New-York tribune., 1899-11-16
RONDS.
THE DAYS OPERATIONS IN STOCKS

S,ock market trading was made up In great
mart OF the transactions Of professional udo''
public buving Of securities was IN eVloehce vi
,.ordav hut the failure of the sterling exchange
market to decline to the gold Importing Poi"'
and the continued frmness in money rates ois-
couraged a renewal OF public interest on lues-
day and yesterday as we'll A sus'ai'eu puS
ing movement apparently is out OF 'he que''''"
,rtr monetary conditions begin to run in favor
Of lower rates for accommodation. Cohul'iois
are getting nearer to such situation every day.
and Yesterdays developments in the hnahcla
world suggested that the backbone or ueh'
,,ore1, had been broken. Easier rates in the
afternoon received a ready response in securl-
ties values Early losses were recovered, ana
Of the close the greater number Of issues showed
net advances as compared with Tuesdays maj
level. Strength in the foreign markets and puy
ing on balance for European account heipeu
prices and sentiment.
The exports of general merchandise III Octooei
were larger than in any month IN the year anu
with the exception Of November ana Dece"oei
in 1898, they were heavier than in any one
month on record Imports amounted In Value
70 SO 7O5 1874 against S72S20, 146 in March, the
heaviest month Of the year. total only eX-
ceeded by July and october. Compared WIN
October a year ago. imports increased IN value
500 356 36S but. despite this enormous gam the
excess OF exports over imports was In value
S54. .O5S 500, compared with an excess or $780,
21O037 in the corresponding time IN 1890 ror
the ten months of the year the total excess ol
exnorts over imports Is 1870. SCI. 1871. In the
same time exports have Increased SlZl,344'o'9
representing in great part gain in exports of
manufactures. Imports show for the perlon
named an increase in value of $13O646'64S.
90 for
81 has never before been equalled in any simi-
lar time in the history of the country, while
with the exception of the ten months ending
October 81. 1894. imports for the calendar year
10 October 81 have broken all records
The heavy gain in imports reflects prosperity
The heavy increase in exports reflects pros
perity The excess Of exports over imports
shows that the United States has grip on the
international exchange market that Foreign
countries cannot break, and that this country Is
rapidly becoming the clearing house OF the
world With the current enormous trade balance
in our favor, with increasing disposition
among foreign investors to buy American secu-
rites and with prosperity general throughout
the land the present monetary troubles at thls
centre sink into insignifcance as important
or disturbing factors. II money supplies were
scarce at this centre because of gold exports
and boarding incident TO fear and business de-
preston; If the country at large were poorly
supplied with funds. and IL foreign trade bal
ances were in EuroDe's favor, then high rates
for accommodation might well induce liquida-
tion Of stocks and bring about decentralization in
the financial markets. The statement OF for
eign commerce for october will encourage In
vestors TO maintain firm hold of their posses
sions 1t will influence investors TO add to their
holdings and induce substantial market inter-
ests TO increase their speculative lines in order
TO take advantage OF the higher prices that
sooner or later trade conditions must bring
about