New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-18
RONDS.
THE DAYS OPERATIONS IN STOCKS.

The transactions in yesterdays stock market
rssulted In a complete victory for the advocates
=, higher prices. In many issues advances were
SHARP and striking. while throughout the lis"
with only a few exceptions, net gains were
49,, %. tho close over the preceding days final
figures. Business was heavy and fairly well dis
.r,,,,tsd In Louisville and Nashville, Southern
Pacific. Baltimore and Ohio issues and southern
panwav preferred an aggressive buying move
wan, Was under way IN the course or wnlch
,rononnced price Improvement was made. Inc
.+rens+h Of conditions governing the actual value
y, securities was, Of course the underlying fac
,or IN the advance for upon this factor the larg-
.st owners OF securities based their operations.
The largest owners Of securities are the more
3mportant individual and corporate holders OF
csptai In the country. and their enorts 10 at
tract a good public buying demand now appear
70 be at a stage where It Will not require much
further work TO induce the public TO come into
the market
Commission house buying was IN evidence yes
terday. II the customers of the local commas
sion houses decide TO enter actively INTO specu-
Iatton prices will be carried well above the cur
rent level while the big men will be able 10 as
tribute their holdings 10 better advantage That
the TOD has not yet been reached is rejected IN
the increased activity In the medium and low
priced stocks. At time when conditions are
adding 10 the intrinsic worth Of the cheap
stocks as we'll as 10 the worth OF the high
priced stocks there must be an Improvement IN
The first named commensurate with the gain IN
actual value and this. apparently. is now going
on IN the stocks In question. In the meolum
rriced stocks Louisville and Nashville Balu-
more and Ohio issues. Norfolk and Western pre-
ferred and Southern Railway preferred are ap-
pealing more strongly for popular approval
Louisville and Nashville made high record for
the year yesterday. Buying Of the stocks just
named came from excellent sources. and predlc-
lions were made that Louisville and Nashville
would sell at par before the end of the year
The great progress making In Baltimore and
Ohio affairs IN the direction of dividends natu-
rally recommends the preferred stock as one Of
the cheapest bargains on the list. And the same
may be said OF Southern Railway preferred,
which is on its way toward the 5 per cent divi
dend basis.
In the so called cheap class Of stocks buying
by substantial interests is noted in Southern Pa
ciic, Chicago Great Western. Mexican Central,
Kansas and Texas preferred Missouri Pacific
and many other issues that daily increasing
IN actual value. II is thought that the cheap
coal stocks such Ontario and Western and
Reading issues. will soon begin TO attract specu-
lative attention. The coal trade is in most
satisfactory condition, both as regards prices
and consumption. and 1t is more than likely that
another advance in the udewater rate will be
made this fall. While the country is enjoying
such pronounced prosperity the coal stocks can
not go unnoticed because increased prosperity
means an increased consumption Of coal at
higher prices. and better dividend prospects for
the anthracite producing and carrying com
panies Barring unfavorable developments the
coal stocks and the cheap and medium class
Issues Will sell materially higher before the end
Of the year. The decline IN the Tobacco stocks
yesterday appeared TO be part Of the speculative
programme Of the insiders.
THE DAYS OPERATIONS IN BONDS.