New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-24
'Ex dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market was again active. but ir
regular under the influence of heavy realizing
movement. Stocks sold appeared to be well
taken. In many cases substantial gains We're
made, despite profit taking sales. and. while
final net changes were small the greater num-
her Of issues showed net gains as compared with
Thursdays last quotations. The character of
trading was excellent and there was no dirninu-
ton in the bull sentiment that is general
throughout the Street. Public operators are in
the market. and the force of their buying may
carry prices many points above the present
level If current transactions not interfered
with by some unexpected adverse development
of widespread significance. Reactions are to be
expected. but the market certainly does not look
like bear affair present. The fact that the
heavy selling pressure yesterday did not reduce
quotations may be taken as evidence of the
broadening demand for stocks and the DISPOSE
zion on the part of the substantial in
terests TO bring about a higher level Of values
Big bears and little bears were badly injured
In the Third Avenue corner. and in well in
formed circles ii is believed that further injury
will be inflicted upon the shorts before the cur
rent movement runs its course. The recent So
called bad features in the situation failed to
Induce important liquidation. and now that
stocks have begun advance it is not likely
that the heaviest owners Will Iiquidate until
material gains have been recorded. The greater
humber Of securities the list are entitled to
higher prices their merits Conditions gov
ernng actual worth are growing stronger every
day. railroad earnings are running ahead of
last years great record. and commercial &C
tivity shows sign of relapsing into dulness
or into an unhealthfuI position When political
uncertainties begin affect stocks short sales
may be successful. but so far there is no indi-
cation that political uncertainties will be i'm
portant factors in the markets this year. Eu-
rope is buying American securities. Foreign in
Sestors realize the value of American invest
ments, and their confidence in American insti-
buttons has been strengthened by the passage
Of the Gold Standard bill The foreign buyer
evidently has decided not wait until the end
of the Boer war before buying. approaching no
poubt the ruling conditions here which are in
favor Of higher securities values.
Trading not active yesterday as it was
Thursday. This due TO a disposition on
the part Of intending buyers to wait for a bigger
reaction, and to hesitation on account of bank
statement uncertainties. The movement of
money has been irregular in the week that
predictions on to-day's bank showing cannot be
made with any degree Of certainty but from
what is known Of the movement 1t is reasonable
TO assume that improvement in surplus will be
shown Money market conditions are on the
mend" So much at least is known. and II is
safe TO add that for some time to come hank
holdings will move in favor of the borrower
IF speculation does not become wild if bull en-
thusiasm can be held in check by frequent re-
actions, and IL no financial industrial earth
quake develops securities, values will it is be-
Geved, move gradually higher.