New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-11-19
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Early trading in stocks was influenced by the
expectation that the bank statement "ouIu
make favorable comparisons Actual ngures
showed that the average system returned gam
IN surplus reserve OF So 418,02j, which prac-
tically wiped out the deficit Of the two pre-
cedine weeks The effect OF this excellent ex-
hibit upon sentiment and prices was Marked
especially as the banks showed a heavy decrease
in liabilities in a week when speculation had
been unusually active Operations In stocks
end bonds in the week were large. and the fact
that bank loans decreased over SSGoooo re-
fleets that buying in both departments was
made up in part OF purchases by people VINO
do not use borrowed money in their transac-
tons. owing to the average system the heaV!
amount Of funds received at the close OF the
week on bond redemption account did not Inquire
to any important extent in the statement.
Wall Street does not want an aggressive bull
speculation until the bank reserves are well
above the legal limit but the fact that the trend
Of money Is now in that direction may stimulate
an increased buying demand before the leaders
in speculation are ready for an active bull move
ment AS stocks are In strong hands ana IN
the hands Of interests who can curb an enthusl-
aetic buying movement by playing OUT Stock d
runaway market is not to be feared. But re-
actions Of importance do not appear IN slgnt,
and in case the usual bear literature Is put out
to-day through the usual CndllHelS VI
securities will do well to give 1t no attention.
There is big short interest In the market A
certain number OF market operators including
houses without exchange connections, are imam
cially Interested in seeing a lower range or
values An advance means heavy losses on
their accounts. Not expecting money market
| relief and counting the creduty Of many
| holders Of stocks. the interests named believed
| that they could force a decline and possibly de-
| moraliZe the market. Conservative opinion en-
| courages the belief that stock values will grad
| ually work higher and that barring extraordi-
| nary adverse developments the quotation Level
! will be well above the current range a month
hence.
The volume Of general business throughout
| the country continues to break all past records
Commercial agencies report Improvement in all
lines OF trade. and daily reports Of bank clear
| !ngs and railroad earnings as published In The
| Tribune in the week make Interesting additions
| TO current literature regarding industrial ac-
| tivity The demand for iron and steel products
| IS somewhat lighter but prices not ma
| terially lower. A check to the advance In quo
| tationR in the iron business IL q favorable indi-
| cation for prices have been running up In
| manner that suggested q serious collapse In the
| future II not restrained Mt the level now ruling
Exports are large. cotton is coming forward more
| freely and foreign spinners are buying at ad
| vanced prices With easier conditions In the
| money market and expanding business prosper
| fly no reason exists for bearlshness in the stock
| market In the week money will doubtless come
| into the local banks in large amounts from the
| interior and from the Treasury on bond account
| II is generally believed that a large offering OF
| bonds about SO 100000 will be made early IN
| the week by prominent banking interests. while
! It is thought that the full amount Ct the bonds
| which the Treasury has offered TO buy will FIND
| their way into the Governments hands before
| the end OF the week.
The usual weekly table showing net price change
| In the more active issues follows: