New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-03-16
THE, DAYS OPERATIONS IN STOCKS.

THE DAYS OREkAIIONS IN SlCNNN-
wan Street has little reason for its current
unea siness over the winter wheat crop ana the
nrobable yield Of the crops in general this year
The best advice that can be given to intending
b,,vers as 10 this uneasness is 70 hope for the
best and buy stocks when pessimism in Wall
Street is most acute. The cold weather and
snow have been favorable rather than unfavor-
able 10 winter wheat. and it would seem that
whatever damage has been sustained or may
he sustained before the maturity Of the crops
will be offset by the increased acreage planted
and the surplus crop supplies I'm farmers hands.
The intense doubt in the traders minds over the
crops and the monetary situation will not cause
q depreciation in the actual worth OF securities
although II may reduce margins and brighten
Tie small operator into selling. From the pres
ent efforts making to lower prices. II would
seem as n many-in fact. the majority-of the
traders on the Exchange were looking forward
70 an active spring bull movement.
The market yesterday was duh and weak
with dealings poorly distributed. The industrial
shares We're moderately active the manipulated
American Tobacco being feature. The price Of
this stock may well be called fancy. and while
e. is absolutely controlled by a clique Of insid-
ers. il is not improbable that the time Will come
when the insiders VIII countenance sharp
ton. In the railroad list Manhattan and Brook
lvn Rand Transit were active features. the
first named developing extreme weakness and
the latter decided strength at an advance that
carried the price within q fraction Of par About
one-halF Of the total dealings We're transacted In
The unlisted department Of the Exchange, the
only active features I'm the regularly listed
shares being IN American Tobacco, Atchison
preferred. burlington. Chicago Terminal, Fed
eral Steel. Manhattan. Missouri Pacific, North
ern Pacific Reading first preferred ST. Paul and
Union Pacific issues The shifting Of funds IN
connection with the payment on the Alton deal
account caused a hrmer money market call
loans advancing TO 5l2 per cent while time
money exhibited a stronger tendency. OF the
S24OOOO0O paid on Alton account Sl2.OOOOOO IS
due 10 out town stockholders but II is not
likely that the entire amount will leave this
city. as the current price for money offers an
attractive inducement 10 leave It in this market
The strength In the money market caused q
slight decline in sterling exchange.
The official report of the country's foreign
commerce in February shows an increase in I'M
ports and decrease IN exports compared
with February year ago. but despite this the
excess Of exports over imports amounts in value
10 S33 PAIL against S41 S42S04 in February
1898; s2O.5S3.7O In February. 1897. and $57.-
O43 639 in January Of the current year. For the
fiscal year to February 2S the excess Of exports
over imports was IN value S416.2l1,O O7, against
S419.593 6S1 in the corresponding time last year
The gain IN imports ie an encouraging indica
tlon Of the growing buying power Of the coun
try resulting from business prosperity, while the
falling OF 10 exports is too small 10 be Of any
significance at present Upon investigation +
will be found that the country's exports Of man
ufactured articles are rapidly Increasing, ant
that under the wise provision Of the Dinge!
law new markets are constantly being opened t
the manufacturers Of the United States. A re
ducuon IN the tremendous balance Of trade II
this country's favor, owing to improving
home demand for foreign goods. cannot b
twisted into a bear card when our money mar
kets are absolutely independent Of the OK
World and capable Of withstandng any eNtraor
binary pressure that may be brought to bea
upon them An enormous trade balance abroa
is not now needed 40 far as the money marke
is concerned. and a reduction In that balanc
will reflect healthful gain IN imports rattle
than a falling of in the export trade.