New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-15
BONDS.
THE DAYS OPERATIONS IN STOCKS

Some Wall Street traders believe that prices
will rule higher for week or more, but this
belief is not attracting any active outside buy
ing. The public failed to come into the market
yesterday, despite the buoyancy noted in
Wednesdays speculation and outside Of few
prominent issues trading was almost stagnant.
Prices were irregular without important final
changes, net losses being shown by the greater
number of securities. The bond market was rel
atively more active than the share department.
Bond houses report a fair demand for all first
class issues and growing inquiry for the very
cheap bonds that constantly increasing in
actual worth. Of the last named class Mexican
Central first incomes have recently been promi-
nent on buying for the account of a prominent
Broad-st house These issues are not so far
away from interest payments as generally sup
posed. If the earnings of the property continue
TO expand at the current rate there will be a
large surplus above charges for the year, and
In well informed circles it is believed that the
present price of the income bonds will be
doubled before the year is over. The Mexican
railroad securities seem to offer fair field for
speculative profits their ruling quotations are
we'll under their actual worth while their mar
ket value should not be influenced by any un
certainties that may affect this countrys securi-
ties.
Bear talk and bear literature are increasing
at rapi0 rate, DOt BOOO STOCKS are EoI coiilillS
on the market. Holders see wisdom in part
ing with securities which selling on an in
yestment basis. Nor do they consider il wise to
get out of stocks because the Chicago Board OF
Trade crop reports assert that a year of famine
is in sight. The crops this year may not result
in a bumper harvest but such conditions have
prevailed before, and the country is still living.
Lighter crops will help the farmers TO secure
better prices for grain in hand and for this
years yield, and IL the farmers make money the
country will be prosperous. Huge crops at low
prices are not of particular benefit to the agri-
in stock market operations, but it is not time
heavily in excess of this time year ago, rail-
road earnings are large, and general trade condi-
tions are reacting to healthful business level
Stock market traders, however, are bearish, and
as this element makes the market at present
predictions Of a sustained bull movement can
not be consistently made. But unless rich men
begin to sell prices will not become demoralized.
Total transactions in stocks yesterday were
smaller than any preceding full day in nearly
two years and with the exception of Sugar
Refining and Northern Pacific no stock was
traded in to an extent exceeding six thousand
shares. In the greater number Of issues sales
ran from one thousand to three thousand shares.
London prices were higher, but foreign opera
tons in this market were not important. Re
ports were circulated to the effect that large
mercantile failure impending. but as
bucket shop sources appeared to be response
BILE for the rumor it received little attention in
investment circles. The general list was heavy
most Of the day, without important movement
in any stock.