New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-11
THE WEEK IN WALL STREET

Money rates were higher last week expecta-
.ot ,,d hank statement were general and
+he rransvaal situation assumed serious az
-. IN view Of these factors declining stock
-,orla4 1hroughout the week would not have
D.or surnrising As It was however. prices
,bowed decided frmness the greater part or the
week with many sharp advances recorded WINE
the actual volume Of business was large Tor the
account 81 bull pools and commission mouse
traders The chief adverse influence or the
ueek was the money market but the fact mat
conditions underlying the market were souhd
and solid prevented real uneasness ana hQulda-
4ion Transvaal affairs were seized upon by
hear traders as adequate excuse for selling the
market short: but short sales were not followed
by important liquidation the greater part OF the
weeks selling representing realizing. pear pres
sure and small sales by timd holders Inc
main factors governing the actual worth OF Sc
cur,ties moved on in their almost monotonous
Improvement. Railroad earnings continued 10
break records. bank clearings increased daily
and general industrial and financial conditions
made further cheerful exhibitions
The last report Of the Treasury Department
showing the amount Of money in the country
exclusive Of Treasury holdings furnishes re-
nevod evidence 81 the strength Of monetary
holdings in this country Compared with Sep
ternber / 1898 the amount OF money in crcula-
cion has increased S15OOOOOeO. and as the cash
reserves Of the New-York banks are only SO
600 600 more than they were a year ago the In
terror must hold upward OF S13O0DOO more
than Il held al this time last year. The demand
upon this centre for funds this fall is not likely
10 be heavy and current Withdrawals from the
banks are IN great part FOR the account OF the
Treasury. the loss on Sub-Treasury operations
last week amounting 20 81, 254. 900 1t is under
stood that the Secretary OF the Treasury Will
soon Issue an order permitting the local banks
70 retain on deposit internal revenue receipts at
this centre Such an order will materially add
70 local bank reserves and more than offset the
shipments for interior account. Az current
activity IN money reflects trade expansion the
chief holders OF stocks not worrying over
the monetary situation. The intrinsic value Of
securities ia increasing, and while higher rates
for money may check an active bull speculation
in stocks II should not cause declines in values
or hearishness in the street.
Gold imports can be made whenever the neces-
stiles Of the situation require such assistance.
Despite the sale OF American securities for for
eign account ana the heavy expenditures Il
Americans abroad this year the balance IN
favor Of this country must s,iN - large And
there Is indication that the trade balance
VIII not continue 70 expand. Exports Of wheat
last week from Atlantic ports We're 29Oo 966
bushels against 23251OO bushels IN the same
week last year and Of corn 3O51 $50 bushels
against . 431 0N5 bushels a year ago General
merchandise exports are heavy and the whole
world Is now buving the products Of our manu-
LECTURERS. Made IN America" IS now a greater
trade recommendation than made in Europe"
The rise IN the price OF steel and iron cannot 50