New-York tribune., 1900-05-01
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Traders sold stocks in yesterdays market
The strike situation IN the New-York Central
repair shops Buffalo 1t was assumed by
the trading element that the disturbance would
irvolve the entire Vanderbilt system. and
make bear argument stronger the theory
advanced by resourceful Spectators that the
strike would extend to the greater number of
reads in the country before a settlement could
he reached. People who own New-York Central
stock an6 decide to sell il because of any labor
troubles in the Vanderbilt properties should be
taken in charge by their friends and have heir
persons and property managed by competent
men. There was a big labor strike on the New
York Central several years 60 ard the company
was inconEenienced for several weeks conse-
Guence. but the real value of New-York Central
stock injured thereby In the present
case the investment worth Of Vanderbilt secur-
lies VIII not he reduced. and on any speculative
decline incident 20 hear attacks good buyers
VIII stand ready % accept all offerings. The
stock market is not a good sale any OF the
disabilities upon which bear traders and bear
organs are now figuring. L is. 10 be sure.
traders market hut traders cannot force Iiauida-
ton when securities are in wealthy hands when
conditions governing actual values are strong
AMI promising. when there is inducement TO
male sensible men part with their holdings
The supply Of stocks available for immediate
Speculative purposes is said to he smaller than
al any preceding time in many years. This may
well he believed. stocks have been slowly ac-
cumulated by important market interests for
several months. and by investors, both individ-
ual and corporate, who satisfied to leave
their possessions in safe deposit vaults without
worrying about the daily fluctuations in prices.
in yesterdays dealings large amount of New
York Central stock passed into the hands Of
wealthy buyers General operations were light,
nfra of all ct will hr1yer
on the reaction No important long stock came
upon the market. and even in the Of Sugar
Refining buying by interests who seldom touch
this manipulated issue noted. Wall Street
believes that the movement in Sugar certificates
represents something beyond mere manipulation.
Strength is added to this belief by the character
Of buying in the stock and by the known con-
ferences that being held by the opposing
sugar interests. But Wall Street has been fooled
SO often in Sugar that 1t will hardly pay to
credit reports of a trade war settlement until
official announcement to that effect has been
made.
The course Of values throughout the day was
highly irregular. and recessons forced by the
New-York Central strike talk were not ir1por
tant. Sugar Refining recorded a noteworthy
advance in the early dealings. but cost the gain
before the close, ending at net of several
points Missouri Pacific strong expected
favora hle developments at the directors meet
ing and the failure of the meeting to produce
q dividend declaration did not prevent the stock
from recording a net gain for the day. The
general railway list without especial feature
and without important price changes. small
fractional losses showing in most issues at the
close. The reduction in assessments on local
corporations was nullifed. far its effect
upon the local gas and traction stocks was con-
cerned by the decision of Judge Kenefck. Of
Buffalo. sustaining the constitutonality of the
Ford Franchise tax law. Commission houses did
little in the market. more than three-quartArs
of the days business representing professional
operations. No gold taken for export. but
shipments are expected later on in the week