New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-02-04
BONDS
TIE DAYS OPERATIONS IN LOCKS.


II the greater part of the day the stock mar
Re' was weak and reaCtiorary under the lnf1u-
o.. = realizing sales and bear pressure. Many
iss~es made maximum declines Of above per
cen. ard until the last hour the general market
presented a far from reassuring appearance TO
the small traders Of small margins. In the
final dealings. however. a recovery set in
throurhou. the list. in consequence Of which
the greater number of active issues showed
small net gains for the day. a midday break
was accompanied by unfavorable Washington
advices regarding the chances 4 the passage OF
the Peace Treaty Bear traders accordingly at
tempted to brighten tirid holders into selling
but with the exception Of the liCht-Waisted
marginal operators and people who considered
II wise 10 take profits in the expectation ~ re-
covering al lower prices. there was no extensive
LIQUIDATION On the decline the buying came
from substantial market interests. AS conse-
ouence Of the days business stocks are now
more strongly ntrenched in the hands Of wealthy
operators. who are buying on every recession IN
order to accumulate new line Of securities TO
hold for higher quotations that must invariably
follow the current period IF reaction An in
stance Of this sort Of buying was reflected in
Atchison preferred In which there were heavy
orders for lower Broadway interests on every
wealth runs into the millions buying stocks
there need be no fear of a protracted season Of
declining values.
II the Peace Treaty should fail pass on
Monday the stock market would doubtless he
subjected TO a selling pressure from the profess
sional traders and small commission-house Gus
toners And If this 70 pass the strong
men will be heavy buyers II looked Yesterday
as IL the Washington reports received in Wall
Street were manufactured in great part for the
benefit ~ certain people who want to buy stocks
at lower prices for the demand
apparently satisfied for the time values began
10 recover. while the latest reports said that
the Peace Treaty might receive the requisite
number Of votes after all. In days Of reaction
two factors should especially be borne in mind.
namely. the ease Of mOney-market conditions
and The constantly expanding volume Of indus
trial activity II holders Of securities remem-
Der the actual worth Of their possessions they
need not concern themselves over temporary
declines and pessimistic utterances from hear
traders.
The buying Of Atchison preferred Northern
Pacific common Union Pacific preferred and
some Of the cheaper issues. like Chicago Great
Western, St. Louis and San Francisco common
and Wabash preferred. excellent in char
acter In the industrials Peoples Gas and
United States Rubber were well taken on the
decline. The people who sell these stocks short
will make a mistake. Peoples Gas. paying
per cent is cheap at its present level: and
Rubber common which will be put upon divi-
dend basis probably 4 per cent this spring is
moi dear at It's current price The rubber bust
ness has been good this year. and Rubber stock
should sell well above so The rally was led by
New York Central. and in all the standard
issues the effect OF substantial support was ap-
parent The close was strong on an increasing
scale OF activity.