New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-08-11
BONDS.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN STOCKS.
There nothing excite interest in the
stock market yesterday, and the transactions
were again on a very limited scale. The ag-
gregate Of them was nevertheless larger than
on Thursday when the total dealings were the
smallest in yeeSs. The market displayed
strength in a decided degree. For majority Of
stocks improved prices were recorded and in
instances where declines were reported they
We're unimportant. Were il not for the extreme
dulness the generally favorable conditions now
prevailing would probably be productive of a
considerably higher range of values AS 1t is. in
terests identical with the long side OF the mar
ket are confidently looking for an upward move
Inent Of at least moderate proportions before
The current month is ended. 1t probably is true
that the opportunity Of the laars ill come a
little later. when the existing ,e-na-kable ease
IN money begins to disappear. but until it does
il viii require extraordinary and unex-
pected happening To produce a fall In stocks.
The public is not in the market It is not ex-
pected 10 take a hand in speculation. at least
10 any extent until probably after election. The
professional operators are standing aloof. They
awaiting developments
The outgo Of gold on account Of the American
subscription TO the British Exchequer notes is
not rapid had been looked for The
American trade credit abroad is immense
that it is difficult to prevent the utilization of it
in payment for the notes But the Bank of
England, which handled the issue of notes is
urgently in need Of gold, and is employing IN
usual means. including the remission of inter
est on consignments and an advance in the
buying price Of eagles. to procure it. The gold
that is going from New-York TO Paris is ap-
parently. sent triangular operation The
state Of sterling exchange in Paris is calculated
10 draw gold from London. It is better, for
financial effect. that some of the gold obtained in
New-Hork should be diverted to Paris than
that gold should go from London direct TO Paris
The signs point to a strict maintenance Of rates
for money at all European centres and for a
continuance Of New-York as the cheapest money
market in the world.
The Government monthly report on cotton was
issued al midday, and disapproved the reports
Of deterioration in the crop. The condition was
shown 10 be slightly improved. The report on
corn and other grains was not issued until an
hour after the close Of business on the Stock
Exchange, and its influence on stocks will not
therefore be disclosed until to-day More or
less uncertainty still prevails in the iron and
steel trade but there are some evidences of a
betternent in the situation. The clrtainent Of
the materials in which there had been a surplus
output has had the effect Of steadying prices
which in turn may induce the placing Of orders
that were withheld in anticipation of a DOS
sible lower range OF figures. A revival in dry
goods is counted on before long The business
of the country, a whole, is said 10 be good
which is something that seems TO be verified
by railroad returns. The traffic Of the leading
roads is not only undiminished. but in most
cases is considerably larger than It was at this
time last year.
Nearly third Of the total business In stocks
was IN Sugar Refining. which was under
manipulation. The advance in this stock was
substantial one and the closing price was the
highest Of the day. The delay in the issuance
Of the annual report Of the Brooklyn Rapid
Transit Company served to restrict trading in
the stock, which, however, was notably strong
Chicago and Northwestern was again feature
Of the market and il accomplished a further
gain in price. The railroad stocks generally
were bettered in price. National Lead issues
receded on talk Of forthcoming bond issue
The bank statement to-day is expected 10
show some important changes While the banks
have in the week received a good deal Of cur
rency from the interior, the gold exports prob
ably will prevent any increase in their cash
holdings II is presumed that an increase in
loans, consequent upon the shipment Of gold
with an accompanying increase in deposits will
result in a material reduction in the surplus
reserve. Still the resources of the banks are
extensive that the money market is not
likely TO be affected.