New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-11-18
BONDS.
THE DAYS OPERATIONS IN STOCKS

n the two hours q trading yesterday the
stock market was strong and animated Prices
advanced from the opening until the close, with
out material interruption, many issues showing
striking gains over Fridays closing level anu
-he entire active list exhibiting practically an
u broken line Of net advances Commission
house buying again IN evidence invest
rnsnt purchases Of the attractive railroad ana
Industrial issues were heavy, while purely spec
lIlative buying was active throughout me isl
Bank statement figures for the week served 70
strengthen confidence IN the monetary situation
and in consequence bull sentiment or stocks
became more positive. Bear traders are GER
+atrly having a sorry tine al the moment. but
their expectations Of profits later on n the sea-
son have not been chilled. Il Is believed by the
few courageous operators for the decline that
present bull enthusiasm VIII end in enormous
LIQUIDATION before the close Of The year. Mean
wt!le however, their short accounts occupy
position. OF extreme danger OF course, reac-
ton Of no small proportion will develop, but
good judges are not counting upon an extended
period Of liquidation and sagg+ng values.
Trade reports for the week supply adequate
reason for cheerfulness over money, business
and stocks. Bank clearngs broke all records
railroad earnings were heavy and foreign trade
continued TO run II favor OF this country. The
demand for iron and steel was more active on
hardening prices. The anthracite coal situation
presnted Improvement and labor found more TO
co in all parts Of the country. The money mar
ker was comparatively easy throughout the
week the demand for accommodation finding
ready response from the lending institutions.
Buying Of stocks continued reflect an in
CURRY from people who had enough money 10 pay
for their purchases Buying Of stocks outright
has been an important factor in the market for
the last TWO weeks. especially in the medium
and low priced stocks that are selling under
their actual worth Investment purchases Of
Union Pacific preferred and all the Pacific
stocks, Atchison preferred, Southern Railway
preferred and stocks Of this class have been
heavy. and the chances are that the market
value OF these issues viii continue for some
time TO come 10 show the influence Of a good
character u buying IN the industrial stocks
investment buying has been noted IN Peoples
Gas. International Paper preferred and the pref
erence securities OF the steel and iron conpa-
ries.
The outlook for the current week IS pror1is-
ing. Operators will Go We'll 10 provide big mar
gins as the market has reached a point where
sharp reactions are possible especially IN the
securities that have become the popular specu-
iative favorites. The general level Of values Is
not above the actual worth Of securities, hui the
most optimistic bull n the Street neither ex-
poets nor desires advancing market without
decided setoacks setbacks II which stocks on =
Per cent margins viii need additional protection.
The exercise q discrimination and caution Is
necessary II this marker. Both Of these factors
have been features OF the market IN the last
week buyers operating the theory OF in
trins-c worth rather than or the idea that any
thing offered for sale IS a bargain. The pubIica-
non ~ the bank statement showing an Increase
n surplus Of over 100000 caused intense sat
ls-ac-l2n n ne ne St-eeI Yesterday. Loans in
creased only s. $4,000 while cash holdings ad-
Tarce1 over 100000 The small increase in
LoeIls n the lace OF enormous dealings in stocks
reflects & heavy proportion OF investment rur-
cnases n current market dealings.
- -S-a4 weekly table OF price changes for the
more active stocks follows: