New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-26
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market made a speedy recovery yes
terday from Tuesdays sharp decline. and again
On an enormous volume OF business, moved
toward q higher level IN the greater part or the
CAV. LONDON bought stocks in this market
nomnission-houses received heavy orders to buy
AZ the opening. and important speculative IN
terests were cons picuous on the long sac
Coura geous but foolish bears who sold snort
me day before were forced to cover their con-
tracts at advancing prices while the operators
giro hoped 70 he able TO buy stocks at lower
points than Tuesdays low level were disap-
no,pted in almost every instance. 1t is poor
market 10 sell short" and this statement Will
hold good until money rates show signs OF dis
turbance or some untoward development arises
The high-priced issues were active features. but
,noono the cheaper grade OF stocks evidence
MA not wanting Of a growing disposition among
So.od buyers 10 put their money into promising
tssues Ike Ontario and Western, Pacihc Mall
Chicago Great Western. St Louis ano san
Francisco, Tennessee Coal and Iron, Chesapeake
and Ohio and Cleveland, Cincinnati chicago
I'D Ct T.ouis. The so-called Flower stocks were
,n excellent demand. especially Peoples Gas
and Federal Steel common and preferred
wau Street continues TO assert its belief IN
New-York entral-Northwest-union faclnc
d,al. as reflected in advancing prices TOT the
,scues OF the companies concerned New-fofh
r,av+ral made a maximum gain Of % points ana
rnion Pacific preferred S1s points, the last
nam ed stock being one OF the most active feat-
ures on the list, Irrespective Of the BENEFITS 70
he gained by q consolidation with Newly ork
rentral Union Pacific is q most valuable prop
erty. and its preferred stock and bonds have
heen heavily bought by investors In the last two
.,eekz While officers Of the companies deny
that there is 10 be q further Vanderbilt con-
soiidatiou certain banking interests In the
street who are we'll informed and who have no
reason 70 make misleading statements. say that
negotiations have been pending for some time
hooking 70 the transfer Of Union Pacific and
Chicago and Northwestern stock to the New
York Central company on basis similar to that
involved In the New-York Central-Lake Shore
deal II may be recalled that prior 70 the or
6cial announcement of the last-named transac-
zion vigorous denials were made by the inter-
ested parties that such consolidation was I'M
der wav II was also reported in Wall Street
yesterday that the Vsnderbilts would secure
control OF the Lake Erie and Western. and that
the pending Chicago ana Alton deal would soon
be made public. The buying OF the vanderbilt
stocks was extensive and the advances were
large especially IN Big Four" which gained
over points.
The prominent interests that are directly con-
nected with Peoples Gas and Federal Steel Sc
curities are confident thai the shorts in these
stocks are In a most dangerous position. And
the same consideration can be applied TO ABOUT
every good stock on the list In the last hour
prices reacted insignificant fractions from the
best figures OF the day, but the close was strong
and buoyant Total sales. 1146161 shares.
against 1870 500 on Tuesday.