New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-29
BONDS.
THE DAYS OPERATIONS IN STOCKS.

There was a good demand for stocks in yester-
days market and despite heavy realizing sales
prices were firm throughout the day, with net
gains In the greater number Of issues Foreign
operations were again heavy. The coal stocks
which enjoy an international market were feat
ures in the foreign trading. large amounts of
Reading and Ontario and Western issues pass
ing to London account Both the soft and hard
coal shares are being accumulated by an ex-
cellent class OF buyers, and the cheaper priced
members Of the group are promising candidates
for material price Improvement The coal BUSH
mess in the United States has been profitable for
the last year. Bitumnous and anthracite coal
producing and carrying companies have enjoyed
q period of growing prosperity, and indications
favor a continued expansion in profits for
months to come. Coal road securities did not
share in the bull movement of 1899 to any i'm
ortant extent, especially in the case of the soft
coal shares. which, with few exceptions have
been lifeess until the present time for several
years. on April 1 higher schedule OF rates
goes into effect the soft coal roads and SUBJ
stantial gains in earnings should follow The
shares Of these companies will, it is believed
prove profitable market investments this wear
particularly the low priced issues, such as Read
tng second preferred. Norfolk and Western
common, Ontario and Western and the Wheel
sng and Lake Erie stocks
Enormous realizing sales in the last few days
nave mace no appreciate impression upon mar
ket values The selling has been what Wall
Street calls good, but the buying has been equal
ly as good, if not better. Great sustaining
forces are found in the excellence of railroad
earnings, in money market prospects and for
eign confidence in American securities. These
factors have attracted a large public demand
for stocks and bonds, the buying representing
the operations of men of means rather than the
speculations of light wasted" margin traders
The public Spectator who has nothing more
than a . per cent margin will come into the
Aet when the top has been reached. but mean
while the more important interests will control
the situation. In the last week Europe has
bought upward of 100000 shares in this ma rket
and the best authorities and judges in the
Street believe that this buying is merely pre-
Hminary TO steady accumulation abroad OF
our railroad securities Europe apparently is
well satisfied with financial conditions here
The passage of the gold standard act has re-
moved the last grain of suspicion among for
-eigners over the stability of our standard of
value, while the lasting qualities of the IN
duStrial revival have doubtless convinced the
European investor that American securities are
highly attractive channels for the employment
OF capital.
In the last hour of trading the market was
extremely animated, with renewed active buy
ing OF the railroad Shares. A sharp decline in
Sugar Refining. due to further evidence that the
trade war is not over. did not exert any effect
upon the rest of the list. Sugar prices have
Company's biggest competitor, and as this ac-
ton has taken place advancing market
for raw sugars IL may be assumed that the
sugar war is not in process Of settlement. The
reduction IN the price of sugar had less to do
with the decline of 3 points in the stock how
ever, than the remarks attributed to the presi-
dent Of the American Sugar Refining Company
regarding the cOmpany's dividend prospects.
tremely pessimistic predictions the dividend
question.