New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-31
THE DAYS OPERATIONS IN STOCKS.

sr7,a stock market was irregular. but sUO"s
g, +one with net gains general at the close a
=. encouraging outlook In TTansVaal alaHS
-ar.a6 commencement in the London market ana
.n,s IN turn led 20 active buying on the Io0a'
17,.ba,ge fnr the foreign account. The inhu-
e,ca ~ the last named factor upon traders sen
.,,o-+ encouraged general covering OF shorts
=. the open,ng. but later IN the day the tenn
v,o-ar-, absence Of commission house buying IN
taree amounts induced renewed operations Iof
tbe ehort account Declines. however. were III
significant. the chief result Of traders opera
rtons appearing IN rreEularty and dulness II
~,as renorted in some circles that the presence
~ several important financial interests IN the
street would be followed by developments mat
vvoalId have a material bearing upon the VaIue Vi
sec1rities The market, while firm and lh'l"h-
ing toward higher prices. seems TO need some
sort of q stirnulant, such as a big railroad oea''
ror instance IN order to convince bear operators
ms. the short side will not be profitable this
season.
Ruvinc for investment account IS prominent
feature in the present market. Transactions OF
This character make UP good part OF cur
mt trading IN the solid issues. and in conse-
ouence the floating supply Of good dividend
stocks Is becoming smaller every day. ST Paul.
Rock Island Louisville and Nashville. Northern
Pacific preferred. Union Pacific preferred and
Southern Railway preferred are among the IS
sues that are passing into investors boxes
while their market values are gradually rising
In response 20 this kind Of buying and 10 the
demand from spectators who appreciate ad-
vgncng actual worth The establishment OF
Union Pacific preferred upon regular per
cent basis should attract attention 70 the com
mon stock which in another year Will re In the
dividend column. The preferred is now receiv-
fug the maximum dividend allowed. and as the
earnings Of the property are large enough 70
admit Of dividend at once upon the common
the value Of the last named at IT'S ruling level
can readily be appreciated. The Union PACING
now practically owns all the Oregon short Line
stock and II Is In control Of oregon Navigation
II therefore follows that practically all the net
earnings Of the two companies named will ac-
crIe 10 the benefit of Union Pacific stock An
estimate has been made by which # is shown
,KTlat based upon the results FOR the last fiscal
year, the surplus ~ the Union Pacific. the ore
gon Short Line and the oregon Navigation
available for Union Pacific common stock
amounts 10 upward Of per cent. There are
large equities IN Union Pacific common that
ought 10 he seen in higher prices
The folly OF selhhg STOCKS snort WAS i'HeC'eu
yesterday IN the punishment received boy the
shorts IN the so-called Flower stocks. IN sugar
Refining and I'm American Tobacco Capitalists
who are associated with The Flowers are still
the largest holders Of Brooklyn Rapid Transit
Federal Steel. Peoples Gas ana The rest Of the
Flower stocks. and It is not likely hat they will
dispose Of their possessions I'm times Of pros
perity merely because bear traders persist in
selling these issues short. The market interests
that control the stocks named have apparently
begun operations for a rise and until they finish
their work The position Of the shorts VIII NOT be
pleasant. The marke; closed strong at about
xhe best fguIes of The day.
THE DAYS OPERATIONS IN BONDS.