New-York tribune., 1899-02-13
vrr,,s : OPERATIONS N STOCKS.

u.rr6.S OPERATIONS N STOCKS.
.....,.,. reaction that has taken place
IF ..,,~..ios markets and TO a small extent
:. various other markets. such aS "" ''',
Cor-or exchanges. has naturally I'M
,.a the market situation. "hle ""'
-. ,,,r~ent business expansion weak
.,,o,ors have been shaken cut "i s'oONS'
e., interests own the greater number % Sc
..,.,as and values are or leFr. Hoi" "'l0"
t,.,s, rrices will ultimately base theh start
- ra,,,rfs from an over the country sho" an
1aaroous volume Of business IN almost every
to- ~ industry The country exports Oh 'ne'-
die. Continue 20 exceed imports by heaNN
60. railroad earnings are constantly I'M
,-oynr and bank clesrines expanding. Inc
80, market is easy Gold arrives weekly
,roro Australia and despite excessive foreign
,ouiaation OF Anercan-held securities The pal
orce NJ -rado I'm this country favor Is large
and growing bigger every day Railroads are
,ncrsasinc their dividends and companies that
have long been out of the dividend column are
crsdual,, returning 20 it stronger in physical
and financial condition than ever before IN thef
bis.orv The actual worth of securities Is IN
,~essine dcspiie bes~ manipulation hghtins IN
,hs phufppines. foreign selling Of these securi-
,ies and Official announcements IN Washington
NJ The. extent ~ the probable National Treas
.~, deficit for the vear No one expected that
o. VA, would produce surplus al The end of the
,.ar and no one is alarmed over the Treasury S
prospect The country is rich enough 10 take
care of its Treasury
Money conditions are unique Look al the po-
,,,ion of domestic exchange at Chicago. for in
.tance Nev-York exchange a that centre COM
,uapds premium Of ~ cents on 81 O1O. against
discount Of 30 cents year ago. Now. this re-
feots the fac, that there IS great pressure to
send lendsble funds 20 this city, and tina, it will
continue for A long time TO come. barring. of
course some unforeseen occurrence Reports
from The interior show that rural communities
sYe enjoying a condition of financial independ-
ence while suggesting the probability Of very
light shipments of money from here TO meet tht
requirements Of the spring trade. The position of
the country IN respect 10 its financial relations
with Europe IS as favorable as the domestic sit
uson adequate evidence Of which was afforded
IN the January bull stock market in the course
Of which the supply of local funds was sufficient
70 meet all demands. while at the same time
local bankers We're lending surplus capital
abroad The recent selling by foreigners OF
American securities compelled temporary
pause in advances TO Europe. and made il neces-
sary To empl0, our foreign credits IN settlement
Of these sales a process 80 effective that the
rates for sterling exchange advanced less than !
per cent The weekly bank statement showed
again substantial increase in loans. doubtless
Isfecing the end Of the movement involving
a European liquidation Of securities The
.N
'anees IN the stock market
The decline In stocks from the high level
reached IN January has been considerab BILE, and.
according 20 the opinion of good Judges all that
sehncs conditions warrant This seemed u
Be proved by the action Of the market on
Wednesday when after a sharp setback good
buying appear-i and liquidstion ceased. the
smaller interests having apparently cleared out
heif accounts IN many cases at losses, while
NE Niger men became the owners Of stocks
recently held by the weaker class Of pubic
Uaoers Individual opinion about the posi-
oNil! Of further decline should guide intelli-
GENT Operators in the immediate market. II
purchases made al this level should for time
$40" loss, II would be far better 10 hold on
'"h good margins than 10 sell out on de-
h'hs market. for unless general business ana
""sheial conditions move contrary to all indi-
'"uohs the highest prices Of the year have
NV Jet been ,eached. Irreguarity may pre-
'n Il" while Jut IT is generally believed that
sun activity will Doe resumed at no distant time,
NH mai price fluctuations VIII not carry values
N'snaliy below The current level The follow
10 ~Ae shows the extent If the decline from
~ Hyn prices % January 10 the low quotations
.4e 9h Wednesday and the recovery at the
~N " The week .u a number Of active issues.
RAILROAD STO-Ks