New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-12-21
THE WEEK IN WALL STREET.

Stock market transactions last week were q r.,
nm, showed an advancing tendency until fri,
day when activity developed ana prices -, -
under heavy selling movement lhuureu me
indepandence of Cuba by the Senate Coihn ,.
on Foreign Relations There are 80 ui,
reasons for believing ina, inns ms is ~ does an
Executive veto awaits II WHICH III an c,,oh
bility cannot be overruied in Congress SUN im
action is attempted. 1t Is unllkeY ma on &C.
come ia a vote for considerable tiihe vi "a
count OF the talking proclivities or senators au
Coneressmen 1t is extremely prooa n.',n W. ~
when a vote is reached the resolution WIZ y.
a very much modified form: anu SUN. 81
EXISTS for believing that after the rest Oh q l.o"
day recess In which warlke senators anu ~
gressmen may be imbued with feelhss vi P s"u
and Goodwill this fear-provoking resoiu'ioI mo-
no indeed bv it's trainers and advocates uhtiine-
ly. hasty and against the pest ln'eies,0 :" Dta
country and Of no material benent 10 tne cuDai
cause Some Stock Exchange tfaoeIs ape
emil, beijave that war with Spain VIII be the
final outcome of the resolution. Dut IL - hdiu ~
discover upon what they base their theoiI , :"
the Cuban break there was selling i'r ,;|n,,da
counts. but no Indications developed OF iquiua-
ton by large investors or big STOCK Exchahee
interests Weak holders were shaken ou'' anu anu
some small investors fOolishly threw over 'he',
Possessions while professional tradcrs anu
others sold stocks short the marFei recoVereu
on SATURDAY. on a better level or prices III Lon,
don and upon the somewhat ICY way ~,
ths u,IfIic at large received the Cuban resolution
6acalonmant Washington houses cancelied
their selling orders. ana some HNe! '"'ciiiie
was INDUCED in although the net gains VIZ
less ,han n, net losses on the preceding day.
Continued ease In domestic money "'e'
brought about. by the accumulation VI ia.s ses
amount OF idle money at tnis cehie' ahu n.,
discount rates abroad. have caused an ih,e'.Ss
INK situation in financial relations Det"ceii ''i'
country and Europe. This was maze pToiiou".eu
last week by a rapid advance III s,eiI.is
Change rates and By talk of gold exports from
here TO Germany. II Is sclf-evideht ma In,ea
est rates control 10 a great extent Inc HoNc
rrt nj OF money and recent demands IN inns mar
ket for loans for foreign account have rehec'cn
the scarcity OF funds in foreign money centres
While the prevailing high discount rates IN Lon
don and Berlin nave been sufficient reasons ioi
attracting domestic money TO those cities. An
answer to the question regarding the cause OF
such easy rates and a gut OF money IN tnls
market Is easily made by pointing out an III
crease In associated bank deposits In the last
seven weeks of over SJO00OW. the return TO
Circulation OF ante-election boarded funds. the
receipts here during the recent gold importing
movement of about x70.WO.OW. and the In
crease in the circulating n edium OF money PAID
out by the Treasury Its excess OF expendi-
lures over receipts account. Another reason
Tor 30 much idle money may be found In the
slack demand from mercantile borrowers and
The unexpected Aowness OF trade revival. In
the foreign markets the loss Of money to this
country by gold exports. losses In excessive
mining speculation and demands upon London
end Berlin from Russia, China and India, as
well ~ good demand for money In the or
einary channels Of trade. have produced
scarcity OF available funds and consequently