New-York tribune., 1900-08-24
BONDS
TEE DAYS OPERATIONS N STOCKS.

The stock market was excessively dull again
Yesterday and the changes in prices were un-
ir,nortsnt Prices were fairly well maintained.
TIE business was wholly professional. and most
=. Il consisted q scaIping by room traders
There vas no attempt 10 promote q movement
n one direction Or the other. either in the
market as e whole Or in individual stocks. The
public has rot recently taken any hand in spec
Ulatson. and Il Is not likely 70 for the present.
There Is 100 much uncertainty in the future.
Not onlv that. but TIE prospect IS that values
vil for tine pursue q declining course, and
Il e the practice Of the public 70 stay out Of
the market when stocks are going down. II is
when AZ advance IS in progress, and usually
when Il Is very nearly over thai the public
steps in Furthermore. It is the habit Of the
pubic 10 hold the stocks il has bought until
they show a loss and then 70 sell
The stock market IS rejecting little more
usrcepttbly the probability as 70 money IN the
nexr tvo or three months. Since II became
apparent that the payment al this centre in
REDEMPTION Of the called per cent Government
bonds would nowhere nearly reach the proper
rions expected the disposition OF the rates for
money has been 70 harden; indeed. the bulk Of
the loans OF call in the last two or three days
have beer made at az advance OF e quarter per
cent for The accommodation For some unac-
rDuEE6E-E reason LlE lO~lCl prevailed En2L pTaC-
Ideally The entire amount Of the called bonds
would be redeemed az New-Y0rk. and that
Hsw-Yo-k. accordingly. would be almost del
uged with money. The fact IS the bonds have
bsea he'd BY banks institutions and individuals
throughout the country and therefore much IL
zor The greater part OF the money paid in re-
rir-Eg them goes elsewhere than 10 NewYork.
7 car hardly be otherwise than that the flow
u currency 70 the West and South 70 move the
crops should soon be under way. Il is q ques-
tien Il the interior movement of currency is not
already against New-York This is something
that viii scarcely be disclosed in the bank state
nsnr tomorrow. The statement presumably
VII reveal E growth il cash from the payment
for bonds, although by reason OF the absurd
system On which il is made Up there Is 10 Ger
tainty as 20 what il viii reveal, OF pretend TO
reveal. The statement 70 be issued e week
hence may be a better index to the situation in
money as II viii not, 50 far as Is now known
be unduly distorted by special operations of
II may be that the forthcoming
ststenent VIII be the last for q time 70 show e
gain II cash
While the dealings in stocks were small, they
we're widely distributed. Southern Pacific was
offered bur il was promptly taken. and there
was no loss II price. Something OF q demand
developed for the ST. Louis Southwestern issues.
and they improved in price. Union Pacific.
Northern Pacific, the Atchison issues and the
granger stocks receded fractionaIly. The buy
ing q Sew-Jersey Central was resumed and
the stock advanced The steel stocks were quiet
and only slightly changed. The trading in
Brooklyn Rapid Transit was far from the usual
proportions. and an uaimportant decline was
recorded for the stock The absorption OF Con-
so-idated Gas continued. and q substantial addi-
ton was made 20 the price Support appeared
for Peoples Gas, and the campaign against Il
appeared 70 be suspended There was not much
doing n Sugar Refining. and Il drooped in price
The DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS Market firm. Final