New-York tribune., 1899-01-06
RONDS
THE DAYS OPERATIONS IN STOCKS.

After carly irregularity and small recessions
in the greater number Of stocks the market be
car,s stlorg ard active closing al net gains IN
many Of the more active issues. The announce
n,ent that 81 500 O0o in gold had been engaged
for import 70 this country Influenced the shor's
to cover their contracts. and induced increased
commission house buying. especially among the
one-o-ors who from lack Of Information regard
ing the monetary situation. had held somewhat
sloof from speculation for fear of possible ois-
turbance incident 10 the January DISBURSEMENT
period Call loans have been advanced 10 U per
cen, on TWO occasions within the last week, but
manipulation rather than actual conoi'ions
caysed the upward movement. Money market
cor ditions in this city do not call for gold I'M
ports but the fall in discount rates abroad and
the constantly expanding trade balance IN TINS
countrv's favor practically force importations OF
the precious metel
The industrial stocks furnished a large per-
cAntase Of Yesterdays dealings Federal Steel
Peorle's Gas Tobacco and Sugar were features
Peorle'c Gas gaining especial prominence ana
receiving excellent support from people VINO are
we'll Informed regarding the earning power OF
the company In railway stocks Pan Hanoie
again made big advance and found ne"
friends who appeared TO be well ADVISED regard
ing the future relation of the minority hoioers 10
the Pennsylvania Company. Whether or not the
PENNSYLVANIA secures the outstanding STOCK mat
ters little ar affecting the actual value OF the
minority stock for the simple reason tnat the
PENNSYLVANIA owns the control OF the company
and has nlaced the road in such condition that
dividends are being earned. and douhtless Will
soon be paid. Manhattan made startling ad-
vance on reports that contracts had been made
for changing the motive power 70 electricity. and
General Electric reached par on the theory that
that company would supply the equipment for
Manhattan Brooklyn Rapid Transit advanced
over 1 per cent. The general rallroao hs'
closed with prices at about the best OF the day.
The bank statement issued last Saturday pre-
sented adequate evidence Of the comparatively
Quiet current speculation in stock. Some OBJ
se~ ers assert that speculation has become ram
mt There is however. no proof that specua-
ton has begun 10 strain the resources OF the
banks and until evidence of this sort Is pre-
sented there should lie no fear over the technical
position Of the market Why should there be
q smash In securities values a. the opening Of
a year with a most promising outlook in husi-
ness and financial circles smash would be
possible il business bad. money dear and
the market filed with weak speculative hold
tngs and over-extended long accounts but as
none of these factors are features of the stua-
tion the nnuch-talked- about crumbling OF invest
ment ,aues need not be taken seriously by
evenly balanced people Speculation has been
active but it should be borne in mind that
,hrouehon, the movement there have been fire.
ouent reactions due 10 profit taking sales. and
the shifting of investment interest, and that the
average advance in prices has been small in
comparison with the actual volume Of business
The most conservative men in Wall Street wisely
advise caution on the part Of small traders but
fhev do not hesitate TO express confidence in the
technical position Of the market. while freely
predicting further advances throughout the list
THE DAYS OPERATIONS IN BONDS.
pO\DS strong Final