New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-11-14
High. Low. Novie Nov5 Cses. Sales.
THE WEEKS OPERATIONS IN STOCKS.

THE WEEKS OPERATIONS IN STOCKS
In order to appreciate fully the significance O.
last weeks securities markets, the recent condi
ton OF sentiment regarding the silver question
must be taken into careful consideration Ano
Il is also necessary to bear in mind that despite
the material progress made in this country II
the last two years capital has moved with zeal
and trembling under the banefui influence OF
>anatical threats TO depreCiate the value or oul
dollar and the prolonged uncertainty regarding
tho outcome Of silver agitation in this country
Then 10 form a clear idea OF the force underiy-
ing the movement Of securities values last
,eek the past efforts Of a Populistic Senate to
destroy values must he brought TO mind. while
the radical change assured in the characte- OF
the Senate on Tuesday must b" examined II the
market follower would gain an insight into the
encouraging factors responsible for current W all
street. activity The fear of unsound currency
legislation and the possibility Of no CESSATION
tending to improve the currency situation have
been live factors in business and financial un-
der;akines for several years They have hin
dered free mo, ement % capital at home. and
shaken confidence Of foreign nations in our in
stitujions They have repeatedly upset securi-
ties values. and more than once have interfered
When the importance OF Tuesdays elections
IS fully realized business in this country should
hum" Certain Senators whose public life has
been a menace to the prosperity OF the United
States have been retired to private life. The
sirongholds of the free-silver heresy have been
weakened For the first time in many years the
Congress of the United States represents the
sound money element in this country. And
there can now be no doubt that the sound
money element is too powerful To be overcome
in future elections. As far its success Is
concerned the silver cause is doubtless dead.
1t may and doubtless will. continue TO be the
slogan Of the Democratic party but as a force
in affecting the industries Of this country il ap
pears To be hopelessy buried. What is then TO
interfere with business and stoc.. market ac-
tivity? The financial horizon is clear and filled
with promise. The cOuntry's crops are plenti-
ful and the foreign demand for American
breadstuffs is urgent trade balance already
heavily in our favor grows stronger daily, made
up not only of cereal exports. but a rapidly ex-
panding movemen. OF manufactured articles
Money is in abundant supply at this centre and
throughout the country and the possibility of
stringent rates for accommodation is precluded
by large credits abroad.
In many respects last weeks securities mar
kets were the most notable In many years
English buying Of American stocks and bonds
for Investment was an incident Of importance
Home buying for the investment account was
enormous. Transactions in railroad bonds broke
all records for single-day transactions. and for
the week-hve days-amounting in par value
TO S33 213.oOO. against S32.JOOOOO in the week
ending February ). 1895. the heaviest preceding
weekly record In stocks the best record OF
total transact tons not reached. but more
individual issues were traded in than ever be
fore in the history OF the Exchange ON Friday
1863 issues were traded in. or twenty-five more
than were ever dealt in before ON any one day.
The aggressive strength Of the market. result
ing from full appreciation in Wall Street OF
the far-reachng influence Of Tuesdays elections
was effective IN inducing large volume OF
buying orders from beyond the limits OF the
Street. and while enormous realizing sales took
place offerings we're SO well absorbed that prices
closed not far from the best figures of the week.
THE MONETARY SITUATION.
The weekly bank statement showed. as ex-
pected further falling off in cash and surplus
holdings. due in part 10 the return OF Govern
ment money TO the Treasury and as far as
caused 10y a heavy gain in loans and the re-
sultant gain in deposits. Money on call was
more active. lending at the Stock Exchange as
high as per cent and low as i11 per cent
Banks and trust companies quoted IL. per cent
the minimum until Wednesday, when the rate
was advanced TO per cent. Time money was
3n better demand. with rates az ~ per cent for
sixty days. per cent for three and four months
and 31s per cent for six months The demand
for commercial paper continued moderately
heavy and offerings were larger Rates were 3
per cent for sixty to ninety day Endorsed bills
receivable, 3i4u+ per cent for prime and 40j
per cent for good four 10 six months single
name paper In Europe money rates remained
practically unchanged, except in Berlin. where
the Bank OF Germany advanced its discount
Tude from 70 81 per cent
The foreign exchange market easier az
Ter the election, due to an Increased supply Of
commercial bills and European buying Of stocks
in this market The buying Of investment ster-
ding was lighter and on Wednesday a slight
furry In money rates Was followed by mod
crate unloading by operators IN exchange.
BANK EXCHANGES AND STOCK SALES.
The bank exchanges Of the New-York Clearing
House ara he stocks sd M ne New-Yofk Stock
Exchange iast week ana FOR the same week 81 the
preceding two years compare follows
ST.. g. 90 No,. IL 81. Nov ~ 'ss
ENoiare.s ....s1IS sa: oo3 20 ss47 ias 5o7
Nanter shares 49,. i.ss9lz Lsji.7s2 27il9is
RAILROAD AND OTHER STOCKS.
The following j. the usual table giving t,s nun-
ber Of shares 81 az stocks dealt in last week. NE