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


Persons who come into Wall Street on Mon
day morning TO buy stocks would better arrange
10 put in their orders after the initial transac-
tons have been accomplished On every active
Monday since January | opening prices have
shown violent advances. while subsequent deal
ings have been transacted at substantial recess
sons in the course Of which better buying prices
have been obtained than at the preceding Sat
urday's close The movement Of values in yes
terdays market no exception to the usual
Monday performance. The opening showed
many violent advances. while before the end of
the first hour the best part Of the advance was
lost and in some instances values ruled lower
the remainder of the day. with more net losses
than gains the close Realizing sales
were enormous. They were especially marked
in the stocks that made such striking
advances last week as Federal Steel and Brook
Ign Rapid Transit Another feature Of the day
was the apparent beginning Of bull campaigns
in issues that recently have been neglected
notably Kansas and Texas preferred. Missouri
Pacific, tennessee Coal and Iron. Rock Island,
International Paper and TO some extent in
United States Leather preferred.
OF the stocks Just mentioned Rock Island,
Kansas and Texas preferred and Leather pre-
ferred are. according to the speculative point Of
ward movement than the greater number Of
stocks on the list Rock Island has the prestige
of the so-called Flower backing. and outside Of
its actual value-which is great-it should APP
neal TO the rank end file Of the Street because
of the astonishing success Of the bull cam
uaigns in Peoples Gas Federal Steel. Brooklyn
Rapid Transit and other issues with which the
magic name Of Flower is connected. Kansas
and Texas preferred has been a laggard. but its
action Yesterday appeared to indicate that 1t.
too will soon be in the class Of favorites. AS
for Leather preferred, it is reported that the
company will soon make some arrangement by
which the back dividends on the stock can be
settled and that in expectation of this plan the
stock will sell much higher. The Leather com
many is doing a profitable business at present,
and as the preferred stock pays per cent, thus
yielding at its current quotation about ga per
cent as an investment It would seem that its
market value was much too low in comparison
with the stocks of many other industrial con-
Germs Of less merit. The chief factor in Leather
speculation just al present. however, is to he
found in Wall Street office that houses the
most successful Spectator in the Street
The greater number Of railroad stocks closed
at net losses while the industrials. As rule
were at the end well under their best prices OF
the day. Manhattan which was the strongest
feature in the railroad list was also the most
active stock dealt in, its sales aggregatng more
than 40 600 shares After the close Of business
traders learned If the Manhattan-Third Ave
nue. alliance and II is therefore likely that the
stock will he "skyrOckety' to-day The enor'
nous realizing yesterday represented IN great
mart selling by holders who are generally known
as substantial market interests. The same in
terests sold their holdings early in January and
bought them back at higher prices. If the pun
lie is in the same mood as IT was In last
January the upward tendency will he sustained
irrespective of support from the so-caned sub
stantial interests. II should he borne in MIND
however. that when stocks are widely distrib
uted in the hands Of the public the market Is
more susceptible to bear influence. and as
consequence big margins are absolutely neces
sary for. buyers at the current leYel Money
was firm yesterday. and it will doubtless re
main so throughout the week.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDs-Market firm. Fina