New-York tribune., 1899-07-18
BONDS.
THE DAYS OPERATIONS IN STOCKS

Activity in yesterdays stock market was con-
nned to the leading speculative issues oeai
traders doubtless intended to hammer Prices
,rovoke uouidation and demoralize sentiment
hu, as nr,ces refused to yield under the bear
hammer liquidation was not in evidence ana
sentiment was not demoralized The Brooklyn
Rapid Transit strike and the possibility OF soio
exports this week were the chlet tac'ors III
h.ar calculations. but neither Of the two had
any important effect upon quotations. oheh'
frac,ionaI declines we're made in the greater
number of issues. and in a few instances max
,mum declines were much as one point ana
over The strike situation in Brooklyn did not
assume the gigantic proportions that certain
hear traders had predicted, and about the only
selling of Brooklyn Rapid Transit stock came
from the shorts and from lightly marglned
commission house traders II the strike has
been engineered for the benefit OF spectators
and politicians 1t bids fair to do more damage
20 the interests named than to the company's
securities At the close Brooklyn RAPID IRAN
sit showed a net loss Of Is per cent whiie lIs
last sale was accompanied by the discouragins
news for the bears that cars in Brooklyn were
running on time.
The strength Of the money market abroad and
an advance in demand sterling caused renewed
talk of gold exports this week 1t Is not I'M
probable that gold will go out in response 70
ruronean demand forced by actual foreign
necessities but such shipments will not be
warranted by local exchange market conditions.
A renewed foreign borrowing demand at this
centre will take out gold that can well be
snared while II will serve TO increase the cred
its of this country in Europe. If an urgent de-
wand arises the call upon the holdings Of the
local institutions will advance money rates to
noint that will attract large shipments Of money
from the interior, and uneasness should
therefore be felt If gold again begins to move
abroad When the European markets reach an
easier position-which they certainly VIII do
unless political uncertainties develop into reah-
ties involving war-this country will doubtless
begin to call home funds that may now be sent
abroad. AS long as the merchandise balance
continues to expand IN favor OF the Unlteo
States and as hong az Europe has lew, II any.
American securities with which to houidape
that balance gold exports are not Significant.
except as an indication OF the immense wealth
of this country and the influence it now exerts
In the money markets of the world.
Transactions for the short account In yester-
days market general throughout the list
of active stocks, but they were void OF any
effect beyond insignificant declines Brooklyn
Rapid Transit was naturally the centre Of In
terest, and the opening was lioih LIZ uo"n ~
Ill after which it sold as low as HOS. al
though recovering a good part OF the loss be-
fore the close. Burlington Rock Island 81
Paul, Atchison preferred Missouri Pacihc Ten
nessee Coal. Sugar and Manhattan were active
AZ fractional losses. Manhattan at times de-
yeloped considerable strength. and reports were
again current that some important announce
ment would soon be made regarding the future
of the Manhattan company. In the afternoon
the entire list became strong. In many in
stances early losses were recovered. while final
net declines were seldom above fractions AS a
whole. the market ended with prices at about
Saturdays closing level.