New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-12
REACTION IN STOCKS.
DUE TO PROFIT TAKING.
NO UNAVOIDABLE DEVELOPMENTS IN
THE GENERAL SITUATION
THE nAy,s OPERATIONS IN STOCKS.


A halt to-day in the upward course OF s''oAs
was not disappointing and was "i''o"'
,,ecance II was natural that an interruption
should come The advance had proceeueo '''
ontire week and had caused profits TO accumu-
late until the impulse TO secure theh was Wv
..roro 70 no repressed. For another thing u
was not known what the character or the s'o0A
rarket might be: it might be such as to cause
nm important shrinkage in balances IN ohs aO
counts wherefore operators quite generaiy
made sales for the purpose Of realizing lheee
coles were made in the early trading. ana re-
shifted in a setback that extended pretty nearly
throughout the list. The absorption or the
.,ocks offered was SO prompt and the new de-
wand was so good that the loss in values was
subsequently made up. for the most part Inc
tome Of the market disclosed no deterlo1auon'
and there was nothing to indicate that the
rause in the improvement in prices was more
than temporary.
u 20 not easv 10 say what the bank state
ynent will show to-day. It may be that reduc-
ton IN deposits will be reported out OF TOWN.
hanks have been considerable lenders or money
here In the week In some cases 'he! nav
hrawn upon their New-York balances ana
IN others they forwarded cash TO 'h''
pentre TO be turned over to borrowers
Accordingly. as such money was pro0a-
INV deposited. the amount of cash IN oahhS
NAV be increased Il is not unlikely that there
has been a contraction in the loans OF the Asso-
c,ated Banks but # there has 1t presumably
has not been large The trust companies are
understood TO have been fairly liberal IN the
matter Of loans. but their operations VIII appear
IN the bank statement only as their deposits IN
Clearing House banks have been affected Ger
tainly the money situation is far better than II
was and Furthermore &c likely 10 become stn
better.
Tho Government monthly crop report was
without appreciabe effect on stocks It was
about what IT was expected 10 be as regards
spring wheat and perhaps little better than
expected as regards corn The shortage in
wheat. both winter and spring. has been more
than made I'D by the receipts Of old wheat
from farms The immense prospective Weld or
corn follows three large crops. one the great
est on record. There will be an abundance OF
corn, as Of wheat. for export The crop situe-
ton Is practically all that could be desired It
assures the grain carrying lines Of large grain
tonnage for n year TO come, and It likewise In
sures q continuance of the balance Of trade IN
favor Of this country and against Europe
Most Of to-day's call loans were made az 3 70
BIZ per cent. and the closing rate was ~ per
cent which was the lowest rate Of the day. II
looked as If the stiffness in money had come TO
an end, and II this was 80 It implied that. full
provision had been made for moving the crops.
There was a tri1e more frmness IN sterling ex-
change. but this was due to the easing Of
money more than anything else Certainly
grain and cotton bills, the latter being futures.
are piling up very rapidly.
Closing prices Yesterday Of the principal &C
tive securities and net changes from Thursdays
last sales were: