The San Francisco call., 1899-11-16

On the whole is higher, but the activity was
not very widely distributed and the general
disposition was 70 maintain q waiting sIti-
tuae. pending further Developments IN the
money situauon. There was 10 recurrence OF
extreme stringency IN the local money mar
ket Secretary Cages announcement that the
treasury would buy So ev0. .0OJ OF United states,
bones at the price AZ which they were quoted
or the New York stock Exchange yesterday
was not made until alter the close OF the
stock market The sterling exchange market
was dul but Inclined TO hrmness IN response
70 the hardening OF money rates in London.
"here taete was q special demand on the
market incident 10 the taking up of Govern
ment bills 10 provide for expenses. There
WAS continued demand from stock exchange
sources Tor time money and : per cent
hlc for six months loans where Industrial
stocks figured collateral. Ia connection
with the outlook IN the money market the
october foreign trade statement OF the treas.
ury bureau OF statistics attracted great in=
terest. From this IL appears that slight
falling OF IN the October exports OF agricGl-
tural products compared with last year. due
10 a decline OF over 80 per cent IN the amount
OF cotton exports, Is more than Offset by the
increased exports Of manufactures. that the
total exports Tor the month are over s. 900. ooJ
IN excess OF those Tor last year These figures
are the more significant in consequence OF the
large current demand FOR cotton by foreign
buyers Taking the ten months OF the year IL
value OF agricultural exports is more than
onset by the increase In. exports OF manu-
IacigTes. 50 that the total exports for the ten
months are valued at over s4l. .0c0 IN excess
OF those for the ten months In 1885 The IN
crease In the value OF imports for the same
period OF $3.50. 600 00a leaves the merchandise
trade balance In our favor nearly $50 600 600
less than last year But in the same period
our net imports OF gold have been nearly
Sl22eg 90 less than last year. As & net re-
suit The unliquioated trade balance in our favor
Is S2 2,5S5l0s less than for the corresponding
period of last year. Added 20 this is the recent
buying here for London account OF securities
Estimates of shipments 20 London OF Ameri-
can securities by coming sailings run as high
as 10000 shares Large loans have been placed
IN the New York market by foreign houses
N tne last week or so. obviously with the pur-
pose or deferring demands for gold on foreign
markets But the figures cited give the grounds
Tor the claims Of foreign exchange houses that
there must be a heavy import movement OF
gold IN the course OF a short time
There was moderate activity in the bond
market and price changes were mixed Total
sales. par value. slsl0.Go.
Inited States bonds were unchanged in the
bid Price.
Advices from Washington were received IN
Nail street after business hours announcing
mat the secretary OF the Treasury would rur-
chase 81, ooo 600 of the United States ner cent
bonds OF 1907 and the IS OF 1904 at the prices
ruling. The final bids for these issues on
Noyember u We're 112ts for the Is registered
llS1s Tor the coupon bonds. and III each FOR
the hs. coupon and registered