New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-01
SEX dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Public buying was in evidence in yesterdays
market. Evidence of powerful support was also
presented, factor that appeared to appeal with
considerable force to the trading element Total
sales we're larger than on any day this year, the
Volume of business was well distributed and
prices were generally firm and higher. The pres
ent advancing and active tendency in stocks may
mark the beginning of the bull movement that
was expected earlier in the month. There are
many reasons for tbs belief that stocks are about
20 move higher and become more active. The
unsettlement caused by the December smash
has been eliminated as q market factor The
readtustment of holdings incident to the liquida
ton in December has been accomplished, and
the money market has fallen back to level
that indicates a plethora of lendable funds at
this centre. Technical and money market con-
ditions favor higher prices. Business conditions
throughout the country favor higher prices. The
attitude of capital toward investments favors
higher prices.
In many well informed quarters Of Wall Street
il is believed that the low-priced stocks and the
very cheap stocks will be prominent features
in speculation this year The actual worth OF
this class of securities improved materially last
year without corresponding gain in market
value, and at the current level the greater
number of this kind of issues many points
under their actual business value. Low priced
contrary. ali chances favor higher quotations for
nesrly every low priced issue on the list. The
cheap soft and hard coal stocks should be feat
ures this year especially Ontario and Western,
Reading, Wheeling and Lake Erie and Norfolk
and Western common The industrial list pre-
sents many cheap stocks which possess value,
and in the railway list OF stocks paying divi
dends there are number OF shares which
well under their true worth. Union Pacific pre-
ferred, per cent stock. sells at 20. Norfolk
and Western preferred and Northern Pacific
preferred, per cent stocks, sell at 20 and 10
respectively. These prices certainly not
high, and at advances of from ten to fifteen
points they would not be on an inflated level.
The stock list is made UP of attractive
sortment Of investments and prospective divi-
dend payers, and bear arguments about future
possibilities hardly worth discussing at
present.
The Spectator who bases his operations on
conservatism will look out for the spring money
market and for the possibility of further foreign
selling Of American investments as a result Of
the Transvaal war; but the actual investor will
not find in such factors sufficient reason to sell
his possessions. The more important Wall Street
houses are more bullish than they have
been in several weeks The interests identified
with the so-called Standard OIL party are heavy
owners Of stocks. Capital is on the bull side.
Capital has been moving into bonds for several
weeks. a factor which generally is followed by
activity in stocks A house committed to the
bear side Of speculation suspended yesterday.
This may serve TO impress the Street with the
weakness Of the bear position. The market
closed below the best prices of the day on
realizing sales.
THE DAYS OPERATIONS IN pONDS