New-York tribune., 1899-02-02
BONDS
THE DAYS OPERATIONS IN STOCKS.

The stock market was again Irregular. re-
fecting continued realizing and bear pressure
and renewed buying for rise by people VINO
do not believe that a material decline be
brought about under prevailing favorable busi-
ness and money market conditions Lower
prices In London encouraged further bear at
tacks at the opening. but with minor exceptions
declines Insignificant. While IN the after-
noon advances were made throughout the list
II all the public holders Of stocks should decide
20 liquidate sales for the short account would
be profitable But public operators show no
disposition to part with their holdings and with
the exception Of speculative proft-takng and
reduction in some instances Of heavier loads
than operators can safely carry there is little
reason 10 expect general selling movement at
present There is absolutely no inducement to
sell stocks In the old days'-a few years ago
when investors were gradually getting out OF
stocks." bear traders could well expect success
from their efforts Times are different now.
Investors have bought securities TO hold, and
there is every reason to believe that they will
continue to buy until the floating supply Of
high-class seues has dwindled 70 small proper
tons.
In the early dealings the selling pressure was
pronounced for a short time only. Good buying
appeared on the decline, and in some stocks, in
advances were recorded. Manhattan enjoyed a
net gain Of over per cent on further reports
about electrical equipment, and Texas and Pa
cihc also Of the Gould group. advanced in sym
pathy with the bonds. which were strong in
buying induced by the well-credited report that
the company is to place the income issues IN
the interest-paying column this year Denver
and Rio Grande stocks were strong features on
good buying: also Atchison preferred and the
so-called Flower stocks in general. Pan Han
die" which closed seven-eighths of point high
er is being quietly absorbed AZ its current price
and its friends promise a more advanced level
before many days go by. Pan Handle has
merit Any road controlled by the great Penn
sylvania system can stand all kinds of bear pres
sure in the stock market without losing its value
or it's friends 1t is a poor time 10 hammer the
stocks OF the great railroads of great and
prosperous country.
Northern Pacific common is being bought by
people whose information regarding the divi-
dend policy Of he company is Of the best The
controlling interests in Northern Pacific affairs
favor another distribution upon the common
stock and il is practically certain that the
shareholders will receive a second dividend at
no distant time and that the payments for the
year will amount 70 per cent The company
IS earning more than per cen6 on It's common
stock, and the majority or the directors oFIleNe
that the shareholders are entitled to per cent
quarterly on their securities. The Northern
and Union Pacific issues are attractive invest
fnents and from speculative point of view they
possess great possibilities for buyers at the cur
rent level The market closed strong and ac-
tive. The advance in sterling exchange in the
last two days has been due to an increased de
rnand for remittance incident to the heavy sales
Of securities in this market for European ac-
count