New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-15
BONDS.
TIE DAYS OPERATIONS IN STOCKS.

~ ,uotasions in Yesterdays stock market
oak in response TO lower prices abroad.
,u, rally at the close caused recoveries In the
- ac,ve issues with unmportant net
.~aness as compared with Fridays closing.
r-onsactons were a fair volume OF business
DIV half holiday and it was said that the
trv,ng on the decline was Of an excellent char-
sc,er There was. however little puphc sup
-, while timid traders sold owing to the fear
,hs, an unfavorabe development in the progress
=, the war might arise before tomorrow. a
strengthening influence at the close was founo
:, the bank statement. which exhibited further
.,a,sons 70 local bank holdings. OF the total
sales the greater number were furnished py
Sugar Refining. American Tobacco. the leading
granger shares Manhattan and Union Pacihc
rrsfsrred As rule small net losses were
shown.
The London market was more interesting than
our own owing to its reflection or the speech
O. Mr. Chamberlain at birmingham on FRIDAY
night The speakers statements douotiess gave
,o-s,sn bankers considerable food for thought,
.,s tho doubts expressed by Mr.. Chamberlain
promptly found expression In securities prices
British consols, French per cents ana Ameri-
can stocks were weak and lower. ana IN the
local market arbitrege houses sold ABOUT ON"
shares Probably the reason why this market
e,gn weakness came from the unwiingness OF
traders 70 indnlge in aggressive selling pending
the outcome Of the expected meeting OF Admi-
raj samnson's fleet with tho Spanish squadron
The way the public responded to the Manila
,.,o,orv has made the bears extremely cautious.
- Admiral Sampson meets and defeats the cape
yerd feet as every one expects prices certain
" ought to repeat their course OF last Monday.
The weekly statement OF the associated banks
explains the reason for a return or the money
market 20 a more normal basis. Owing TO the
release of funds held in expectation OF some
great emergency as the result or the war; loans
are beginning to expand on legitimate oemaho
ro- business uses and stock-market purposes.
OF the new loans made in the week the proper
ZION ,ssued on commercial paper rose 10 45 per
cent, against % per cent In the preceding week
and Is per cent two weeks ago. AS compared
with the week ending on May l. loans increased
So 5S7. 900 and deposits increased S1,l0oooo The
changes in the interior currency movement IN
favor OF Nevr-York together with gold receipts
from, abroad were reflected In an Increase In
cash holdings OF nearly $5,OOOOOO. The result
OF all changes was an increase In surplus re-
serve of S3OSOi5O to S46997,225, against S44.-
40 200 this week year ago and S1S517,375 at
the same time in 1896.
The advance in the price of wheat In the week
was based upon substantial grounds. as shown
IN the record OF exports as compared with the
same time last year The foreign demand was
even greater than expected, the Increase in ex-
ports over the same week year ago amounting
10 LAP 900 bushels. The reports or the COM
p,ercial agencies for the week suggest no cause
for encouragement and adequate reason for
cheerfu!ness Bank clearings and railroad earn
.ings show pronounced Improvement
Connarea with a week ago the chief active
stocks show the following changes: