New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-04
BONDS.
THE DAYS OPERATIONS IN STOCKS.

pronounced degree Of strength was oeVei-
oped by the stock market yesterday. IL was
In q measure a reflection Of the inception or the
import movement OF gold, but had Tor us loun-
aat,o, +he favorable outlook for the crops and
the widespread movement in Industrial lines.
II is considered probable that further engage
pents of gold for shipment to this country o!
sbips sailing from the other side on SATURDAY
will be announced to-day or Tomorrow Whiie
sterling exchange may be described as STEADY
there is no prospect OF an advance 10 interrupt
the flow Of gold from Europe. AS ract. there
"a not much doing In the exchange market The
gold that has begun to come this way Is IN set
Element Of old obligations and the exports OF
wheat and cotton, which must soon become
large. cannot fall TO accelerate the gold move
ment
Europe, already large borrower here couio
extend its credit II 1t should desire to do so. but
It is a question If il will do so. at least TO any
great extent While the United States has
superabundance Of money. the need for moving
the crops and for the expansion of general ousi-
ness is likely to cause a small Improvement III
money rates. as. indeed. is usual every 1aii 50
that It will probably be quite as cheap Tor Eu-
rope to settle debts here by sending gold as 10
procure loans here The estimate that SlOo'-
100000 in gold may arrive from Europe before
the year is over is said to be not excessive
II ANYTHING the crop outlook is growing daily
more satisfactory. The rains IN the western
corn belt have repaired much Of the damage
caused by the dry spell. and the calculations as
TO the yield Of corn have been materially raised.
The wheat crop Is safe. 1t will be a gooo-sizeo
one. Reports as TO the foreign crops are less
favorable, which enhances the market ABROAD
for American cereals AS the home reserves OF
exhausted
there will doubtless be free exports OF the new
crop II is fair to presume there will be sub
stantial increase In the price Of wheat, so that
the farmers will readily part with 1t. Despite
the low price for cotton, II Is agreed that II VIII
come forward promptly. owing to the reduction
IN the cost OF production.
The Industrial shares were again the leaders
in speculation In point Of activity, as well as IN
the amount Of their gains IN prices They are
of course affected by the better order OF things
in commercial and manufacturing circles Inc
tndustrials in which the dealings were heaviest
were American Sugar, American Cotton OIL.
American Tobacco. National Lead. United states
Leather preferred and United States Rubber
The Granger shares were in request on the
crop prospects. which insure for the roads
tensive fall and winter business. The buying
was notably good in Burlington and Quincy ST.
Paul Rock Island and Chicago Great western
The last named road has taken its stand among
the substantial Granger properties. and there
has recently been a large absorption OF the COM
pany's securities by people who understand the
unfailink earning capacity OF the Granger roads
Like the stocks OF the other Changers. there Is a
ready market for the issues Of the Chicago
Great Western which makes them attractive TO
spectators as we'll as 10 investors. There was
also an eager demand for the Northern Pacific,
Union Pacific and Atchison issues.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS.-Sales. $4,000 cou-
non As of 1907 at ILL., and S278.0OO IS (when