The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-05
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Proceedings.
NEW YORK STOCK REPORT
Digest Of Exchange News-Mining Stocks.
Metal Quotations-wool Prices and
Movements = Grain and Pro-
duce-Review of Trade.

New York. June 4-Ther was no trace
manifest in the stock market late yester-
day. The change might be accounted for
in two ways: First. the adoption by the
senate of the section of the revenue bill
authorizing IN issue of bonds and treas
ury certificates. Second. the professional
spectators who sold stocks and took their
profits early in the week and were anxious
to get back at low prices. The second ex-
PLANTATION is more likely to he true. 1t
was evident before the opening of the
market to-day that II would be difficult
to effect any further decline in prices.
as London had advanced Americans a
large fraction all around.
London made much of the action of the
senate in adopting the bond provision.
and was also Influenced by the persistent
rumors from Paris. and even from Ma
drid, that Spain was seeking a way TO
peace.
Paris bought Spanish As heavily on this
rumor and effected a sharp dvanc in
the price. II is probable that the buying
of Americans in London was in part on
cabled orders from New York by pur-
chasers too eager to wait for the opening
here. No account was taken of the re-
ported sinking of an American collier In
the mouth of Santiago harbor. as 1t was
accepted as a measure for b~lockading the
harbor
The rumors Of the destruction of the
Spanish fleet had more effect and prices
advanced b~uoyantly all through the list.
When the bank statement first appeared
there was some pressure TO sell by traders
who make II a rule to always sell stocks
when the banks surplus reserve shows
a decrease. But a better analysis of the
returns soon led to renewed buying. The
use of money reflected in the loan ex-
pansion is a healthful feature of the bust
ness outlook. The closing was active and
strong at near top prices. net gains In
the case of the most active stocks rang
ing between ! and 2 points, and i'm excep-
tional cases above that.
Attention is attracted by the govern
ment statement of the amount of money
in circulation in the country on June l.
which is stated to be 81. $50. SOS. 256, exclusive
of the holdings of the United States treas
ury. This is a circulation per capita of
$2i. 1S. The increase in circulation in May
alone was s33. 1876. s1i. of which ss2. 533. 81
was of gold. For the year the circulating
medium was expanded $3.50. 1s4, 36I. and of
this sl29. 349.9 5s is of gold. The country's
net gold import of nearly 500. 900. 900 I'm
liquidation of the trade balance appears
in the circulation. But that this amount
of net imports of gold comes anywhere
near ehecting a final settlement of the
trade balance of the year is not conceiva-
BILE.
The trade balance for the fiscal year in
our favor will certainly approach S6l0,00O.-
900 compared with the greatest previous
balance of less than $500. 900. 0c0.
Bonds have distinctly shown the broad
ening pressure of idle money seeking en-
ployment in enlarged business and higher
prices. u. $. As. new, have advanced Ia
per cent, the old As Ia per cent. the 2
y per cent, the SIS registered q per cent.
and the SIS coupon ia per cent. i'm the bid
price.