New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-30
BONDS
THE DAYS OPERATIONS IN STOCKS.

Stock market trading was conducted upon
large volume of business and on an irregular
movement Of values. The pressure OF realizing
sales exerted noticeable influence upon prices
and at the close quotations for the greater num-
Der Of issues under Wednesdays final
figures The character OF buying was good and
offerings found ready buyers on the recession
further sharp break IN Sugar Refining did
not unsettle prices elsewhere much to the dis
appointment of traders who went short on
wednesday in expectation of general declines at
the opening yesterday. Reactions were wholly
the natural sequence Of recent advances and
greater losses would not have heen uuweIcome
TO conservative market interests London again
bought heavily on balance, and local banking
houses had buying orders from a substantial
class Of operators. The final trading developed
greater weakness than at any other time in the
day and good market judges thought that the
reaction would run further before the end of
the week VIZ Gnu vi
The digestive process in stocks is as necessary
10 the health or speculation good digestion is
TO the preservation of a healthy body Stock
market trading has enjoyed a specula tive fea.t
tlls week, and the pause in the advance yes
Ieruay reflected stock digestion. A bull marker
that does not rest will come to grief Declines
forced by bear pressure and realizing sales are
the safety valve of bull speculation and ~ shern
recessions from current prices are made and IL
frequent declines attend the inward rnnvepant
holders of good stocks who are onsrating por
sChlelhihg more than turn need not become
alarmed. The factors that make a bull market
are features Of the current situation Stocks 70
moving up under the influence OF these factors
ana lrr9sularity and declines at times only
serve TO strengthen the possibility OF further
advances. In conservative circles II is believed
lnat the market has many points to go before
the TOP VIII be reached especially in the low
prlceo issues, whose actual worth is increasing
raploly. The so-called high priced stocks will
oouptless DO better, but the cheap issues ought
TO be the speculative features OF the year High
grace securities such as New-York Central.
pennsylvania and Burlington are not selling at
an inflated level. and their chances OF substan-
tai price Improvement promising: bur the
small trader may find greater profit In carry
ing cheaper issues on which his 10 per cent mar
gin or better VIII go a great way toward the
actual purchase Of the stock
High priced stocks are likely TO suffer htp
fluctuations on both sides OF the market and
as a result small margins frequently Uiped
out or profits offset by heavy interest charges
Of course such considerations carry little weight
with the substantial operators. who seldom are
forced to take loss but they ought TO annesI
10 the ordinary operator and in conseouence
attract greater following in the low priced
stocks Of merit. The time will coma ~ a.
country continues prosperous, when MANY Of
The present cheap stocks will sell on the invest
nent level Accommodating profits must tell on
the market value of the cheap securities Grovv
ing rai!road earnings in all sections of the conn
Try VIII carry current values of low priced CON,
mon STOCKS TO quotations far above the ruling
level southern Railway common Chicago
Ifeat western, St Louis and San Francisco
Aicnlson common, Southern Pacific and many
he non-dividend payers 10y