New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-18
BONDS
THE DAYS OPERATIONS IN STOCKS

The bank statement published yesterday IS
nrobah,v the last poor showing that the banks
will, make this year Surplus reserve decreased
only SO SIG 375 against S7914.21j a week ago
and cesh holdings S77950oo. against Sl3Voo-
900 last Saturday while loans showed con-
traction Of l213O5 800 and deposits Sl"o3i'' o''
The bank situation is not alarming. In fact' II
Is reassuring. and developments in the last lie"
days affecting the monetary situation should De
sufficient 10 dispel any fear that may exist over
money market conditions. More gold was soio
in London yesterday for shipment 10 this couh-
Try An almost unlimited amount OF the
precious metal can be brought here whenever II
is needed and II is not unlikely that iurther
large engagements will be made this Week
PAYMENTS on bond account 10 the Treasury are
about over and as soon as they are at an end
Government disbursements will begin TO relieve
the pressure of the funds in the Treasury
Government deposits with National banks are
increasing and bank circulation Is expanding
as reflected in yesterdays bank statement
which showed an increase in circulation OF
$4,000.
The stock market exhibited considerable IT.
regularity and uncertainty until the oanK
statement was issued, when prices advanced
throughout the list, Sugar Refining ex-
cepted The last-named stock broke from
1871. to 122ss closing only u per cent
higher The Granger shares were strong on
a fair volume Of business The Pacific issues
were pressed for sale in the early dealings out
subsequently, recovered losses made. For the
week the greater number Of stocks show inn
provement as compared with last Saturday
closing and in speculative circles the opinion
seems to prevail that the market experienced
its lowest prices for the present on Monday
and Tuesday The week closed with sentiment
improved and stocks in strong hands.
An important feature Of the Wall Street mar
kets in the week was an advance in the price OF
wheat accompanied by distinct Improvement
in the foreign demand. While exports are well
under those at this time last year. the shipments
are large. amounting TO 3,007,967 bushels last
week and the activity in ocean freight rates
since September ! encourages the belief that
the demand for export wheat will increase.
The inquiry for accommodation in the grain
carrying trade steamers has gradually increased
since the first OF the month. and recent large
contracts made by shippers with British and
Continental lines have caused marked i'm
provement In ocean freight rates.
The exports Of wheat this year falling
under 1897. and as a consequence the grain
tonnage on the railroads is less. This, how
ever is offset by the increase In westbound
tonnage due 10 the prosperity in the agricul-
tural community. The earnings of the St Paul
company increased for the second week In Sep
TENDER $4,000 over the same week last year,
and another Granger road the Chicago Great
Western. showed for August, in Its report pub
lished yesterday. the heaviest net earnings in
its history. Such returns mean prosperity.
Earnings for the first week in September Of
sixty-two roads give increase of per cent
over the corresponding time In 1897 and above
] per cent over 1897. 1t certainly is a bull
year.
Changes for the week in a number Of active
stocks are shown in the following table: