New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-06-17
THE DAYS OPERATIONS IN STOCKS

rho s,ock market was dull and irregular with
transactions confined In great part to the opera
,ions NJ professional traders. Commission mousse
business was at a standstill. Some Of the more
,rnortant houses were moderate buyers OF their
snactalties az reflected in the dealings IN BrooK-
,vn RAND Transit and Federal Steel ooth vi
which were comparatively active and Tor Tune
dec,dadlv strong Sugar Refining was again
the speculative leader on fair volume OF 'rau-
@np renresenting in part II was sald' the az
emulation of long stock by interests iden'iheu
with the Sugar Company. The tesllHioh! vi
Mr. Havemeyer before the Industrial Conliile
sion threw little light upon the condition Oh .he
Sugar Trust while f. nishing no information
regarding the compahys policy on lu'uie Wv
dends The aggressive cut rate feature Oh 'he
sugar trade war is generally supposed TO De a'
an end and II this proves TO be the case 'he
investment holders of Sugar Refining STOCK VIII
doubtless have no cause for uneasiness over
their incomes. Sugar acts as If II were gettihe
ready to move higher. but operators VINO ouS
the stock ought to bear In mind that lts nuctu-
atoms in an active bull period are geheraH!
wide and violent and while gradually carrying
the price higher they are likely TO wipe out w
per cent margins by temporary DOWNWARD
trrns AS case has Just been decided in the
exhausted marginal holdings without the con-
cont Of the customer when calls for more mar
gins are not answered, broad margins ought 70
he nrovided in Sugar stock speculation
Early frmness in stocks was followed by
nroAt-taking and hear pressure, the result OF
which was an irregular price movement ending
in the greater number of issues at small net
losses for the day. The anthracite coal stocks
were strong features on buying. induced by the
return TO this city of Mr., Morgan. The an
nouncement in Philadelphia that the firm OF
Drexel G. Co had exercised its option for the
purchase OF Lehigh Valley stock also helped
the coalers, as It was believed that this trans
action represented the final step in the plans
that have long been under way for the har'
monious regulation Of the anthracite industry
The Reading issues Jersey Central Ontario anc
fXyestern Lackawanna and Delaware and Hud
son all made substantial advances. The So
called Flower stocks were in good demand anC
= -New-York Air Brake on small transactions ad
vanced sixteen points. As recently foreshad
8. owed in this column. Federal Steel common wa
yesterday placed upon a per cent basis.
The bond market continues to reflect the pres
ence of capital seeking investment New higl
records are being made every day, and amos
without exception bonds selling at th
best prices OF the year. Brokers report grea
scarcity Of high-grade railroad issues and &
good demand for the bonds of representative
industrial companies The activity and pros
perity in the iron and steel trade have created
an inquiry for Tennessee Coal and Iron issues
especially the De Bardeleben 6s guaranteed by
the frst-named company. This is a solid pei
cent bond yielding over per cent, that natu
rally appeals to the careful investor and specu
lator Tennessee Coal and Iron. with all the
iron companies. is making good returns Of earn
tngs and 1t is understood that there is soon &c
be change in the companys affairs that will
work TO the benefit Of the security holders.