New-York tribune., 1899-03-21
.Ex dividend
rHD DAYS OPERATIONS IN STOCKS.


M, -.raral belief IN financial circles that after
,No ers. - Aprn money VIII begin 10 flow toward
.,ts oentre and. as consequence, depress
-,o,e1, rates 10 the level prevailing IN the Janu-
ny, market is bec1nnins 20 exert an appreciabie
,,Auence upon speculative sentiment Ana the
.oo+ +bat the banks 40 not intend 70 permit ah
,,ra,,a EXPANSION IN their loan account as re-
eac,ed in the bank statements OF the last Two
,.Aels is proving reassuring factor to many
oonservotive people. who have been somewhat
alarmed over the position Of the banking lhsu-
+u-,ons Il IS customary al this time OF ule year
fo- the public 70 re-enter the stock MARKET l."
,,.sterda,.s transactions the public was more In
evidence and prices rapidly responded 70 IT'S
h,,,,ing and 10 the hasty retreat OF thoroughly
,righ.ened short interest The manipulation II
sugar Refining has created speculative oe
,oend FOR the issue. on the theory that ue 'ape
Indicates important Developments IN tha sugar
.~sAa war but as far az be learned there
apnears 10 be absolutely no prospect OF SCI
element. Sugar jumped to $50 yesterday ana
then reacted to 1914 closing at r net loss OF
eigh. points. It Is good stock to leave a''"e'
no matter what It's reported prospects may oe
Sugar stock Is the markets most dangerous
enemy.
- traders would put their faith and money IN
legitimate Investment stocks Instead of II SusHr
~ Tobacco they would come out better in the
end Union Pacific preferred is again attracting
strentlon from foreign and local interests. and
IT, present advance IS doubtless preliminary 10
a steady gain I'm value that will carry its price
10 par before the coming summer is over. The
oonpany's earnings and management are Of o
ohoroc+er 70 warrant tho utmost confidence In
the roads securideS The outburst Of strength
a. the rauiuulated issues did not continue
throughout the day. and IN the general list reac-
,,ors from the best figures were not important
until the last hour, when an advance IN call
money 10 10 per cent caused sharp recessions
throughout. The legitimate banking community
is not favorahly impressed with the vigorous
rnaninulation current in certain stocks, and II ~
not unlikely that ~ the thmbe-riggtng IN sugar
and a few other issues continues the money mar
ket VIII be used 10 bring these operations 70 a
sudden end The rise IN call money yesterday
should have a beneficial effect upon the specu-
lstors who handle such stun as Sugar hennins'
Continental Tobacco and American Tobacco
Continental Tobacco opened al 80, declined to
43 and closed AT 54s,
The announcement OF the practical absorption
of the Rrook'yn Elevated hy the Brooklyn RAPID
Transit systern served to advance the last
named stock e. 10 at the opening against I'5
on Saturday. on good buying from colhiii'9'.'A
houses and important market mlereSls Niii-
csgo has taken lerge amounts or tnls STOCK III
The last two weeks and the advance has beer
established without material buying from The
,,tsrests in control of the company. The so-
called Vanderbilt stocks were strong features
erd the rap,d advance IN NewYork Central and
Union Pacific issues again impressed the stree
,r,4h the belief that some important develop
rnents I'm Vanderbilt affairs are uhleI way
dssni.e recent denisls from the Grend Oeil'Fa
station Jersey Central, Manhattan ItnHeSSe
Coel end Iron and the Northern Paclhc ISSUE
we also strong features ~ maximum advance
of 204 Der cent. but O." the late dechne Ury los
the greater part of the gain. while lAe seieI"
ust closed unsettled. with net changes s'nai
gains in the greater number ~ issues. NolEl'h
standing the days obvious manipulation tAeI'
was considerable good buying and outside @
tie sensational movements IN sampIhK Npe
cialfies there was much In the market 10 reNlI'
encourarernont among the advocates OF a leslt
mate bull campaign.
THE DAYS OPERATIONS n BONDS.
cOvFRNMFNT BONDS Market strong. Ftna