The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-08-14

@I.ooWo.1o' IeeOerS, SoW4.ZO; IeXan and
Indian steers, $4,000; Texas cows and
heifers $2.10@3.5O; Texas calves, 1909
each. Hogs, receipts, 1900 head; mar
ket strong; closed SC lower; heavy, $4,000
495; mixed, $4.25@485: light, $4.SO@51O.
Sheep. receipts, 1000 head; market slow.
WEEKLY STOCK REVIEW.
New York. Aug. 10.-There has been very
little change this week in the conditions
which influence speculative operations in
the stock market. The continual shipment
of gold is the only influence adverse to high
er prices in securities. Every effort has
been made to restrict gold shipments and
assurances are publicly given that these eff
forts will continue to be made until condi-
tons of trade changed by natural
causes. It is stated that the syndicate have
accumulated a stock of gold which will be
used to reimburse the treasury for the
amounts withdrawn by merchants for ex-
port. The tendency of all these operations
is to restrict, and a restriction of trade in
any direction ought not to be construed as
favorable to the establishment and mainte-
nance of higher prices for securities. 1t
certainly will not increase the confidence of
foreigners in the stability Of our financial
position. What the country most needs
now is a steady absorption of American Sc
curities abroad. There is no way Of liquid
ating trade balances except by liberal sales
of our securities shipments of gold.
Exports of produce are totally inadequate
to meet our debt balances. There are some
experienced observers who concede with
the views of foreign writer's upon financial
subjects that another issue of bonds in the
immediate future is probable, but the great
majority of financiers in the country do
not hold this opinion It is certain that the
pedient except through dire ire necessity, for
another issue Of bonds would be a popular
measure.
cally assured, considerable attention is be-
ing given to the price at which they can be
disposed of: It is practically certain that
maternity higher level than last year, but
unfortunately for the country the wheat
crop is smaller this year. and all are not yet
certain of having large surplus to sell.
Cotton is in much the same condition as
wheat. except that there are larger stocks
advance. there is a preceptible slackenng
Of the demand. The price Of corn and oats
for the new. crop options is very discourage
farm value of this years immense yield of
corn and oats will not be much, If any,
greater than last years, and If prices con-
tinue to decline, the value of these crops to
the producer will be less. This has a very
important bearing. upon the purchasing
t OF the and to less
for transportation charges will inevitably
follow to a certain extent the price of the
commodity to be transported.
One favorable feature is that the corn
last. A very large percentage Of the sur
plus corn for shipment will this year be
west of the Mississippi river in a territory
that suffered severely last year. At pres
will be marketed slowly, and that there will
be no sudden great increase in railway
earnings, but when once corn is grown it
will surely have to move to the market
a n Il.
The bond syndicate has made a further
| scribers which makes total repayment
of 741a per cent. The balance will probably
| be paid soon. as the transaction is practi-
| cally completed. When this, is DONE there
may be a slight change in the money mar
ket. for it is generally understood that the
| syndicate has been carrying large amount
| Of money and loaning it on call on current
rates which have been lower than the banks
cared to meet unless they were forced to-
| Commercial paper has been selling at high.
| err rates during the past two weeks, and
! with this large sum of call money with.
| drawn from the market or divided up II
| may be possible for banks and bankers tt
| obtain a little higher rates,