The age-herald., 1899-08-12
FINANCIAL REVIEW

r1NANtlAb hbNfE"
 New York. August 11.-Bradstreet's finan- cial review tomorrow will say:
 rather bullish temper prevailed this week, in spite of the continuance of narrow professional speculation. slight relaxa- tion of call loan rates. which though by no means general nor to all appearance assur- edly permanent, resulted in quotations of 215@3h per cent. toward the end of the week, had a good effect and supplemented
 the favorable conclusions of Wall street about the crops and their results in con- nection with railroad traffic and earnings. There was a disposition to take an exag- gerated view of the significance of the sec retary of the treasury's order to resume
 the issue of gold certificates to the extent
 of $10,000,000. The plausible view of this matter is that it is an experiment which, if successful in relieving the demand for
 notes, will be followed by a return to the
 more or less unrestricted issue of the cer-
 tificates in question. The market, how
 ever, was influenced for a moment by un-
 founded reports that the plans of the treas
 ury included an increase in the govern
 ment's national bank deposits or other
 measures calculated to help the money mar
 ket while subjected to the pressure of the
 crop movement combined with the aug
 mented demand arising from the activity
 of business. Increased interest is shown in
 the condition of western banks and in the
 question of how far they can provide the
 money needed to harvest and move the
 crops without any large demands on New York for assistance, the matter being en- DhaSlZeQ DV the fact h Ia amounts of money from other cities are said to have been loaned in New York this week.
 The further decline in exchange referred to elsewhere and the probability of gold imports as soon as the autumnal grain ex- port movement begins, was an additional reason for the increasing indifference with which Wall street rgarded the question of higher money rates as an obstacle to a further exhibition of bullish speculation Consequently the firmness of time money which has been held at 412@5 per cent, had decidedly less influence though in con- servative quarters the necessity of caution is urged in view of the high prices for se- curites and the probability that money will command permanently better rates Lon don was hardly a factor in this market ex- cept so far as the action of it's money mar ket influenced the financial situation here The foreign transactions in our stocks were about equally divided between buying and selling, and amounted to little. Activity on the part of commission houses was re-
 strioted, indicating that the public share in speculation is rather unimportant though toward the end of the week there appeared to be some renewed buying from that source. Pool operations in some of the leading stocks and specialties furnished oc- casion, however, for nearly all the activity the market exhibited and in most cases where efforts were put forth to advance
 stock, following of buying orders was secured. In spite of. its strong undertone. the market has been somewhat spasmodic and irregular and in the bond market the combined effects of higher rates and ma- | nipulaters produced some concessions. par- l ticularly among bonds bearing a low rate of interest but which sell at high figures.