New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-28
Saturday. November 27-p. m.

v,
Although to-day's stock market was IN s'ea'
mart a professional affair, there was more am
nation than has been recently the ruie' anu
commission houses were moderate buyers OF Sc
curities Perhaps the return TO the city OF one
OF the important bull leaders OF last summer
marriott Influenced bullish sentiment. The short
interest covered freely. and when prices began
10 20 I'D IL took very little demand to cause ma
terlal advances. The Supreme Court may mana
down a decision in the Nebraska maximum rate
case on Monday, ard in expectation OF decl-
sion in favor Of the roads sentiment Is kindly
disposed toward the Granger stocks, as rehect-
ed in the movements in these Issues to-day. st.
Paul and Burlington were leaders In point OF
strength Chicago ard Great Western is much
better thought OF than six months ago, and as
1t is selling at very low price 1t is not sur
prlsng that II Is being quietly picked up By
people who seldom make mistakes In market
operations. All the Western roads enjoying
a most prosperous traffic. Northern Pacific pre-
ferred is being bought the expectation OF a
dividend declaration. Many preferred stocks not
In the dividend paying class are being taken out
OF the market on the certainty OF big advance
IN their market values In the future. Sugar Re-
fnng was again strong feature. but there
were not few bears left who refused to be-
lieve that Sugar stock would not go to 10 be-
fore It reached a materially higher level Man
haitian strong and active. AS a rule tr rs
actions were distributed and the two hours "
trading furnished a better market than has
been witnessed in several weeks.
Wheat exports last week were heavy. and the
advance In the price OF The cereal to above 81
was one OF the few striking features OF the week
In Wall Street. Western receipts OF wheat In
the last four weeks amounted to p 1O4
bushels. against 9.214,S3S bushels in the same
period a year ago. while exports from the At
lantc Coast were for the same number Of weeks
10 129 $50 bushels. against 7.731.6S5 bushels
in the corresponding time last year. The heavy
excess Of merchandise exports over imports s
not reflected In the foreign exchange market as
balances due this couT try are lending In Europe
Discount rates abroad are more attractive than
here and gold imports at this time are neither
required nor desired The exchange market was
Arm all the week. Long sterling bills were &C
cumulated in considerable quantity by bankers
who intend holding them for investment uhlh
they run to sight The fact that there IS no &C
tive bidding for these drafts does not lnu'c sS
an absence Of demand. As matter OF taS., tue
demand Is excellent, and whenever the oiiis are
offered In the ordinary course or business tney
are quickly taken. Active biddlng Wouio ao
vance the rates Besides the lending by iocai
interests in London and Berlin, II is SAID that
Chicago Is a large lender In Berlin Money 10
a drug at this centre The receipts from the IN
terror are largely in excess OF shipments; az
shown in this weeks bank statement, which
gives an increase In cash OF S333S 'Uu. Ine
large changes in the loan ana deposit items are
due In great part TO the Union Pacific payment.
aggregat!ng Sl3 100000. Deposits Increased
sis, IA loo. Of which S11.9S0.6OO was shown oy
the National City Bank, and loans inereasea
St4 O97 400 The result OF all changes was d
loss in surplus reserve Of SS47 1926, to S22o6oSZo
against S31, All, 625 this time year ago.
Prices for the last sales OF the principal ac'''e