New-York tribune., 1900-11-20
"EI dividend
BONDS.
THE DAYS OPERATIONS IN STOCKS

The stock marker did not open with a boom.
but prices were generally above Saturdays clos
ing. and in some instances sharp advances were
recorded. After the first dealings a reactionary
tendency developed. and although recoveries
were subsequently made in many issues the
tendency throughout the day one of irregu-
lartty and heaviness This was due TO realiz-
ing sales and the disposition of the public to
wait for lower prices. The days trading was in
line with healthful speculation. A further reac-
ton would he welcomed by conservative inter
ests, and especially by the people who are wait
ing 10 get into the market al cheaper prices.
Stocks look like safe purchase on reactions
and at the current level on good margins. The
technical position OF the market is not danger
GUS. the conditions governing actual value
in favor of the bulls. and the monetary stu
alton is not involved IN uncertainties that sug-
gest disturbance. There may be periods of
higher rates. but II is well 70 bear in mind that
the interests Identified with the chief lending
institutions in the Street are deeply concerned
IN the present stock market. and as conse-
quence ii is probable that they will do every
thing in their power 10 prevent stringent rates
for money.
The bank statement issued Saturday showed
sounder conditions than expected. and the indi-
cations for the current week favor a still better
exhibit next Saturday The rate for money is
the year. trade and speculation Will create
an active demand for accommodation. but there
need be no fear Of sfrfngency Buying so far
in the stock market has represented in great
part investment purchases and the pressure
upon the loan market has therefore been COM
paratively light. Public traders VINO operate
on margins are entering the market, however
IN large numbers, and the demands upon the
banks are likely to be heavier in the next few
weeks First class securities selling under par
were features yesterday. with particular interest
II the Pacific issues and the steel stocks. The
higher priced shares were also active, Pennsyl-
vania and New-York Central finding their way
into investors boxes Both Of the stocks named
same may be said Of the Pacific railroad stocks
and all the preference securities Of reorganized
railway properties. In the Southwestern group
opportunities for profit are Offering in Kansas
and Texas, ST Louis and San Francisco and ST
Louis Southwestern issues Earnings Of the
Southern and Southwestern railroads are beavv
The volume of business yesterday was euor-
nous, but the pressure Of realizing sales n-e-
vented general price Improvement Stocks thar
were offered for sale were taken by a good clase
OF buyers, brokers having orders for about ever,
Issue on the list the reaction The nnarka+
looked little tired from the big advance 80
OF the day that further decline would take
pace While the greater number Of iseues
showed net declines several striking advances
were SHOWN, notably in Metropolitan Americs1
e. g. ana wire Colorado Southern preference
issues Genera! Electric. Great Northern nre
terreo, Brooklyn Rapid Transit and Rio Grsr5a
western London was a heavy seller Tbe
HaIhet closed feVer1sh and unsettled