New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-11-22
'Ex dividend
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The prospects for easier money are or1eht' ou'
they are not so bright as spectators WouIu liAe
them TO be. This, however, is sTnaH "d''ei
that will not depress the actual value OF secu-
rifles although traders may endeavor 10 manu-
facture bear sentiment because money ooes NOT
drop at once to per cent. The pubic was ho'
a factor in Yesterdays market 1t q fortunate
that the outsiders not rushing into specu-
lation with money reserves at the current ~"
ebb but this good sense should not De coii-
s,-ued ss an indication OF loss of confidence in
tho situation or forecast Of liquidation Peo-
ME who hold stocks on big margins are content
10 wait for higher prices. Substantial market
interests add to their holdings on reactions and
investors with ready capital buy on all favor
sbla onnortunities Later on In the year the
,ubuc sneculator doubtless will come into the
market. and unless all indications fail market
values will be carried to a level more in proper
ton TO the level OF intrinsic worth
The stock market was irregular and dull IN
the early dealings on a small volume of bust
ness Subsequently shorts began TO cover ana
this together with support in certain sections
of the market where heaviness was noted in
the morning. caused higher prices throughout
the list Toward the close prices reacted again.
and final changes showed more net losses than
gains In bonds there was good demand wei
distributed among the issues that are seilhe
under and slightly above par. The inquiry for
bonds has been moderately heavy for the last
two weeks and the chances favor an active BUY
ing movement in the res. Of the month and IN
December. Bonds are usually active in Decem-
her in anticipation of January disbursements,
and there is more reason than ever this year 10
expect heavy purchases from now on. The
bond market is certainly fitted with attractive
opportunities in the Issues selling under par
and IL is natural TO assume that with freer
movement of money bond values Will appreciate
in market worth. The cheap bonds and the
cheap stocks promise to become popular. An
instance Of the necessary favor with which
the low priced issues regarded was fur
nished Yesterday by Northern American stock.
which was one OF the most active securities
dealt in.
London financial papers believe that move
nent Of gold TO the United States is a matter
OF time only. They agree that the trade bal
ance in favor of this country IS heavy. and that
obligations are increasing through the pur-
chase Of American securities. Gold may not
move this way until the settlement Of the Trans
wall war; but the fact remains that Europe is
steadily growing more in this country's debt,
while it's ability to lquidate its obligations by
the sales Of securities is no longer great enough
materially to change the credit balance. II
local financial institutions should decide to buy
British consols. German IS and other foreign
issues in order to have securities that could be
sold abroad TO prevent gold exports from here
at any time in the future. the chances Of gold
imports would be lessened Call money VI
TO u per cent yesterday afternoon.