New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-21
sDecllne from opening.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market was irregular with the
greater part Of the days transactions made up
Of professional dealings. There was little buy
Ing for the account Of the so-called public, but
evidence was not lacking of quiet demand on
all recessions from the market interests who ex-
pect TO sell their holdings at materially higher
prices than those now current. 1t is this class
Of buyers that hold the stock when the public
is ready TO buy. While the share department
was comparatively inactive, the bond market
reflected good demand from investors and
rich spectators and In its broadening ten
dency and advancing prices 1t seemed to fore
shadow a similar movement in stocks. An ac-
tive bond market Is generally followed by an
active stock market. and in the present instance
there is every reason to believe that precedent
will be carefully carried out.
The market exhibited firm undertone
throughout the day. Frequent efforts TO de-
press values made little impression upon actual
holders Of stocks and in the afternoon decline
excellent buying was noted. Traders endeav-
ored to induce liquidation on the strength OF
further crop damage reports, but after short
period OF weakness the general list recovered,
and at the close a rally was under way. Crop
reports received by many Wall Street houses
Chat are not interested in lower values) show
better situation in the agricultural district than
Chicago news advices reflect, ana TWO Well
known commission firms advised their custom
ers yesterday to buy the railroad stocks on ac-
count Of the receipt of private dispatches which
given out TO the public have been grossly exag-
gerated and practically circulated for effect upon
prices. People who sell their good railway
stocks on bear scares will find ready buyers.
And people who believe that conditions govern
ing the actual worth of securities are not NOV
ing in the direction Of higher market values
will have many uneasy moments before the year
Is over IT, as a result of their convictions, they
assume the short side Of the stock market. Rail-
road stocks are being bought by conservative
men to hold for investments and speculative
profits Buying Of good industrial issues comes
from the same source. and when a pronounced
bull movement sets in 1t will be found that the
day Of bargain prices has gone by.
The coal stocks again were well taken, and
the railroad list in general while dull, showed
little disposition TO sell lower. Some OF the in
dustrials were sold down, particularly Conti-
mental Tobacco and Sugar Refining The last
named however. recovered its loss before the
close ending the day at a small net gain.
American Smelling stock was dealt In for the
first time. and after some Of the weak holders
who bought il on the curb" had been shaken
out the price began to advance under the infiu-
ence Of good buying. Friends of this stock are
optimistic over its future. Efforts are being
made in certain quarters Of the Street to create
an impression that no dividend will be paid this
year on Cleveland. Cincinnati, Chicago and st.
Louis. From information at hand there is every
reason 10 make the statement that the stock
will begin to make return TO its holders in the
coming summer. II is known that w. X. Van
derbilt is devoting considerable time to the az
fairs OF this company and II Is understood
that he is most favorably impressed with its
future People who are buying the common
stock doing the expectation Of a divi-
dend. 1t reported at the close of business
yesterday that several large orders for Mexican
Central were in the hands Of important COM
mission-houses 10 execute CLOSE" TO the mar
ket