New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-11-30
SIX dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market was Irregular. owing TO
realizing sales and the closing of contracts incl
dent TO the holiday TRANSACTIONS were ho'
large except in few issues. where speclai III
Auences appeared TO be at work. but as d RUE
prices were higher, with small net gains III the
greater number OF issues at the close lear
~ Further money market trouble before the year
&c over has become pronounced in the last rev
days although securities prices do not renec' IT,
Perhaps sensible realization OF the posiuoh
of the money market and the demands tha' VIII
be made upon it later on in December VIII pre-
vent the trouble that some people now rear IL
speculation remains quiet there VIII be no lur-
,ber money market disturbance. Passing fuc-
tuations may occur. when a call Is mace TOT 'he
money that will be paid out in January interest
ord dividend disbursements, but there Will he
nm trouble If bank loans are not overwhelmed
Of nresent and stock speculation is not allowed
IN run wild II the money market is not called
unon IN finance big bull speculation IN De-
cerober II will be in splendid condition IN Janu-
arv to furnish an outlet for all the Dull en-
thusiasm now developing.
interests identified with the more important
railway and industrial companies are larger
holders of the securities Of the respective com
panies, and these interests are too well satisheu
with the industrial outlook to part with their
nossession Purely speculative operators whose
dealings at times are sufficiently powerful 10
control the market. are holders OF sooo s'ocK
which they intend to sell to the pubic on the
crest of the next bull movement And they are
also accommodating stocks Of doubtful merit 10
neddle to the public at an opportune time. 1he
real owners Of stocks are such large holders OF
the various good securities dealt In on the STOCK
Exchange that the floating supply available LOT
speculative purposes is comparatively sHali'
and as a consequence an extended speculative
decline is out of the question just at present
unless the legitimate owners of stocks should
suddenly decide to part with their possessions
Conservative holders OF stocks and bonds are
not likely 10 sell at time when conditions IN
the industrial world daily adding increased
value TO investment securities Small marginal
traders may lose their money in the midst OF
their enthusiasm. owing 10 the operations Oh
professional SPECTATORS VINO are constantly ny
on the lookout for weak holdings, but the greater
number Of current holders are too well protected
TO bother about temporary bear success
The so-called Vanderbilt Pennsylvanla agree
rnent. which has frequently been mentioned IN
The Tribune, has evidently been discounted IN
the stock market. as further reports put OUT
Yesterday appeared TO be a signal for heaVy
selling of the securities Of the properties con-
cerned Vanderbilt and Pennsylvania interests
doubtless decided a long time ago to work IN
harmony for the restoration OF rates, ana II
canitalists identified with either the Pennsyl-
yania or the New-York Central have acquired
q controlling voice in Baltimore and Ohic
through stock ownership the result Will be OF
benefit 70 all holders of American railroad secu
rites The concentration Of control spirit Is
abroad in the railway world. and one OF the
chief objects in view is the maintenance or rate!
,,non a money making basis. slight advance
in rates means much to stockholders, and th'
fact that the more powerful interests in Amer
can railroads are devoting their best EFFORTS L
maintain rates on a stable basis should carr!
great encouragement to all investors and opera
tors in stock.