resultant movement forced by the heavy in
crease in the short interest and the appearance
in the market Of buyers who were looking out
for bargains Well-informed bankers do not be-
ueve that there will be gold exports this season,
as conditions in the local and foreign money
markets are not In favor OF shipments or the
metal: but bankers do expect to see easier
money market and an active bull speculation In
stocks May ought to be a bull month. The
ease with which prices recovered yesterday, the
good character Of the buying on a passing de-
cline in the morning and the unwillingness Of
genuine holders to part with their possessions on
bear attacks we're indications that ought not to
be disregarded by the trader who believes that
the short side of the market is the safest
The stocks that suffered the heaviest losses on
Monday naturally were the first TO recover yes
terday In the opening dealings advances OF
from one to four points were common. while at
the close, after morning reaction, the greater
number Of issues showed substantial net i'm
provement. This was especially marked in
Brooklyn Rapid Transit which ended the day
nearly seven points above the preceding day S
closing The coal stocks were strong and In
fair demand, and Street gossip said that the in
terests identified with the several companies
were quietly absorbing the securities Most OF
the coalers should sell higher on their merits.
II,,do dino
first preferred and Ontario and Western. The
last-named stock represents a growing COM
pany, ably managed and financially sound. Some
OF the best banking houses in the Street hold It's
securities and it is generally believed that a
division Of the stock into common and preferred.
involving a dividend on the preferred will be
made this summer. The anthracite companies
enjoyed one of the most prosperous seasons in
their history in the last winter and the fact that
all OF the properties are now working in har-
mony for the best interests OF the trade means
much to the stock and bond holders. The soft
coal roads are also in better shape than for a
number of years past, and It is not unlikely that
they will enjoy marked attention in the stock
market this year.
Call money and sterling exchange were easier
yesterday while sentiment among weak and
tirnid people over the Ford Franchise Tax bill
was not so pessimistic These three FACTORS
were important influences in the afternoon ad-
vance. but they failed to attract heavy public
buying. A temporary sagging tendency in the
morning served TO make the markets technical
position stronger, and at the close of business
opinion generally bullish. There certainly
is nothing TO worry about 1t is officially learned
that the payment Of the Philippine indemnity
has been arranged for by the National City
Bank and that there will be no gold exports in
making the settlement. The City Bank has
cumulated enough exchange TO cover the trans
action and about three quarters Of the sum has
been for several days at the disposal Of the
Spanish Government In Europe.
rrSr nay,S OpEp ATJONc JN pONnS