New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-13
BONDS.
, THE DAYS OPERATIONS IN STOCKS.


The stock market, while apparently enjoying
ythe attention of professional traders only. ex-
hfbits some indications of active operations by
Interests who are doubtless preparing for
,euynner campaign on the bull side Of specula-
fion- The backing and filling in yesterdays
market the extreme irregularity in which prices
-were alternately strong and weak, reflected
1contest between the two speculative elements
and manoeuvring for a good position by some
of tho more important spectators in the Street
Operators who favored the recent decline all
heiieve that higher prices will be seen this
summer and II be stated as a fact that
vhe greater number of these operators are now
accommodating stocks and arranging their lines
Tor the summers market Moreover, II is gen
orally believed that some important pools are
being formed. and that Sugar Refining ana
Brooklyn Rapid Transit are among the favorites
OF current pool operators. At its current rate
of earnings Brooklyn Rapid Transit is making
moro than per cent, and the interests identi-
ned with the company are predicting much
higher price for the stock while at the same
time they are trying to locate short interest
that is presumed TO exist in the issue. 1t was
reported in certain circles yesterday that
prominent Nassau-st banking house was the
chief bear element on the stock, and that
further advance would be vigorously opposed.
That the short interest possesses some nfu-
ence was proved by the sharp break in "B. r. t.
at the close, when an active raid carried the
price down points. Sugar Refining was also
hammered in the final dealings. but 1t closed
at a net gain of points. l-1
so-called purely traders market is gen.
orally utilized by the bigger operators to pre-
pare for decided movement In stocks and IL
tc oarta trt1 10 10
ditions governing the actual worth Of securi-
ties are In favor Of higher prices-that the next
movement will be in the direction Of active bull
speculation. In yesterdays market however.
evidence was not wanting that there two
wen-defned sides to speculation. but the ad
vantage appeared to be with the bulls who
are confident that the bear party cannot sue
cessfully combat the powerful interests that
are Enthusiastically arranged on the bull side Of
the argument. Big margins. however. ought to
be provided. for II there is to be big mar
ket. big fluctuations will necessarily take place.
The local traction and steel stocks were promi-
nent features OF speculation: also the granger
shares. Peoples Gas. Atchson preferred, Amer
lean Tobacco. Sugar Refining and Reading
first preferred. OF the cheaper stocks. Mexican
Central was a noteworthy strong feature at a
net gain Of nearly points. At the close there
were more net gains than losses, and while
final price fluctuations were irregular. the gen.
eral undertone was strong.
1t is generally expected that to-days DanR
statement will make most favorable showing
From the known movements Of money in the
week cash holdings ought 10 exhibit a large
increase and this, in connection with the
liquidation Of loans incident TO the weeks sell
ing of stocks, should be reflected in con-
siderable gain in surplus reserve. The banks
have gained on ntesor operations while with
the Sub-Treasury the gain has been large. owing
to the payment TO the National City Bank OF
the greater part Of the Philippine indemnity
money. Trade reports received last night show
no let-up in Industrial activity, the volume OF
business as reflected through Clearing House
returns. exhibiting a gain Of 10 per cent over
the same time in the prosperous year OF lS3Z
highly gratifying.
THE DAYS OPERATIONS IN BONDS