New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-09
Friday. October S-p. m.

y,
The gold import movement on regular ex-
change transactions has begun in earnest and 1t
Is not unlikely that from now on until the latter
part Of the year a steady stream of the precious
metal will flow toward these shores. In addition
10 yesterdays engagements S4,3jOOOO gold was
taken to-day in London for shipment making
the total amount engaged, on shipboard and ar
rived. $S,3J0O0O The influence OF to-day's en-
gagements was responsible for stronger stock
market and at the close sentiment was decidedly
bush. Higher prices accomplished on
small transactions. and outside of a very light
commission-house business buying was profess
sional and in great part TO cover short accounts.
In Chicago Gas a covering movement set in at
the opening. The stock advanced on the first
transaction Is per cent above last nights clos
ing, and for the day made net gain Of | q per
cent, against net loss yesterday Of I per cent.
The bears played their cards we'll in Chicago
Cas- but 1t looked to-day as though they had
reached the end of their rope. and that any
further demonstration on their part would lead
TO their own destruction. The market has ar
rived at point where operations for the short
account are extremely dangerous. and 1t is note
worthy, as bearing upon this feature Of current
speculative conditions, that commission houses
are advising their customers to buy at the pres
ent level 1t Is not probable that important
market interests will allow the bear element to
carry It's work much further. for they know
that II the bears allowed TO have undsputed
control for any length OF time the best interests
~ the Street Will be injured by loss Of confidence
snd courage on the part OF the public in market
operations. The public generally trades on the
long side OF the market. and II is certainly not
ieassurlng to see prices steadily hammered
.o"er without opposition from large financial In
terests
technical market conditions and business con-
utiohs warrant higher prices and perhaps the
stronger tendency noted to-day is the beginning
., change for the better The fact that the
siump IN Chicago Gas yesterday had little
eaect upon the rest OF the market strengthened
ppihion IN the belief that the next important
,,v,ement would be upward: and from the ease
"i'n winch prices recovered to-day I: seemed
90 thouSh very little effort would be required
put tDe market higher Money Is getting
,nei. ms TACT may have an important bear
,as O,i the market within the next fortnight.
-, -. win easy money and a. public appetite for
.'cHs securities values arc almost certain 10
nsner. Io-morrow's bank statement, viii.
Mh4. Ill indica;ions. make a most favorable ex
oni"' Inc movement OF money this week shows
ana % moderate loss 10 the New-York banks.
The ,r MAJ the money institutions have lost
sst ~ 'erior movement has been more than OFF
dav s'id Imports. Fluctuations in stocks to-
b,ss..ie small. but the tendency was toward
showsnar level the result Of the days business
and sa'ss amounted 10 only 2J23S4 shares.
ST mi ans number Chicago Gas furnished
can ,shhe % the rest Sugar Refining Ameri-
and Nnass.o Burlington. ST. Paul Rock Island
shares NV" racine preferred supplied 7l.IW
stocks ,o'%,ne last sales OF the principal active
~ yes,s .o.aay compared with the nnai figures
we're as follows