New-York tribune., 1900-07-17
RONDS-
- DAYS OPERATIONs IN sTOCKs.

Nor1h Fac As. i64If : !! Wabash u BE 32A - i
THE DAYS OPERATIONS IN STOCKS.
Stock market trading was extremely duh, but
prices were generally strong and higher Ihe
Chinese situation did not induce liquidation
Efforts were made 10 depress the stocks of the
corn carrying roads, and for a brief period
Burlington and Rock Island were inclined TO
sag but before midday the loss was recovered
while al the close net Improvement was re-
ported Covering Of shorts and moderate buying
by pools in Baltimore and Ohio, Union Pacific
and few other issues made up the bulk OF the
DAYS business. Traders were not disposed &c
discuss the possibility Of higher rates for money
a7d in the absence of gold export engagements
z cheerful view Of the money market situation
prevailed although in conservative circles there
was no particular enthusiasm over the pros
pects for continued ease in lending rates. The
stock market is in a sound position, otherwise
the Chinese developments and the local political
uncertainties would be followed by a consider
able setback IN values. The recent advance has
reduced the short interest but there are Few
weak holdings in the market the available sup
ply of stocks is not large, and the adverse
factors should therefore lose a good part OF
their influence Brooklyn Rapid Transit was
under selling pressure throughout the day, but
elsewhere there was no important weakness, al
though in the last hour general selling move
nent carried prices under the best figures OF
the day.
The total foreign commerce Of the United
States in the fiscal year amounted IN value to
50 244 1913 543. Of which 1894 1929 repre-
sented exports and SS49, 714329 imports. records
never equaled in the history Of the country In
the preceding fiscal year the total foreign com
Tnerce amounted TO $l,924,17l,T9l. Compared
with five years ago, the increase In the country S
a-1p
Alb This record represents the growth Of the
commercial power Of the United States; II re-
fleets the prosperity that with the return
TO power Of the Republican party and II FORE
shadows the approach of the time when New
York will be the chief financial centre OF the
world New-York will be the clearing house for
all nations. The report of the Bureau OF sta
tIstics of foreign commerce in June shows totaI
exports for the month in value of S1OS,283S97,
the heaviest total for any June on record. and
an excess OF exports over imports in value OF
S47475O13 For the fiscal year the excess of
exports over imports amounted to S544 SS5
against S529 S74 S13 in the preceding year, and
S615. .432 676 in the year before that. Inc
excess Of exports last year was accomplished
despite a gain in imports in value of sl52,56o'-
$40 In four years the excess of exports has
been 81 976 $50 51S. In the time named the ex-
cess Of gold imports over gold exports has been
S1SZ Zf9boS, leaving d net CISult DaidlISS u
81 7S4 055, ,S79. Interest payments. sales Of for
eigu held American securities. travellers credits
and undervauation of imports have offset in
part this huge European debt, but It is evident
that a large part still remains unsettled.
In view Of the probability Of exports Of gold
from here within the next ten days, the state
Inent Of foreign trade for June and for the year
is of peculiar interest. Gold VIII certainly not
go out on trade account. If the movement of
gold should respond 10 international trade con
ditions large amounts OF the yellow metal
would be coming this way. Gold exports repre-
sent money market conditions. Gold exports
from here are nothing more than loans to Eu-
rope and the foreign countries not only not
liquidarng their trade debts but they are in
creasing their obligations to this country. The
Boer war was an important factor in the for
eign money market, and its influence IS still felt.
The impending Chinese problem is affecting the
foreign markets, and It may produce a greater
demand for money than any yet realizes.
Fortunately the local demand for money is not
80 urgent as it was this time year ago.
owing 10 the smaller volume OF general business
and lighter speculative transactions. but with
the Chinese trouble gold exports and the de-
rnand for funds for crop movement purposes
local money rates must logically work higher
Gold receipts from the Klondike and new bank
rate circulation are expected TO increase the
supply Of funds at this centre and in case of
need the Treasury VIII increase its deposits IN
National banks. but these factors while a guar
antee against a panicky money market do not
insure continuance OF current easy rates for
loans
,-,,,, =, AVG Or14-u aTToN-c IN pON-pC