New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-06-29
BONDS.
THE DAYS OPERATIONS IN STOCKS

nho .+ocu market is enjoying a small sized
So, that NAV run into an active bull move
,nent in July. II an important upward fhoVe-
rnent does not take place this summer the more
substantial market interests will be grea'iy
surprised for, according 10 their plahs' "iiio"
are based upon conditions affecting the ac'uai
worth Of securities. an apprecape increase III
,oarket vaIues cannot be avoided. few pessi-
,nistic onerators who fail to grasp the true
meaning Of the countrys industrial positioh arc
convinced that prices will work lower out II Is
M, likely that the market operations or these
.radere will he of sufficient importance 10 offset
.ha rov,srful influence Of the Vanderbilts, the
Flowers. the Standard Oil people and otner
wealthy individual and corporate wall street
interests London appears TO be satisneo 'ha'
American securities will reach much higher
,a,,e, this summer. than that now ruling. as re-
Aected in the current heavy buying for the
foreign account o
Jondon houses took upward Of 5oVp shares
yesterday making an aggregate OF loU'V"
shares in the last three days. Louisville ana
Nashville was in active demand for the Euro
man account while all Of the international is
eres were freely bought. London SPECTATORS
never fail to buy when prices are down. anu
seIl when prices are up. Local operators VINO
are nov selling stocks short might well follow
I,ondon's method of trading. This system Is
employed by the big market interests VINO at
present hold the greater part or the noa'ins
supply of stocks, and II intending fortune
makers IN Wall Street adopt the system at
once with large margins they are not likely 10
he among the bankrupts at the end OF the sum
mer season All Of the railroad stocks were
well taken yesterday. and the volume OF busl-
ness showed further well-distributed expah-
sion Early prices were the best or the gay
hut subsequent realizing and bear pressure did
not prevent a long list OF net advances AT lne
close Manhattan and Metropolitan were espe-
c,anv strong. Louisville and Nashville. as re-
Gently mentioned in this column will probably
increase its dividend rate in July, or before the
end OF the year. and It is owing in part TO TINS
expectation that the stock is being actively
bought 1t is rumored in well-informed circles
that at no remote period there will he de-
velopment in Louisville and Nashville affairs
OF the greatest importance to the company''
stockholders.
A decided reaction in sterling exchange con
tributed to the days active advancing stock
market At the current rate Of exchange for
eign bankers must offer great inducements II
order to secure gold in this market. and the
decline in foreign discounts since the first o
the week seems to indicate that the situation
abroad is not so serious that American golt
shipments will be encouraged at prevailing ster
ling quotations. Further heavy gold exports d.
not appear probable. Current foreign buyint
OF American securities, while in great par
speculative. serves to depress the foreign ex
change market. and the increasing trade bal
ance in this cOuntry's favor will eventually re-
suit in gold shipments from Europe 10 The
United States.