New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-09
BONDS.
THE DAYS OPERATIONS IN STOCKS

The stock market was dull and highly irregu-
lar, with only small net changes at the close
In the first dealings prices sold of in sympathy
with weakness in London, and subsequently ad-
yanced on reports of British successes IN south
Africa In some cases the entire loss OF the
first dealings was recovered, but, as rule'
small net losses were shown at the close. Early
news from London was disquieong, put the
manner in which the market received II, espe-
fiailv in view Of the extreme weakness in Lon
don. should convince the pessimist that the
suecuiatiye situation is sound II the market
had been In the hands Of a weak trading ele-
,,oent the losses that were suffered when Cen
eraI Butler was defeated might have been re-
heated yesterday The foreign markets were
thrown into considerable apprehension, as y
was feared that Ladysmith had fallen, bB'sng
effect upon local quotations was modihepestofs
10 the fact that stocks held he recovery
sns strong speculative interestsdon and New
from the low prices both ipdt the Beers had
work following the nev~ accompanied by IN
been repulsed. vases being the chief feature
creased dealingsere is a large speculative ele-
at the closes that will, of course, be hurt by
rnent in. Boer victories in South Africa. but
snnuels a still larger class that will be more
-tfously injured if British arms suddenly wipe
cut the memory of recent defeats. There were
signs Of reaction in the sterling market and con-
sinued comparative ease in money. The general
outlook at home and abroad was more cheerful In
sh s.S close of 49, 49, = - - =
The Jersey Central stock was placed on a
Fer cent basis yesterday and the Cleveland,
Cincinnati Chicago and St. Louis common stock
made it's re-entrance to the dividend list A few
weeks ago the New York Central stock was adj
vaneed to the 5 per cent class, while in the last
twelve months there were continued additions
TO the dividend list and announcements of In
creased dividends. The dividend period is not
over. There viii be more dividends declared be-
fore the list is completed and one of these days
the significance of the dividend age" will be
reflected in stocks: And some day the fact will
dawn upon stock market traders that new
money making opportunities. new projects and
business prosperity will not be succeeded by
b siness depression long the country has
plenty of money sound financial administra-
ton and conservative men at the head of Amer-
can railroad companies and Industrial concerns.
Many wrecks of prices, profits and schemes
sulted from the December crash in values. but
the country at large not affected. The mar
ket panic resulted in the transfer Of many val
uable properties to new hands, and the people
who bought certainly did so with the view to
ultimate profit.
The Standard Oil party did not go into the
Boston copper properties merely to eblige people
who were forced TO sell Large and important
interests that have recently associated them
selves with traction properties in New-York and
Brooklyn expect TO make money out of the
overture. Substantial business men are the
chief owners of stocks and bonds. and they evil
IDENTIFY quite willing TO have their money
pleyed IN American securities that are backed
by American prosperity. Capitalists are inter
ested in reconstructing the gas situation in this
city. and they engaged in other important
deals the influence of which will in time be felt
sn the stock market Big railway schemes are
under way. and they promise to be successful.
IF the countrys business and political outlook
were dark, big men would not be engineering
hiz deals. The stock market appears to be going
through a readjustment incident to the recent
slump and the sudden recovery. but in the opn-
ion Of the men best able to judge speculation
Will not be an exhibition OF gradually declining
prices in 1900.