New-York tribune., 1900-07-10
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Operations in stocks yesterday were conducted
with hesitancy and caution. and spectators dis
played a tendency to take alarm at unfavor-
able events. while not according to beneficial
developments adequate consideration. Never
theless, the result of the dealings was a gener-
ally higher range of prices. The public is almost
entirely absent from the market. which of itself
is something calculated to hold down values
II is not that conditions at large are not good,
for they are. but a Presidential campaign is
now under way, and political surprises and
sensations are 10 be expected: the situation in
China may evolve more serious occurrences than
have vet been witnessed; the important corn
and cotton crops may yet sustain heavy dam
age. and, lastly the future state of money is
still 70 be determined.
IN financial quarters there is no real doubt as
the outcome Of the Presidential election. but
It is not reasonable to suppose that the cam
paign will go 10 its end without startling
incidents The despairing silverites will make
g desperate struggle. and will leave untried no
eXpedent TO deIude and attract people to their
side They viii be beaten. but they will fight
like animals at bay. Very little is known as to
what has taken place in China. and il would
quire prophet with prescience indeed to tell
what will take place. It will be strange if the
Western grain gamblers do not repeat with re-
gard TO corn the alarming reports they spread
susceptible to damage, and herein is presented
opportunity which the grain market manip-
ulators will hardly fail to embrace. The Gov
ernInent monthly crop report will be issued
morrow. and il will be the first report of the
season TO give the acreage and condition OF
corn. As, however, it Will present the situation
Of July l. il viii not be particularly effective
in dispOsing Of manufactured damage stories
that may be set afoat. Cotton is far from be-
inc 77Yr of b11t ro1au cd
leads the hope that the production will be
liberal; still the cotton market jugglers may
be depended every now and then 10 work up
scares in the staple
While money is extremely easy at present and
there are no signs of a contraction in it, it
nevertheless is fair to presume that the existing
low rates VIII not continue for any great time
Although the West and South are much better
off than they We're, the East will have to send
large sums TO those sections to move the crops
The experience Of last year should be borne in
mind. 1t was thought the fall Of 1899 would
pass without a call upon New-York for any
heavy amount Of money to handle the crops
The call was delayed, it is true. but ii made
1t heavy, and it produced a stringency in
funds that upset the stock market. 1t is prac-
ucally impossible 70 forward the crops to mar
ket without materially diminishing the supply
Of money in New-York and at other Eastern
the same time Wall Street is better prepared
for stringency than it was last year, for it has
more thoroughly supplied itself with time
money.
The stock most conspicuous in the trading
the Stock Exchange was Brooklyn Rapid Tran
sit. II under pressure throughout the day
and suffered in price. A statement pub
lished which was intended to show the results
from the company's operations in the year ended
June 30. The figures were not furnished by the
company, information as to their
source forthcoming. They showed income,
after charges and taxes, of 1000 Illinois
Central became active and strong in anticipation
OF an increase in the dividend. Atchison pre-
ferred was in demand and the stocks of the
called Granger railroads made moderate gains
in prices on improved crop adYices. The stocks
of both the anthracite and bitunlinOus coal roads
were comparatively strong. The total transac-
uons were not large, but they fairly well
distributed. An advance of one-fourth of a cent
in demand exchange was a reflection Of higher
discount rate in London.