New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-16
BONDS.
THE DAYS OPERATIONS IN STOCKS

The bank statement published yesterday
showed an increase in bank reserve of S4452-
700 an incrt ase In cash of 1881 100 a decrease
in loans of S10355 200, and a decrease In de-
posIts Of $6.4S6,4O0. These figures speak for
themselves. They need little explanation, for
they reflect conditions understood by everyb body
who has followed the course of the money mar
ket in the last week. 1t a most encouraging
statement. and TO doubt 1t will be followed
in the current week and in several weeks to
come by exhibits OF a similarly favorable char
acter
Stock market traders expected favorable
bank statement, and. as consequence. they
were bullish., Bear operators for the time took
the long side of the market and as advancing
prices were unopposed the whole list made
further progress toward higher level The
anthracite shares were especially strong, while
the steel and iron stocks again attracted at
tention. Colorado Fuel and Iron for the first
tims in many weeks. made sharp advance,
but there were no new developments to ac-
count for its sudden activity number Of
people who received tips to buy this stock sew
eral months ago on the report that the COM
pany would be taken in by the Federal Steel
Company. recently sold their holdings at a loss
on the confident belief that Colorado Fuel and
Iron was too exhausting on margins TO make
cheerfulness over It's prospects possible To
sell stock at loss and then watch ii advance
is one Of the touching little experiences that so
often befall the takers Of dead sure tips" The
railroad list moderately active. with good
buying in the more important issues. Brooklyn
Rapid Transit Manhattan Continental Tobacco
and Tennessee Coal and Iron were leaders In re-
spect 10 activity, and the usual bull points re-
garding this class OF stock were generously
circulated. Near the close profit selling caused
reactions from the best figures of the day. but,
as a rule. the greater number Of issues showed
net advances. In the bond department the
demand again heavy. Good investment
end speculative buying was noted in a large
number of issues. while prices made ccnsidera-
bic progress toward higher level. American
railroad bonds are worth buying and no mis-
take will be made in taking the promising is
that are now selling under par
The complete statement of foreign commerce
in March shows total exports in value Of S1O4,-
463,969 and imports in value Of SI2, 49,, 200. or
an excess OF exports over imports OF Sol6o l69
against S51,05S,313 in March, 1898 and S10,-
March last year. the statement is better than
that for any corresponding March on record
and II is made especially favorable owing TO the
heavy increase in exports Of manufactured artl-
cles. For the fiscal year TO March 81, the ex-
cess Of exports over imports amounted In value
10 447,924,372. against S41O,ool,994 in the pre-
ceding year Imports have increased this year
(since July u about S4500O000, while the actual
value Of exports is larger by about S22,OooVOV.
From these figures II will be seen that TINS
country's export trade Is not declining, and that
the decrease in the excess Of exports over i'm
ports is due entirely TO the gain In the import
movement made up Of heavier sugar receipts.
increased imports Of raw materials, and or
larger imports Of luxuries. The foreign trade
statement is q faithful reflection of the business
expansion and increasing wealth or the Unlteu
States, and It ought 10 prove bull factor in the
local security market. Stocks Of some COM
panies may decline because they have been
overbought or advanced to prices beyond thelr
actual worth but actual business increases and
the countrys industries gain in productive
power and healthful expansion. Payments
through clearinghouse last week were ~ per
cent larger than in the same week In 1892, and
103 per cent larger than in the corresponding
time last year. - - .,o
The usual weekly table OF price Changes vi '"'
more active issues follows: