New-York tribune., 1900-07-19
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market trading was light on an irregu-
lar movement Of values Substantial interests
were buyers in various issues but the general
public was not in the market and commission
houses reported decided lack of enthusiasm on
the part Of customers Stocks have been strong
for several weeks without public support. Per
haps public confidence will revive at about the
time current buyers begin to realize profits.
The weekly Government crop report helped the
granger shares, but on the advance considera-
bic Tong stocl- came out. Union Pacific was
actively sold by London, and, consequence,
IL was heavy the greater part of the day. Pool
buying was again reported in Sugar Refining,
and Flower brokers took Brooklyn Rapid Tran
sit 1t should be observed that insiders are
willing to buy the last named stock at current
prices. while they are not disposed to part with
their holdings on small rallies. Confident hold
ers Of this stock who bought above current quo
tations are not selling. despite the absurd Street
reports about alleged inside liquidation. The
other traction shares were strong in sympathy
with Brooklyn Rapid Transit a limited vol
une Of business. The general market was heavy
throughout the day, with net declines predOmi-
mating at the close. Afternoon trading was
lfeess.
Stock market trading has dwinded TO small
daily totals Of sales and purchases, but the
dulness is not accompanied by liquidation or
pessimism on the part of substantial interests.
While the so-called public is rot in the market,
evidence Of quiet buying by conservative in
terests is not lacking. Stocks are selling at an
attractive level, and the resistance shown TO ad-
verse developments is an impressive indication
Of the strong character of present holdings and
the confidence of investors in the intrinsic worth
Of securities. According 20 the views Of a GER
tain element in the Street, prices will be read
justed 10 a lower level before the summer is
over. Political frights are said to be in store.
and II is thought that before the fall election
bear traders may be able TO influence prices on
carefully prepared political ammunition. But
meanwhile many people believe that prices will
work to higher level. especially as the ten
dency has been Enthusiastically upward in the
last few weeks despite the presence of uncer-
tainties IN the general situation and the alb
sence Of public support from speculation.
Gold exports were resumed yesterday, $1,000
600 OF the precious metal being engaged for
the account Of Paris. The local market can
easily spare a round amount of gold, and ship
nients Of from S10,0O0000 TO S15O00,0O0 may be
made without material effect upon money rates
II the movement runs on for any length of
time, however, it will come in conflict with the
usual home demand for money for crop move
rnent purposes, and in that event dearer money
will be quoted in New-York. Monetary strin-
gency appears out Of the question, however. as
the Treasury is strong in available supplies,
while monetary conditions throughout the coun-
try ara sound No two in Wall Street
agree at the moment regarding the probable
effect upon the worlds money markets Of the
Chinese situation. At this time one can
safely predict the probable extent Of the fnan-
cial requirements Of the various nations that in
tend to send armies to China; but. matter
how much money is taken, the actual value of
American securities will not be cheapened In
the long run American securities viii receive
increased value from the Chinese trouble.