New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-10
BONDS
THE DAYS OPERATIONS IN STOCKS

Transactions in Yesterdays stock market were
heavier than on any dav in the current move
ment reaching 0S9. 761 shares. against $50 ,0i3
shares December %. the best preceding rec
ord since February. 1893 Heavy dealings were
accompanied by advancing prices in some
stocks striking gains being recorded. while
throughout the list substantial rat improve
ment over Saturdays final figures was accom-
pshed Commission houses were heavy buyers.
Thc more important market interests continued
aggressvely bullish. and operators willing to
sell the market Short" were not in evidence
Doubtless large number If people with large
paper profits converted their holdings into cash.
but the greater number If commission house
orders for buyers and. In many instances
for accounts attracted by the favorable
character Of Saturdays hank statement AL
though London was a heavy seller in this mar
ket the effect Of foreign sales upon local prices
was not important London sold TO realize
profits. and perhaps part 81 the liquidation
represented the efforts Of foreign bankers TO
reduce the chances Of further gold exports TO
this country this month. although on the Lon
don Exchange there an active demand for
American securities London money rates are
again lower. and. az far az the monetary stua-
ton in that centre is concerned. there apparently
bankers over possible gold Withdrawals for
Network. the London market being we'll sup
piled with the precious metal In Paris signs of
disturbance are not lacking. reflected yester-
day in a sharp decline in rentes
The local money market Is too strongly forti-
fed 10 leave any doubt as TO It's immediate
future Speculation yesterday reflected in great
part SATURDAYS big increase in cash and surplus
holdings. and until the conditions that made
possible such material gains change, stock
speculation will undoubtedly run in the same
direction as noted in the last two months
substantial temporary reaction from current
high quotations NAV occur any day. however.
carving down the weak and enthusiastic opera
tors Of great optimism and small margins; but
opinion among the most intelligent and con
servative bankers does not consider the present
level very near the top range Of lST' Before
that point is reached the low priced stocks they
believe will sell very much higher than at pres
emit and the cats" and dogs Will be pushed
to fictitious figures There are many low priced
stocks in which there are valuable equities
that have not vet been noticed ST Louis and
San Francisco common and Chicago Great
Western common are examples of this sort
They and many others will sell higher for rea-
sons similar 10 those which have advanced At
Gibson common 81 Louis Southwestern pre-
ferred Colorado Fuel and Iron and shares of
similar character
The standard shares we're strong features IN
yesterdays market. notably the so-called van
derhilt stocks Chesapeake and Ohio and big
Four we're strong on a renewal Of consolida-
ton rumors The Atchison issues were active
leaders both the common and preferred max
ing rapid progress toward A higher level on
pool buying the basis Of that buying being the
theory that by safe reduction in operating
charges substantial dividend would be earned
upon the preferred stock Southern Railway
preferred was active on It's dividend prospects
ST Louis Southwestern shares were also promi-
nent features Trading in the ndustrials was
lively but II by no means overshadowed that IN
The railroad list Last prices were near the
best of the day