New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-26
THE FINANCIAL MARKETS.
1ITTLE DOING ~ STOCKS.
CONDITION OF THE FEDERAL TREASURY
RAILROAD EARNINGS.
Sunday. April o5-p. m.

Sunday. April o5-p.. m.
The possibilities OF a general European war re-
.utins from the Greco-Turkish conflict do not
.nnear at all distinct. and If they did
,n,on should not incline toward pessimism
A, least in this country and in this country's
financial markets there should be no fear or un-
.ss,ness 1t is no trouble OF ours, and none Of
our interests are concerned. The so-called con-
cert OF the Powers has accomplished little that
,au be placed 10 its credit and II would seem
.hat its sincerity were as little 10 be depended
upop as that Of the Turk in his promised Ar
menian reforms Stock Exchange traders, fol-
lowins the lead OF London operators. have argued
that the failure OF the Powers TO preserve peace
between Greece and Turkey after months OF pro
fessed,y trying to avert the struggle would break
the peace Of Europe and some people curious
IL believed that war between the t-class Pow
s-s In Europe would cripple this country's fnan-
cial and Industrial markets. bear traders imme-
sateiy sold the stock market down on the an
rouncement OF actual hOstllities in the East
Then the Street appeared to believe that vic
tory for the Turks would mean a speedy end OF
the chances Of war between the other nations
while a victory for the Greeks would only pro-
long the uncertainty and possibly cause a general
UPRISING Again. the Street or a certain ele-
uent in IT, professed TO believe that the great
abrothery loving" Powers OF Europe would let
IN. Greeks and the Turks fight for little time
and then call them of and send them TO their re-
spective homes Az the close Of the week the
general theory among traders appeared to be to
seJl on reports Of victory for the Greeks and buy
vhen the Turks were reported on top.
Bear traders were disappointed at the failure
NJ the European markets 10 take a more serious
view OF the situation ard at the lack Of interest
shown by investment holders here in Mondays
slump IN prices The experience of the shorts
N the week helped them TO realize. however.
that there were some bright spots in the darkest
places and that i'm the present gloomy situa-
IN he n ne
tainty in the rest OF Europe a strong contrast
was afforded by the favorable position OF this
country and by the opportunities of benefit
and profit which foreign war must necessarily
offer to this country's markets The financial
community. a rule. knows that the local
security and produce markets will be benefited
by foreign wars and the investors throughout
the country too we'll informed and too con-
sdent over the situation. regards future in
dustral expansion TO be drawn into liquidation
hy the small talk and calamity reasoning or
bear operators operators who sold short on
Monday found out their mistake Tuesday.
and during the rest OF the week until yesterday
made decided efforts 10 protect themselves
against their own mistakes. The absence OF out
side demand made their task comparatively
easv. and at the close OF the week the recent
outstanding short account was pretty well COW
cred The public continued 10 stay away from
security operations. and in all departments OF
Val Street business transactions were con-
Quoted within extremely narrow limits. but
prices % Government municipal and railway
bonds remained firm. and the available supply
as q matter Of fact. was too small 10 admit or
any extended operations An upward movement
IN the anthracite coal shares on the Stock EX-
chang was interesting as showing how light
A demand was necessary 10 advance a frst-class
stock. despite severe declines suffered In recent
weeks by reason OF bear attacks ana mdnlpuld-
ton Delaware and Hudson made net gain
OF per cent in the week. and Jersey Central
q net gain Of per cent. The speculative spirit
was apathetic AL the week and the general
course Of trading was made up. in great part or
the operations OF men who appear 10 make
their living by scalping fractional pronts on
either side Of the market.
In the foreign exchange market cable trans
fers were Yesterday sold on London against an
export alton II gold. which VIII be made on lues-
dav but the transaction is Of no especial slSnin-
canoe except as rejecting the demand in Eu-
rope Tor the metal and the unwillingness or
London 10 meet further demands FOR IT, tx
change market conditions do not hgure 70 any
.xterr in the transactions. a present rates the
rroft IL any in exporting gold is too small 70
encourage shipments Of the metal, the exporta-
ton on Tuesday being made ON con1mlS rnS
paid By the buyers. AS announced In The IT'D
,.ne Yesterday. the gold will go 10 Austria pE
way of London, on what Is commonly cai4eu
the triangular operation and 1t is likely thaI
:, w,Ii he followed by further shipments for
Austria and for Japan and RUSSIA as well
AS frequently explained in The Iriouhe, eoIu
shipments al this period do not renect a-Velse
conditions IN this country, but the urgent O.
maud for gold on the London market from me
Continent and Japan. Although London holos
large stores Of the precious metal II mas ios'
cordancA with the well-knOwn and conservative
policy OF the Bank Of England. efforts are now
ba,ng made 10 prevent further depletion IN
gold holdings by raising the price or god 10 pro.
hjbjtive figures The premium at the Bank Oh
England for gold bars at the presehLo pII ~,
voud amount To above S3,OOO on SI,Vo,Vp' the
n-,cA standing at IS shillings an ounce. against
= Ehillings pence. the par for gold bars ms
court-v's gold eagles rule al : pence ABOVE par
A. the Bank OF England. Prevailing low rates
o. money in London make II possible lot people
,stsng gold from this country 10 get credit IN
he TonAor market with which 10 pay for the
metal and this with the high price OF golu III
London makes shipments Of the metal from mere
a comuarativelv easy transaction. IL Is not an
unravorable development when forelsn couh-
tries look 20 this country for financial help' nor
win The effect upon our money market De otheI
tba, baneAcial Cold can easily be spared. as
the rreasu-v and the banks hold large supplies
and there is an enormous amount or the meta
throughout the country. and shipments AT ttt III,
time are not likely to create an unLaV0lauIe
sentiment. except that which STOCK e. 80
eears nav manufacture. The balance or trace
eor,,nuss in This country's favor. and at present
the ,o-eIen exchange market holds sufl1clent
amounts 81 commercial and bankers plIIs 70
mae. all demands for remittance. Inc IocaI
monev markets need in bankers OPINION, a
Einulant but the plethora or idie 1uhos az .,,.
csnsr. vii ~aouire a fairly good-slzed outward
movement OF gold 70 advance money rates -
,roa.abTa Ar,,res Az present call money rules
unchanged al IA a1A per cent and time MOI. ~
.. 3 nsr cent Cor sixty DAYS, "a per cent 10,
three months 8 per cent for four months a. 81
s93sh re- cent FOR six months. Inc deihahu ~
marco r.Ne accommodation is light, put II - no.
wo,tS,. Va he loans OF the associated banks
show an expansion az comparsoGa Win 'i'iS ''''O
a wear ago II nearly s3S,OVOV
The following "a bles show the movement VI ''''
chic, active stocks and bonds IN the week!