New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-09
Tile DAYS OPERATIONS IN STOCKS.

The stock market was weak in the morning
- hear pressure and sales by timid holders
IN tho afternoon a better tone prevailed. with
,os, nrjces AZ only small changes from Thurs-
DAY
wall street IS apparently waiting for war
e. South Africa Some Wall street traders
o-o nc nervous as they were at the time Of the
Spanish American war clouds more than year
sco and evidently believe that new war in
CIV mart Of the world viii knock down the
.o.rai ,-alue ~ stocks other traders are
~ei.ber nervous over the war clouds nor are
they Worrying over the effect Of A TransNaal
FIGHT uron the real worth Of our securities. al
though for the sake Of appearances and incl
dao1auv In The interest ~ their Dockethooks they
feign uneasiness over tho situation and advise
the sale of securities Traders who intend 10
sol their securities should bear in mind that
when war Was declared between the United
States and Spain. stock values after few days
% hesitation gradually began TO advance.
II Kar- mining stocks (Which are We'll held
y, investors end ON strong margins should
break would American railway earnings fall
off, Fnelard's securities. excepting Kafflrs,
would not deprociate in intrinsic worth any
more than local securities did when this coun-
II. was At war with Spain People who are
afraid ~ hohgobns would better sell their
stocks at once. England wants something in
The Transvaal and # VIII get II either by force
or IN, DIPLOMACY. The chief effect Of war In
south Africa VIII he 10 check the production OF
gold for time: hut il is not likely that me
conflict would last long enough to work actual
trinr, IN tho foreign financial situation. The
Tinted states does not depend upon the Trans
wal mines for its gold. and war between Eng
land and the Transvaal will serve to stimulate
to greater extent our present heavy agr-
cultural export movement There was no ava
lanche OF stocks I'm yesterdays market. A Few
+inid holders sold. and bear traders worked in
dustriouslv to create fear on the part Of the
urhHc and uneasness among the substanual
interests The last named showed their con-
fdence in the situation by adding TO their hold
incs. while the bears had the pleasure or
revealing in fractional declines for brief period
Tho greater number of people who hold stocks
are intelligent. and therefore know that It VIII
take something more than a foreign war TO
check American prosperity And the holders OF
stoc,s are nrettv well convinced that a more
active money market viii not cause liquidation
because higher rates for money will attract cur
rencv this way in the shape Of gold imports
from Europe In two months money will begin
70 return to this city. and by the lst Of Janu-
ery rates should be low enough TO satisfy every
body. Present owners Of securities VIII take
rroats no doubt # the market should run into
hull fever this fall but they are content &c
wait for January boom II necessary. The
short side Of stocks may be good FOR quick
turns. but not FOR long pull. If prices decline
on actual war IN South Africa big" men vii
Increase their holdings. The market CLOSED
irregular and dull