New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-21
'Ex dividend.
RONDS.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN SIOChS'
The stock market opened strong and closed
strong midday weakness in few issues ana
renewed bear pressure throughout the list ieaV-
ing few important declines in their wake Inc
only active issue in which big net decline was
recorded was Brooklyn Rapid Transit whch
suffered severe break on bear pressure anu
1iouidation induced by reports that some large
holdings had come upon the market, ana mat
the company was in financial difficulties Brook
lvn trolley cars are still running, Brooklyn Is
growing and street car traffic is heaVy. Inc
future Of Brooklyn Rapid Transit Is most prom
isng and its stock will develop into an invest
want iesue AT no remote period, despite the
speculative efforts on paper to force the COM
pany into a recevership. The break IN thls
stock exerted a sympathetic influence upon Ine
rest of the list for a brief time, but before 'he
close the upward movement was resumed ana
RrookIvn Rapid Transit recovered more than
four points Of its loss.
The money market rose as high as per cent,
but IN the greater part Of the day II ruleo
around 6 per cent, with the closing at per cent
The inherent strength Of the financial situation
is reflected in the with which the money
and stock markets have righted themselves IN
the last two days.
Easier financial conditions abroad are bound
10 have an appreciable influence upon local
sentiment and prices and 1t is therefore encour-
aging to note as an indication Of the strength
OF conditions here. that this country is supply
ing the means by which London Will increase
its gold supply The foreign situation mas an
important influence upon the local situation ana
the expectation Of gold from this centre Is IN
consequence bull factor. Current gold exports
represent loans not the settlement OF deots.
The actual position Of the Bank Of England does
not call for assistance. and the present strength
ening Of reserves through gold receipts from
Germany and the United States reflects precau-
tonary measures rather than emergency meas
tIres. The Bank Of Englands proportion OF re-
serve to liability week ago was 42as per cent.
while to-day's statement ought 70 be better.
The. Bank is not threatened with embarrass-
ment. and the London financial situation is not
unsound or in any way like the situation Incl
dent TO the Barring failure nine years ago. Boer
victories will not bankrupt the Bank Of England
any more than bear attacks will weaken do
nestle institutions. In all the foreign financial
centres successful efforts have been made to
eliminate weak features. while in this city the
enormous loan reduction and stock market liqui-
dation in the first half of the fiscal year speak
more eloouently than words Of the improvement
that has been effected.
Domestic and foreign markets are sound ana
equal to any emergency. After the first OF the
year the increase in money supplies at this
centre should be rapid, and II England should
win few decisive victories In the Transvaal
there may be some spectacular movements in
the stock market. The bear element, or al least
a part OF 1t, is still hoping for lower prices. and
its attacks upon Brooklyn Rapid Transit stock
will doubtless be supplemented by efforts in
other parts OF the list before steady bull move
mont materalizes Strong men, however. are in
control of the situation. and 1t does not appear
probable that there will be any change In condi-
tions that will induce the more substantial In
terests 10 loosen their hold on the market. Pros
neritv has not run it's course. An indication OF
his Is seen in the steady gain in railway earn
,ngs and in Yesterdays developments the in
crease by the New-York Central In Its dividend
rate to a per cent basis
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS-Market strong. Final