New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-15
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Dealings IN yesterdays stock market were
upon a more active scale and prices sho"eo
u,tle tendency to move in the bear direction. In
fact after initial dealings, the whole list became
strong and ruled higher the greater part OF
the day. final prices giving material net gains
in most issues. The short interest had peeh 50
heavily increased that rally in prices was due.
irrespective OF monetary conditions or specula-
tive sentiment but an announcement of Sl6Oo-
OOO gold engaged for import was the apparent
motive for the advance Values may go lower.
hut the market presents vast possibilities TOT
hear panics When the fight over the money
market subsidies the fall elections VIII ooupt-
less occupy the attention OF professional traders
go that resumption OF the bull movement may
not be actively undertaken until late IN the
season. but in the mean time conservative OPP
orators will purchase stocks on ALI recesslons
and conditions underlying the actual worth OF
securities will grow stronger. Wen-informed
market interests are confident that the year
highest prices have not yet been reached. Stocks
that are now sold by marginal holders ana
timid operators find owners among substantial
interests. The bears say that everybody Is sell
ing, but for every share sold there is buyer
Opening prices were at general recessions. but
nm the decline the shorts covered and rally
followed There appeared also orders from
wealthy buyers while the advancing tendency
induced some commisson-house trading for
time Peoples Gas was notably strong and
Sugar Refining notably weak the last named
selling down . per cent ex-dividend at the
opening. and losing over 3 per cent near the
close Union Pacific issues were strong on div-
dend talk Minnesota Iron and Illinois Steel
were marked down in the early trading. but re-
covered in the subsequent rally. The announce
ment OF gold imports created a better feeling
in speculative circles. while the free offering
Of money at quoted rates. with some loans as
low as 3iz per cent, exerted a reassuring In
fluence upon the people who have been looking
for a money panic. and Influenced professional
traders to cover their short contracts The mar
ket closed strong with sentiment more bullish
than It has been In several days
The net gold imports from January to Sep
TENDER 1, amount to 500, rs. The excess
of exports Of merchandise over imports in the
same time amounts to $3.50 261 .9S7. and with
net exports OF silver there is total balance Of
S366. I29 SCI. The extent OF this countrys credit
abroad may be Judged from these figures and
outside Of the deduction for gold imports OF
500 4OS, 71S there Is very little else 10 be taken
into consideration. With gold imports deducted
the apparent balance in this country's favor is
$274.321 1903 The amount Of interest and divi-
dend payments due Europeans and foreign
selling OF American securities may reduce the
total to 5000 100000. and possibly less. al
though it is doubtful. Taking into account all
offsetting factors, the balance owing the United
States must be heavy. and long as II re-
mains so there need be no fear the local
money market. Gold would be coming in now
in large consignments II the situation required
the metal. In August merchandise exports were
we'll above those of the preceding month. 81,
600 900 more than in the month in 1897
and about S16,0OO00O heavier than in 1896
The excess OF exports imports in value
was $50, 429 $50. against S409S0.445 last year
and $40 132S16 in the year before Exports
were larger in August than in any August on
record and for the eight months ending August
81 the biggest in the history Of the Bureau OF
Statistics Imports in August were larger than
in August year ago. but less than the average
for many years Compared with 1897 imports
since January | are less in value by over $780,
100000.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS-Sales S25, 900 regis
tered As of 1925. at 1878; 81 900 coupon Is OF
1925 at 1914. and s3SSO00 rs (when issued. at
1O56105as Final quotations follow
Bid Asked Bid. Asked.
L De. 30 US. IS. 1904. cou 1921. 1l3k
US. 4s.Iao7r g.ll0's III Us cur 6s. 1899 1928
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