New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-11-29
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market trading moderately active
but transactions were not we'll distributed. After
some hesitation at the opening prices became
strong and ruled so throughout the day. Final
changes showed substantial net gains in the
greater number of issues, while elsewhere
smaller advances were generally shown. The
tendency 10 advance few stocks at time was
again pronounced II this method Is to con-
time II will take many weeks before all stocks
will sell at the level 10 which they are entitled
by actual worth, but the chances are that the
present market OF specialties will soon give way
10 broad speculation based upon easier money
and business conditions Such speculation
may not develop until the first Of the year. The
money market situation is not sufficiently clear
10 Justify an active public buying movement
at the moment. but the outlook is promising
enough to warrant the suggestion that well pro
tected stocks are not sale at ruling prices.
The Industrial stocks doubtless will supply
good part Of the future activity in the securities
market Already efforts are being made TO put
the stocks Of the new industrial concerns higher,
while the stocks Of the older companies, such
as American Cotton OIL. United States Rubber,
General Electric, Peoples Gas and Sugar Re
filming being absorbed by a good class Of
buyers on their dividend return II is Just as
we'll to bear in mind that there are good indus
trial stocks and bad industrial stocks. and that
there are many holders Of both classes who
extremely anxious TO let some one else have
their possessions at top prices. Discrimination
and caution should be exercised in the pur-
chases of Industrial issues but the good indus
trials should not be condemned because of the
loss provoking movements in stocks such as
Leather common. well managed Industrial
company ought to be as safe a channel for the
and It will be found upon examination that the
records Of the we'll established industrial
porations In the matter Of solvency and divi-
dends have been good the records Of large
railway corporations have been in the same par
ticulars.
II a stock has merit II will stand on that merit,
seeking the level warranted by dividend re-
turns or prospects OF dividends. Temporary in
fuences check at times the natural movement OF
stocks. but In the long market values reach
the price that is proper measure Of intrinsic
worth. OF the new industrial securities Federal
Steel continues to attract attention. because Of
the known earning power Of the company and
the fact that this earning power is based
upon one of the greatest and most profitable
businesses in the country. The company's COM
mon stock will begin to pay dividends at the
rate Of 5 per cent year in January. American
Lnseed securities are being taken out of the
market because the company is ably managed
end is enjoying a profitable business. American
Cotton oil is held by strong interests for rea-
sons similar TO those noted IN the case Of Lin
seed securities while the same may be said Of
Peoples Gas, United States Rubber, American
Steel Hoop and Pressed Steel Car. Buying Of
standard shares feature in yesterday s
market. especially in Pennsylvania and New
York Central. Good buying of Baltimore and
Ohio issues. Union Pacific, Chesapeake and Ohio
and Southern Pacific was noted