The times., 1899-07-15
WALL STREET MYSHIFIHD
Light Stock Transactions on a
Market of Uncertain Tone.
Standard Hallway and Other shares
Decline - Probable Showing of
Banks in TOday's Statement Monop-
oIizes Discussion-Revived Rumors
of Gold Shipments Discredited.

New York, July 14.-Speculation in the
days stock market was in very light
volume and the trading was marked by
very uncertain tone. The market showed
one technical feature that was a reversal
of yesterdays conditions, namely, that
liquidation clearly outran the new buying
power. The days actual news held nothing
to account directly for the pressure upon
the market, but on the other hand Gis-
cussion was almost wholly taken up with
the probable showing to be made by the
banks in their weekly statement tomorrow.
1t is doubtful whether the rumors, revived
again today, that there would be gold ship
ping by tomorrow's steamships, were really
effective in shaping sentiment. They were
quickly discredited upon investigation at
the leading banking houses, where It was
declared that shipments of gold under the
prevailing circumstances would be out of
the question and expensive, except for
stock jobbing or advertising purposes. The
persistence with which these rumors were
circulated in the face of the prevailing
money and foreign exchange market con-
ditions, however, and the equally ill
founded predictions in regard to the bank
statement tomorrow, indicate that the re-
rather hard pressed for campaign litera-
ture.
There were few statements of railway
earnings submitted today anl by far the
most interesting contribution to statistics
was the Treasury statement of the couG-
try's foreign trade for June and for the
completed fiscal year. The statement was
more favorable showing than the May
report, fo- while imports increased some
hi n 4 Il
less than $1,000 600 in comparison With
juno, 1898. The complete returns for the
year show an excess of exports of mer-
chandise amounting to $3.50 1856, ,037 as
against an excess for the last fiscal year
of $6l5, 432, 676. The excess of gold i'm
ported in the fiscal year amounted to
S51 ,432, ,517, the corresponding figures last
year being S10i, ,9S5, ,2S3. The excess OF
silver exported was s25 521.977, or little
more than last years figures The whole
showing is a really noteworthy one. in
view of the fact that the average value
of our exports of wheat was "a cents a
bushel less than in 1898. and the average
price of cotton was nearly half cent a
pound lower then. On the other hand, the
value of our exports of manufactured goods
increased about Si5, 200. .000,, or more than
10 per cent.
Two of the local transportation stocks
furnished the only conspicuous movements
in the days market. and those were in
opposite Observation-Disclosures Railway
advanced, while Brooklyn Rapid Transit
was weak. The course of the former was
not directly accounted for by any definite
development in the company's affairs. The
weakness of Brooklyn Rapid Transit was,
of course, owing to the apprehensions of
labor troubles. on the system. The abso-
lutely contradictory character of the in
formation published in this respect must
be intensely confusing to the ordinary
stockholder of Brooklyn Rapid Transit and
| the course of the stock would seem to
show his willingness TO escape further dis
| quietude in liquidation. The standard rail-
way shares and the general market sagged
| slowly but steadily from the opening Of
business. London houses sold moderate
amount of stocks in this market. but the
days declines resulted from local liquida-
tion due 10 the noted circumstances. The
bond market was relatively stronger and
more active than the stock market.