New-York tribune., 1897-08-10
LARGE DEALINGS IN STOCKS
MORE THAN $4,000 SHARES TRADED IN.

PRICES OF THE MAJORITY ABOVE THOSE OF SAT
rRpAY-wHEAr ADVANCES ONE CENT.
The dealings in stocks and bonds on the New
York Stock Exchange yesterday were on
vrger scale than at any time since the enforced
souidation in the Venezuela panic IN December
1875 There was however. no great excitement
In the stock market. There rapid advance
IN prices II the first part Of the day Subse
ouerty there were extensive sales 10 take ac-
oumulated profits, and prices receded but still
final figures for majority Of stocks showed
gains from the closing quotations on Saturday.
The total sales Of stocks were 134 564 shares. Of
which "a 707 were st. Paul 4S4S0 Burlington
and Quincy. and 4S,2S0 Chicago Great Western.
The total sales Of bonds So.OOOOOO. par
value.
The stock -jobbing stories about the Manhattan
Railway seemed to have lost their efficacy. The
stock declined to 103 end closed at 1895 which
was loss Of 3ss from Saturday
There was a one-cent advance In wheat from
Saturday.
There Is a tendency IN speculation to drift Into
the low-priced stocks. for the reason that the
"divdend-paye have reached prices compared
with which the quotations for the others are
djsproportionate. People have not forgotten the
great rise In low-priced stocks between 1871 and
1851 and how enormous gains were made IN
buying stocks selling at 10 and under. There are
any number Of stocks quoted al rrom 10 30
share which are considered as likely TO advance
10 so and IS. There is considerable interest IN
operations in stocks In London this week. III
view of the beginning Of the for;nightly settle
ment.
There was considerable talk IN Wall Street
Yesterday of Old imports in the near future, out
II is probable that il is too early to look Tor gou
TO come this way. In any circumstances goin can
hardly be expected to flow from Europe to the
United States much before the middle OF Sep
tember The advancing tendency of discounts
abroad initiates against such a movement IL
is impossible to attempt to figure the gold import
noint Of exchange. For thing the price OF
gold bars in London may change at any time.
The only thing hat can be said with certainty
is that an influx of gold is inevitable IL VIII
take place or later but there is no use
IN trying TO X time for It,
The reduction in grain rates by the Chicago.
Burlington and Quincy Railroad is said by the
yice-president Of a Western railroad to mean
that the Gulf lines are not 10 have their own
way this fall. At present. for instance, the
Achison is bringing grain from the southwest
up 10 Kansas City. whence 1t Is hauled BACK u
the Gulf by the Kansas and Texas, instead OF
moving East over the Western trunk lines Ihe
Western roads have been seeking to get the
Eastern trunk lines to share in rate whlch
would keep some Of the grain moving East anu
the Burlington and Quincy appears to nave
found some way of accomplishing this end.
II. B. Hons said yesterday: 1T is now vr-
tually agreed by experts that the spring wheat
,rop is assured from danger from adverse
weather developments AS TO the total yieid
Of the wheat output. there is some difference
cording 10 Thoman. authority who COM
mands great respect the total production may
he $50 600 600 bushels. Nov, the price OF
wheat is roughly speaking. 90 cents a bushei
higher than last year the increased value OF such
a crop would be S116,O0O,OO0. AS such !leio
would be 13OO 900 bushels in excess OF the crop
OF 1896 the value in It's marketing Wonid leach
500 900 600 or S212 100000 more than the Vaiue
OF last years crop A liberal deduction may De
made from these estimates ana yet lhe IN
creesad purchasing power OF the farming COM
munity will reach enormous hgures. AIIu e.eh w
n the crop on the basis Of Thoman's estimates
trcraasad value over 1896 OF S111,000,000. Right
here Il NAV be remarked that the crop OF lo''o
while 40 100000 bushels less in amount thaii u,
1895 and SO 900 900 bushels less than IN Ioof
reached an estimated value OF H'ZoooV'o 1uG, iai
man in 1895 and SSj.VD,OO0 in excess or lo't
The general public, looking at TINS result 9l , ida
years wheat crop. may now uhuyI 'aYiu Sive SI,
we have had accounts this year OF the eXtehsiIe
uouidotjon of Western farm mortgages; Inc
corn crop is estimated by Thoman at -,oVV'
io0 ooo bushels or 900 600 more than the
Government Agricultural Bureaus estimates OF
the harvest of 1896. Assuming that no better
values are obtained this year than III lo'o we
wound have an increased return to the farmers
of $50 600 900 1t is probable that Ihonlah
estimates on corn may be exaggerated, Dut II
the WELD is lessened. the probabilities are that
,be nrice will advance sufficiently 10 make up
any suggested money reduction. There can
h. mile reasonable doubt tnat a great foreign
- /. nce,1red Tor lnr food products.