New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-27
BONDS.
THE DAYS OPERATIONS IN STOCKS

The stock market was strong and moderately
active Commission houses bought for out OF
town clients. and the trading element was gen
orally on the bull side Of speculation The an
sence Of unfavorable South African war news
and tho comparative ease OF the money mar
ket created a cheerful sentiment in speculative
circlae while they doubtless attracted consid-
o,oblo buving for an advance. The market was
without the influence Of foreign dealings, owing
N tho holiday abroad. In many OF the more
active issue- sharp advances were made. and
&C rule were maintained until the close. a
nassing bear attack in the early dealings ana
late realizing having no extensive effect upon
values The better class Of industries ana many
Of the cheap railroad stocks were In good de-
mand from a substantial class Of buyers. while
the high priced issues were not neglected, stocks
such as Burlington and st. Paul furnishing
fair proportion Of the dealings
II Is estimated that January interest and div1-
dend disbursements in this city will amount to
upward Of 650oO0O0 The payment Of this
vast sum under normal money market condi-
TONS would not involve serious disturbance In
the stock market and there is no certainty that
under present conditions It will cause any
trouble in either the money or stock market.
ARRANGEMENTS for meeting these payments have
been going on for considerable period ana
while further calling of loans doubtless will he
necessary the technical strength OF the stock
market and the money market has been so
much improved by recent liquidation that dis
turbance incident 10 the January disbursements
should be reduced 10 a minimum. The calling
and readiustment Of loans may AFFECT light
marginal traders for a time and bring disap-
nointnent In the enthusiastic trader who ex-
meets 10 see a bull movement start promptly at
10 o'clock on January 2 It may he recalled that
In the first week in January year ago the
stock market was sagging and disappointing
affair an1 that the bull movement did not ma
terjaIize until the second week OF the month.
Conditions in Wall Street are somewhat different
70 what they were year ago. Many important
interests have been severely hurt as result OF
the recent crash in values, and money Is not IN
the same abundant supply that It was last year
The business outlook however is more favor
able than It was in January, 1899, and the pub
lie is richer than It has ever been before.
Men in commercial pursuits have made money
this year. and when their books are balanced
they will find a comfortable surplus over ard
above expenses and usual profits. II is likely
that some OF this Surplus will find It's way into
Wall Street and that the next bull market VIII
be supported more by straight public buying
than by cliQues and pools. The public was not
particularly hurt in the recent market panic.
Speculative pools. rich men overloaded with
poor industrials which the public would not
buy. and professional traders were the heaviest
sufferers Many men who have been crippled
have enough money left to try again and the
chances are that they will endeavor to retrieve
their losses in the January market. For the
rest Of the current month marginal traders may
find more pleasure in watching the market than
I'm buying IT. but on any decline conservative
traders will doubtless be willing buyers. The
outlook is attractive for people who can buy
stocks and pay for them.