New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-26
BONDS.
THE DAYS OPERATIONS IN STOCKS

The wheat market was decidedly weak yes
terday The result Of more encouraging re-
ports regarding the crop situation In the west
AS the wheat market declined the stock market
rose, and for the first time in many weeks the
pessmsts and crop experts were willing 10
admit that after all this seasons crops STOOD
a fair chance OF returning a profitable yield
Perhaps to-day the theorists OF Wall street
who are studying the laws Of chance and
probability, will again sink back to gloom ana
sadness over crop conditions. endeavoring in
their cherries representations to induce IN
vestors and well-protected marginal holders TO
part with their securities possessions, while
seeking to create the impression that values
must of necessity sell materially lower before
they can move higher Any one Is at liberty 10
take the bear side of the market, but In selling
istocks short the trader would better bear IN
mind that he is not supported by the more I'M
portant speculative interests in the Street. Many
traders realize that the short side OF the mar
ket can be safely taken for quick turns only
owing to the preponderance of promising fac
tors in the business situation, the confidence
of investors and the position OF leading market
houses On the market.
Speculative sellers were the chief operators in
Mondays market while yesterday the same
interests were in evidence buyers There
was also some commission house buying and
further 1riet absorption Of stocks by persons
who are getting ready TO move their favorite
issues 20 materially higher range. The
grangers leaders in the days recovery.
while Brooklyn Rapid Transit and some of the
spccislt,es made marked improvement The in
6ustriais with the exception of Sugar Refining,
we're not particularly active or strong but as
rule they closed at small net gains. Manhat-
tan sold down on reports that the city authori-
ties had condemned the Ninth-ave. structure of
the COMP any, and the late selling in this stock
caused renewed bear pressure elsewhere in the
list. although the reactions brought about were
insignificant feature of the current market
is the willingness of public traders to respond
20 advancing prices and their immediate with
d:sws. from the market the appearance Of
bear attacks. The public needs little encour-
agenent TO become an active factor in bull spec
ulation, but it will take more powerful infu-
cree than bear manipulation to make 1t sell its
securities holdings
The money market comparatively easy.
ana little or no discrimination was exercised by
the banks against the good class Of industrial
securities. speculation in the industrial is
sues has Quoted down. the banks find no reason
for refusing loans industrial collateral, and
in many cases the banking institutions are ex-
ceeding liberal with stocks which few weeks
ago they would not accept for loans The call
money market ruled at 312q4 per cent, and
time loans are made at from 31e TO AZ per cent
according 10 the period required. The tendency
OF rates is toward lower level, and in the
coming summer months there ought to be
heavy pressure of lendable funds at this centre
and as a consequence an active movement OF
. money into railway and industrial stocks. Rail
way earnings show heavy gains over the same
time a year ago, when returns were far above
those OF the preceding year. and, despite the
fact that grain shipments are well under last
years record. the Western roads exhibit marked
Improvement. 81. Paul for the third week in
creased $4,000 over the corresponding week in
1895 when grain receipts at Chicago for
the same time 2.0000O0 bushels more than in
the same week this year.