New-York tribune., 1899-08-11
sE2 dividend
BONDS.
THE DAYS OPERATIONS IN STOCKS.

1~ba Stock Market was moderately strong IN
tbe greater number Of issues, with pronounced
s,renrth in a few Of the more active shares
and in some Of the specialties. An easier ten
6ency was again noted both In the Iocal anu
1-uropean money markets. The Bank OF hns-
land did not raise its minimum discount rate
large offerings Of funds were made IN tlis CITY
nv out Of town bankers and hopeful predlctlohs
on the future Of money were heard IN DdhhIis
parlors All Of these factors encouraged the
speculative mind to take a more encouraging
view of the situation and incidentally they
led the shorts TO cover their contracts at ad-
vancing prices. Short selling In this market
promises 10 result in disaster. Despite the de-
mand for money in mercantile centres ana 'he
low position OF the local bank reserves the
money scare so-caled. has. for the time run
its course without accomplishing the results so
ardently desired by the professional pear ele
ment on the Stock Exchange The easing III
rates Yesterday and on Wednesday may not De
followed by q soft money market WhlIe hl6her
rates before the end of the season are not I'M
nrohable but LIQUIDATION in stocks on account
of monetary conditions does not appear IN slshl.
If lower market values should be brought
about by professional selling ana weak hoIueis
liquidation in the rest Of this month there would
he q rapid absorption Of all offerings py tine
present biggest owners OF stocks; Inc more
Important market interests are hololhs ana
demand for securities before the end OF the
year and in consequence they evidently DO not
intend 10 sell at present bargain prices. The
whole course Of the market in the last SIX weeks
has reflected a strong disposition on the part OF
prominent leaders TO work for higher prices by
cultivating a sentiment of confidence among
the public and by holding fast to their posses
sions in order TO take advantage or the puDnc
demand that some day must carry prices mate
rally higher. The public has an abundance or
confidence in underlying conditions, but 1t ap-
o6xrf NAL kQ a
1t is waiting for cheaper money The chances
are that the public and everybody else will be
forced 10 pay for money this year, and by de-
grees become accustomed TO per cent rate
for call funds. In days Of prosperity everything
is expensive. Money cannot be excepted
Commission houses were a trife more active
yesterday. Good support from inside circles was
noticed in many issues, notably in Tennessee
Coal and Iron, United States Leather preferred,
Colorado Fuel and Iron, Peopless Gas. Southern
Pacific and Reading issues. The industrials were
strong features especially the iron and steel
stocks and United States Leather securities. The
volume Of trading was heavier than on any other
day this week and toward the close sentiment
became very bullish The August Government
crop report shows the following averages OF
condition on August /: Corn S9.9 per cent;
spring wheat $50 per cent, against 9l.7 on July
and oats 90.S The average condition Of corn
improved 34 points in July, and on August ! II
was % points higher than at the correspond
August l. 1897, and 80 points above the mean
of August averages for the last ten years. The
condition Of spring wheat indicates yield Of
234 600 900 bushels, against 29j, ,344 ,114 last
year. The condition of corn indicates a yield
Of 222, 100000 bushels