New-York tribune., 1900-04-25
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Transactions in yesterdays market were not
heavy, and price changes were not generally
important. Dealings made up in great
part of professional traders operations, the Cnly
noteworthy outside buying being for the account
Of people who always buy stocks cheap to sell
dear Sentiment is bearish IN ordinary commits
sion house circles The greater number of oper
ators appear anxious 10 be out Of stocks
short Of stocks, and for this very reason shrewd
buyers are desirous of securing stocks. People
who often make money in Wall Street maintain
that the time to buy is when one apparently
wants securities. London bought in the local
market, its purchases Of the Pacific shares
amounting to large figures. while commission
houses also took these issues in moderate
amount for the account Of substantial interests.
The general market irregular. with sag
ging tendency in values in the greater part of
the day. AS rule. last prices Were under Mon
days fnal figures. but in only few issues were
net losses heavy. The steel stocks were bought
in the morning the report that Mr.. Gates
would retire from the American Steel and Wire
Company, and that the Federal Steel Company
had secured control Of the first named concern.
American Steel and Wire Company. under
Federal Steel control, would be a different in
stitution from what it is to-day. If properly
managed. steel and iron companies will prove
attractive channels for the investment of capital.
AS long as the United States continues to grow.
and long the world at large uses the prod
ucts of iron and steel. conservativey operated
steel and iron companies will be prominent fac
tors in industrial activity and in investment
markets Certain people may believe that the
recent manipulation in American Steel and Wire
stocks will upset the business growth of the
country. Others may believe that gold exports
and a Presidential campaign Will upset the value
OF investments but in the end they will all dis
cover that the United States will continue to ex-
pand and investment values lose nothing Of
their intrinsic worth. Speculation will. doubt,
be affected by gold exports and the coming polit-
zeal fight. If lower prices are made the result
OF these factors, il is likely that many good
bargains will pass into the hands OF interests
who base their operations upon actual values
rather than upon passing speculative considera-
tions.
In the early afternoon trading the bear ele-
ment made a raid upon values, and in several
stocks sharp losses were suffered. although par
t!aI recoveries were recorded before the close
The coal stocks We're attacked. and the selling
was followed by reports that the State Rail-
road Commission would approve the building of
the proposed new coal road from Scranton to
Kingston. Mr.. Keene supposed 10 be re-
sponsible for the attack upon the coalers and
Baltimore and Ohio, but in the last named issue
pool liquidation in evidence. Chicago sold
the steel stocks, while Standard Oil and Flower
brokers bought Sugar Refining enjoyed a sharp
advance in the final dealings and the rest OF the
list moved up in sympathy
THE DAYS OPERATIONS IN BONDS.
CONFINEMENT T26NrTS Ara-1,a. ..-,- 49, ,