New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-12
sex dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Speculative liquidation on moderate so"'l
,ook place in yesterdays market rear va e.
,nonev induced many timid holders 10 SELL nv
Che professional element was active i" e''u,
90 bring about a lower level OF values
money market situation was alone reSp'"s'''
<or tho DAYS course Of prices IL shouIu no.
.ss,noed however that the selling rePIeH'"'''
49, .ro,eactIons Of important market interests
.ha+ the actual position Of the money market
,rantad the sale Of we'll protected mornings
.. loss A a matter Of fact substantial -,
.arssts were buyers on the decline "hile 'P'
.,g banking houses quietly absorhed 'hr 50
a. which they are especially mteres'eu -,
oo,ederce expressed by the more hhpo' Jaw
bankers in the Street IN the hio"es MAJ
.'..,ot,oo influenced intelligent holders to nam
,ain q position on the long size "i s'oC N9
49, naturalization and selling for decline 'n''
caused such sharp reactions IN 'na"H
IT, local traction shares and the granger ISSUE
we're the especial targets Of bear a''a'NS
market closed dull and under pressure =
ejaculation AT this juncture Is de-
oo,aea II the best interests Of the market are ~
u.,aarad Leading interests in wall Suee
=. o,ar,,ad about the money market LOT
-. ,,roy, fuu well that money market coiul-
80. -oeect general prosperity throughout 'He
-. Put these interests wisely discourage
- trading in securities until money aNaH-
- .or speculative purposes becomes more
-,.,.,f,, IN this city If the position ol the
-, we're not upon such firm founda'lo"
:. ,.,al,,s mss in bank holdings Woulo IloS'
.,,,,,, he followed by a material decline III
,.. In the nresent situation. however 'he
-, value of securities is improving so raplu
=, .ho+ the slightest decline in market Values 10
,.., oa,,antaee Of by new and old buyers VINO
oDsider the smallest recession equlVde"' ~
1oain This demand prevents an Iihpoi ''A'
.a,hack while on the other hand an ACTIVE 81"
oral inward movement is checked pS INC
A., the demand for money incident 10 Hea'S
.o,,,rv for stocks would cause real suiiis0"OS
a. tho loan market The supply OF hoa'l"s 9'o t
a,,tsidA Of rich mems hands is small anu INV
- 10 absorption is such that selling has HUE
lasting effect upon values
O,,+sida of stocks IN which special influences
are az work the market promises to be walt
.rg one until the future Of the money market j.
more clearly defined. 1t may take some H''lt
.,rre before relief will come. hut meanwhile there
annears nothing in the situation that shoulo
create alarm or uneasness \aIueS are ho' III
dated and the market is not MADE up OF speCu-
1stive bubbles People who have Viva memories
~ mast disasters in the speculative field are be-
ginning 10 ask n ano'heI usdH'V - n.y. Oh
rroachng Pessimists who nave loSi theH HloHe'
IN staying short Of stocks or out OF STOCKS ar
irving To create discomfort among present own
ers of securities. while out and OUT pears ar
using every influence within their power t.
,roat the market Disaster is not in sight bu
+rrther Improvement in business is practically
assured Railroad earnings promise 10 make
better showing in September than noted II
.,,.. pork clearings are increasing. exports
sre growing and gold imports are not improb
ohio II will be hard 10 break the stock marke
whom the conditions named are in force. None!
market needs have reduced the local bank hold
.nps but these needs represent prosperity. no
snecuIative initiation or bubbles.
THE DAYS OPERATIONS IN BONDS.