New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-28
BONDS
TIVE DAYS OPERATIONS II STOCKS.

7.,s fnovernent OF money into stocks ana
bonds vas again heavy yesterday. athough 'he
actus' volume ~ business was CONSIDERABLY less
thar the enormous transactions In THURSDAY
market A few professional traders endeaNo'eu
70 depress prices on the denial OF the "-i"'N
,..,,r,i consolidation story. hut with only minor
executions The general list held hrm until the
lss. noun. when proht-taking sales ana pear
pressure carried quotations for the greater mum
b4r = issues under the preceding Gay CLOSING
There was no evidence however OF important
outside liquidation. while the demand from ne"
huvers sod-oui bulls and substantial market
interests furnished further evidence ~ the Well
founded belief that the bull speculation has not
Vet run its course Mann conservative brokers
who week ago thought the TOP level had been
resohao now confess their mistake and are
willing 10 assert as their opinion that there can
ho no material W lasting setback in values a.
long as money remains such a drug on the
msrke, The bank statement foi the week
promises 10 show d further addition to the cash
and surplus holdings. and u is not likely despite
the heavy speculation IN the last te" DAYS 'ha'
the loan item will exhibit large increase as
compared with a week ago The heavy in
vestment buying buying Of stocks outright with
individual capital 70 hold for higher prices, ana
the orderly nature If current speculation seem
10 preclude the possibility Of undue loan ex-
panson by the banks
Renewed interest IA the so-called Flower
stocks Of which Peoples Gas and Federal steel
securities were prominent features, encouraged
good commission house buying in these issues.
while inducing the belief that pronounced up
ward movement in this group would soon he
under wav BUYING Of the Southwestern Rail
road stocks was again heavy and predictions Of
rnuch higher quotations were made for 81 Louis
and San Francisco and 81 Louis Southwestern
securities Union Pacific did not sell off 20 any
extent As a result of the official denial that the
road would be consolidated with the New-York
Central but the last-named companys stock
was adversely affected Dealings in the North
ern Pacihcs were upon a liberal scale the
statement OF the Northern Pacific Railway Com
many for the six months ended December 81. re
ceived yesterday. makes a most encouraging
exhibit and gives adequate reason for the cur
rent huyjng Of the roads securities Net earn
ings increased over the same period In 1879
81 Os6 $50 and the total net income after ali
deductions increased S457 1851. the total net
income being for the period s7,eO4,1s0 AT this
rate OF increase in earnings the company will
show for It's fiscal year balance of &0Oo600
IN excess Of the preceding year. and it can
therefore be assumed that the common stock
will receive full per cent dividends
Bear pressure exerted IN the last hour vas
ostensibly based upon the announcement that
en- Independent government had been proclaimed
by the Fiipinos II any one wishes 10 part
with his securities because OF the arrogance or
Aguinado and his army" ready buyers VIII
be found 10 absorb all offerings. The bears GER
tainly need an incentive 10 attack the market
bu, II is hardly reasonable 10 expect that they
can ind in the Philippine situation sufficient
material 70 frfghten the owners Of American
railroad and Industrial securities.