New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-10-03
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Early dealings in stocks were at slight reac-
lions from Mondays closing prices. and in the
greater part Of the day the market presented
great irregularity. The volume Of business
small and there were no striking movements al
though in few Of the more active issues mod
erately large fluctuations were recorded Pub
lie traders were not in evidence. Substantial
speculative interests not active, transao-
lions in great part representing the operations
OF boardroom traders. The fact that the coal
miners refused to go back TO work, despite the
offer OF the operators, led to short selling
In the anthracite shares. but declines when made
were small except In Delaware, Lankawanna
and Western. which lost over 2 Per cent
hundred share lot sale. Midday strength In the
general list was followed By Fecessons In che
afternoon, and at the close more net losses than
gains were recorded Some long stock came out
in Baltimore and Ohio. and further bear pressure
noted IN Northern Pacific and Sugar Re
filming. Tennessee Coal was weak under nquida-
ton. and the granger shares sold off realizing
sales Big Four stock was In good demand.
Sterling exchange rates were again lower, but
the money market was without change. Gable
advices reported considerable uneasiness abroad
over the prospects OF gold exports to New York,
although foreign money rates made no response
to the decline in sterling at this centre. Actual
engagements of the metal would doubtless cause
ers TO check the movement through the medium
Of the London money market Europe is not in
e strong financial position. and IL hardly
afford to send gold to the United States. In
deed, European bankers have been counting on
further assistance from the American market,
but as things are moving at present foreign
bankers will be forced to make extraordinary
inducements IN order to attract our gold their
way. This country's credit balance merchan-
- a~lr "a
Europe can do little to offset Il The sentiment
OF the German and Swedish Government loans
through foregn credits is of little account
offset to the amount Of money owing the United
States, the excess OF our exports over imports
IN two months more than balancing the two
loans. Gold imports at this time would doubt
less be considered bull card securities, But
IL should be borne in mind that big movement
OF the metal 20 New-York would have
settling influence upon the foreign markets,
which might in turn be reflected IN the local
Exchange. If the necessities OF the home money
market become imperative bankers viii, OF
course. pay little heed to the objections Of Eu-
rope TO gold imports at this centre.
The stock market has been strong In the last
few days on buying induced by the Wall Street
belief that the coal strike will be settled,
that the political situation Is brighter for the
election of President Mckinley, and that the
money market will not be stringent this fall.
The character Of dealings, however. does not in
dicate that the factors named will form the
basis of sustained bull movement. Efforts 10
attract outside buying have failed There is
great encouragement in the attitude Of investors
who are satisfied to hold their securities, and
unless investment selling takes place there
should be no important disturbance in the
market.