New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-06
THE DAYS OPERATIONS n STOCKS

-r~af-e- ir stocks was light. but the volume or
tus,roes was we'll distributed while prices as a
,.uiA were firm al small final changes. l"'
course ~ the market in the last few days sus
costs the belief that liquidation has run IFS
,onrso that the highest rates for money nave
-, seen and that the last reliance Of the bear
ele-nenr rs rapidly losing its force AS an ei'e''N
market influence II liquidation Is over NIUE
stands IN the way Of higher prices j No S''''
interest undouhtcdlN is large. stocks are '''
.oi,,,, -, strong hands and buyers on the re-
rent decline are not disposed 10 sell al loss.
c,.cl,s were bought on decline incident To
49,. market conditions and D. is reaSonah' W
assume that the buyers VIII npt Ia't " D." 80
weddings unless there should arise some deNol"po
,nent affecting actual values. II the Iasl C@i" '
- Iear marty has been played, what WI" r.'
vent y gradually rising market inc Dun !ldu
will answer that there is nothing "nlt II"
Nesr trader Will say that fear on ihe pa "'
-,,il,c raiders that prices Will go lower hetore
they go higher election uncertalhues anu iI
tg1 ,,olitical uncertainties viii keep the punhc
out of speculation, and IN consequence ''''' an
be no active bull market ,
The contention Of the bear may prove L" "'
correct as far as an active publlc "uyt"S l''.
,oent is concerned. but If the bear Will take 'ne
cohv,ohs from his memory he viii ma mat nu"
markets have generally started without VIC
public and that the public seldom il ever ''ivS
{rto the market until the bull movement IS Wen
on its WAY The public may not come INTO inns
market until after the fall elections or uliu ''c
Teturn flow Of money 10 this centre Stt9 i.i' ',.,
,neanvhile with liquidation at an END ana WIN
stocks in strong hands. the market may Sla
,,alI,- work higher SO that when the pubic docs
1egir it's operations IL viii buy its stocks from
4nterests who are now accommodating S'CuIl 'S
an exnectatiOn of good outside Sleculdl we u'-
,oand The situation is interesting TO the peO-
80 ubo are willing to believe that all the so
called uncertainties have been discounted by tHe
recent fall in values the bull side OF the market
Sc attractive And then back OF their nelleI ina.
re uncertainties have been adequately rehtcleu
~ values lies the supporting influence OF ouSl
ness prosperity. In addition. ule 'eCnliiNa' 70
,ion Of the market appeals 10 the operator foI p
-ise Pessirnists on stocks assert that values are
TOO high and that prosperity among Inc TAI
GODS has about run its course. but Z is 10 DE
noted that legitimate holders are not selilhs
sheir investments because Of this Walllns.
Compared with the present price OF money O "e
market value Of some securities is out oI pro
Y,orfion TO their investment yield. but these
stocks do not make up the market Ana il is liil
Drobahlo that they will be the prominent
features Of coming bull activity Inc AZ
srecttvc issues that have been seulng un
'sssues Northern Pacific issues. AtChison pre-
ssrre6 Southern Railway preferred. NorIolk ana
Western issues and Louisville and NaShNue' are
,ileiv 10 furnish the nucleus or ACTIVITY lh lhe
raYroad stocks. In yesterdays market LoulSNliIe
and Nashville. Union Paclhc preferred an"
Northern Pacific preferred We're III GOO w,
,,and In the industrial list Federal steel issues
and PEOPLES Gas should advance on their mer
,tts These stocks are many points below theI
highest prices Of the year. and they are being
1al<an al the current level 10y a good class ~
l,uvers The whole list is selling well under the
wears TOP prices. and. I'm view of the factors
that are steadily increasing actual worth the
greater number Of issues are attractive bargains
for neonlc who can AFFORD To hold stocks through
1ineXu-cfcd SCI backs