New-York tribune., 1903-02-26
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock market movements were confined to ir-
regular price fluctuations and a small volume
ur business. IN the greater number of shares
quotations exhibited no decided tendency in
either direction, early losses being followed by
1ecoveries which in turn were succeeded by
slight recessions with final figures showing
more net declines than advances. Efforts to
bring out stock by bear attack on Metropoli-
tan were moderately successful in the stock
itself hut not in the general list. holders show
ing no disposition sell. while good buyers
appeared ready TO take all offerings on con-
cessions There apparently are few weak DUH
accounts in this market a large amount OF
stocks is undoubtedly carried on margin, but
these accounts are backed by large financial re
sources and by convictions on the part or the
1ol5ars that the bear element can make no
important headway. despite temporary adverse
conditions as. for instance, the tirrner tendency
in money rates Sentiment was faVoraoly I'M
pressed yesterday by the prospects for the pas
esre Of The AIdrich bill, and it was generally
beIiax,ed shat favorable action by the Senate
and tgor,sa would be followed by a smart rally
IN securities prices OF the tolal oeallsS
An7algar9ated Copper. Sugar Refining, Metro
,,ol;tan Rock Island Union Pacific and Wabash
4,referred supplied nearly one halt the WABASH
shares sold off on realizing sales various
,,,,rs ac,,onopanied the activity in Rock Island,
hl1tT
sso,ne of the current rumors connect St. Louis
- San Francisco with Rock Island, but the
General or,inion favors the theory that the
-r-, system is now controlled by Morgan
interests. -,o.ooo -
--ta local banks have lost over S@,5ooWo to
the s11,-Treasury SO far this week, while ihe
condition of interior exchange on NeW-ho orh aP-
rarently foreshadows loss on out o1 Tow"
crera3ioue An active demand for funos from
the West IS customary in the spring but the III
mir has developed earlier than usual this year.
owing no doubt to the unprecedented lnduslridi
arti,-;tv throughout the country Time money
.,11,- oxbitits a firn1er tendency. and n
hirber range for call rates may be expected
r,oare- money will of course. put gold exports
>, t,1-or,e out of the question for the present
while il may serve TO attract some OF the yeilo"
metal from Europe to the United States. Ihls
latter idea may not he accepted In certain circles
or the Street hut the prediction has been MADE
11ever- heless that movement OF gold imports
DiU begin before large experts 10 Europe de-
,-elor Gold 10 the amount Of S'oupto VIII ne
xhipped to Buenos Ayres to-day on a specl4'
onaration involving the payment OF a commls-
sio, l,y the consignees. Sterling eXchanse j.
NOV, well under the gold shipping point
There arc no alarming symptoms in the local
,,,one.a,-v situation and The present condition OF
.,o s.ocl, market is not such to he violently
affected by an advance in lending rates STOCKS
ere as rule in the hands Of people VINO are
.l,e to carry their holdings until they can dis
.-5l,,te them at = higher level, commission
houses are not handing unprotected accounts
and substantial interests stand ready to alb
sorl, securities on all recessions. An active bull
market is still looked for by the best judges IN
The Street, although il is admitted that the
money market situation will Se in better shape
Ia handle bull operations six weeks hence than
Il is at present. PEOPLE who own securities
which they are holding for higher prices should
exercise Iatience and not let their confidence III
the market be undermined by passing unfaNora-
HE developments Conditions governing the
actual worth or securities are growing stronger
every day, ami eventually they will be reflected
in the market prices Of stocks and bonds, es-
1,ociaI1v in the medium and low priced issues.