The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-11-16


large absorption by banking interests,
in the Coalers ON the good condition in
the anthracite trade, and in the Atchison
stocks.
The level of prices on the whole is
higher, but the activity was not very
widely distributed and the general dis
position was to maintain a waiting at
titude pending further developments in
the money situation. There was no
recurrence of extreme Stringency in the
local money market. Secretary Cages
announcement that the Treasury would
buy So, 100000 of United States bonds
at the price which they were quoted on
the New York Stock Exchange, was
not made until after the close of today's
market
The sterling exchange market was
dull but inclined to firmness in response
to the hardening of money rates in
London, where there was a special de-
mand ON the market incident to the
taking up of the Government bills to pro-
vide for war expenses. There was con-
tinued demand from stock exchange
sources for time money, and seven per
cent was bid for six months loans. where
Industrial stocks figured as collateral.
In connection with the outlook in the
money market the October foreign trade
statement of the Treasury Bureau of
Statistics, attracted great interest. From
this it appears that the slight falling
off in the October exports OF agricultu-
raj products compared with last year,
due TO a decline of over thirty per cent
in the amount of cotton exports, is more
than offset by the increased exports of
manufactures, SO that the total exports
for the month are over $S,00000 in eX-
cess of those last year. The figures
are the more significant in consequence
of the large current demand for cot
ton by foreign buyers. Taking the ten
months of the year it appears that the
decrease of $37, 100000 in the value
of agricultural exports is more than off
set by the increase in exports of manu-
factures, so that the total exports for
the ten months are valued at over SAL
O00,000 in excess of those for the ten
months in 1898. The increase in the
value of imports for the same period
of S13O,00O,000 leaves the merchandise
trade balance in our favor nearly $780,
0O0,000 less than last year. But in the
same period our net imports of gold
have been enarly $122. 100000 less than
last Year As q net result the unlqui-
dated trade balance in or favor is
$50, 573, 500 greater than for the CORE
spending period Of last year Add to
this the recent buying here for London
account of securities. Estimates of
shipments to London of American securi-
ties W coming sailings run as high as
100000 shares. Large loans have been
placed in the New York market by for
eign houses in the last week or So OBJ
viously with the purpose of deferring de-
mands for gold ON foreign markets. But
the figures cited give the grounds for
the claims of foreign exchange houses
that there must be ii heavy import move
ment of gold in the course Of short
time.
There was moderate activity in the
bond market and price changes were
mixed. Total sales (par value) 81 ,610,-
600.
United States bonds are unchanged in
the bid quotations.
The total sales of stocks were 467.-
300 shares, including: Atchison, IT.
1913; Atchison preferred "a $50: Chicago.
Burlington and Quincy, -9.400; Manhat-
tan, 81 ,095: New Jersey Central. $3.50:
Missouri Pacific, $3.50; Chicago. Mil
waukee and St Paul. $500: Southern
Pacific, 124.391; Union Pacific, 500;
American Steel and Wire, 1910; Amer
lean Tobacco. %. 100: Brooklyn Rapid
Transit. 22.9J5; Federal Steel. $3.50:
Pacific Mail $3.50; American Sugar. 3D.
210 United States Leather. 9,7J5.