New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-16
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market traders were not inclined 10 en-
ter actively into speculation yesterday. The
growing uneasness amopg the speculative ele
ment over the elections is not important as fore
shadowing the outcome of the November poll
ing, for there has never yet been an election
over which Stock Exchange traders have not
been upset and alarmed. 1t is natural and per-
haps wise, however for public operators to
pause pending the Congress elections And pro-
fessional traders are not acting In an unusual or
unprofessional manner in taking the opportunity
to depress prices. In yesterdays transactions
the few traders who made the market doubtless
considered the election uncertainty more impor-
tant than splendid railroad earnings favorable
bank statement and another extraordinary for
eign trade report. In fact there was evil
dence that the last named factors were consid
cred at ALL as the greater part Of the two hours
OF business was taken up with selling Tobacco
stock and swapping Sugar certificates Tobacco
lost over per cent. and Sugar gained p per
cent, while elsewhere final changes were gener-
ally insignificant net losses on very small vol
ume Of business.
The weekly statement Of the Associated Banks
exhibited further increase in cash and surplus
holdings, and a large gain in loans and deposits.
Loans increased S1O00O0OO. The gain was
larger than expected and from the known move
ment Of money not easily explained, although a
part Of the increase doubtless represented the
Improvement in commercial paper market loans
and accommodation afforded the interior for
crop movement purposes. The result 81 all
changes a gain in surplus reserve Of S9lI-
$50 to S19,661. so. against Sl4.61i,50O in the
same week last year and $l1,3l1.l00 in lS96,
The European markets showed a more reassur-
ing tone money easing off in London. and both
British consols and French rentes advancing.
Improvement on the London Stock Exchange
did not extend to the American department,
however in which prices were lower. while on
the local Exchange arbitrage houses sold about
three thousand shares Of various stocks.
The statement Of foreign commerce for Sep
TENDER makes another noteworthy exhibition.
and gives further evidence Of the growing
strength OF the American financial situation.
Owing to fallingoff in the grain movement,
the excess OF exports over imports was unuer
that of the same month a year ago. when gram
shipments heavy, but as compared WIN
August 1898 there was an increase OF about
$4,000 coo And for the year to date the excess
of exports over imports amounts 10 a3o3,ooo'uol'
against S15I iS., 500 in the same time last year
An important feature of the statement Is the
improvement shown in the exports OF manu-
featured articles, which can be ascertaneo by
comparing the decrease in exports or agricui-
tural products. published on Friday WIN 'he
decrease in exports of general merchandise from
ceptember 1897. the result being an actual IN
crease of about S4O00,OOO in exports OF manu-
featured products. AS factor bearing upon the
prosperity of American industries ana the reaon-
ing OF new markets for American soouS' 'ie
showing Is most encouraging 49,,
Changes for the week in hummer OIL ac'iNe
stocks are shown in the following table