New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-25
BONDS.
THE DAYS OPERATIONS IN STOCKS.


Recoveries from Saturdays decline were made
N a number of stocks in the early trading yes
ferdav. Contrary to traders expectations. there
a-es No selling pressure from commission houses
A. the opening but on the advance considerable
stock came upon the market and before the
slose renewed operations for lower prices were
under way Speculation presented no evidence
- nowerful support or buying for public &C
.ount early advances rejecting little else than q
sequel 10 Saturdays oversold market. FureS
Epeculative influences, the approach OF the Ma
tonal election and money market conoluons
,,,arshadowed the sound position of general
srade and Industry as market factors ana peliu-
nr the elimination Of these factors bull move
rent supnorted by public buying is not ex-
oected Labor conditions are also factors OF
inheritance at the moment, but the resumption
- work in iron and steel concerns that have
oeen idle since July offsets TO some extent as
, speculative influence the strike in the Penn
Tylvania coal regions.
II IS quite evident that big operators are not
ready for an advance, but ii IS reasonable TO De-
ieve that between now and Election Day the
more important operators will add 10 their mold
nEs on all declines, in expectation of higher
,r,ces before the end Of the year. It looks as if
The present time would be utilized to place Ihe
market in order for bull movement later on in
season.
II an attractive level. and further declines VIII
,lece q large number Of issues upon an unusual
bargain level. II IS not likely, however. that
bargain level will appeal TO the public. with an
-nnor1anr Presidential election near at hand
Tbe market may be discounting Mr.. Bryan's
possible election, but in the case OF Democratic
success values wouldJin all probability run far
.rder the low quotations that may be made IN
he course of the next few weeks The outlook
5oes not favor Mr. Bryans election. ana the
anxiety Of Wall Street traders over the election
due more to1rhsiu2desire to secure stocks at
,bean. nrices beforAes November than to any real
ear Of Republican defeat
The heavy loss in the cash and surplus hold
ngs Of the Associated Banks had no material
Effect upon money rates yesterday OF course
the banks continue to lose money in the next
lour weeks at the same rate as recorded in the
asr two weeks surplus above legal require
,lents will go low enough to justify much
higher asking price for money. At this time a
7ear ago money on call averaged 3 per cent
While in the week ending October quotations
an I'D to 40 per cent. averaging u per cent
Nth the bank reserve down TO S642,2oO
throughout October, November and Decem
ser the price Of call money high, ant
N December Is the rate up to 1853 Pc
,ent. the equivalent Of one-half Of l per cen
commission and legal interest. Subsequent!
he market eased off until normal condition
we're again IN force. There were adverse fac
lors last year which not present this year
out there are also new factors this year whicl
nay tend 10 keep rates up, although a repeti
ion Of last years stringency and manipulation
n money rates is not expected.
Brooklyn Rapid Transit touched the loves
ooint Of the present downward movement Il
his stock selling at 4S and closing onl
.ractionally higher. Peoples Gas was extreme
Y weak: also Tennessee Coal and Iron In tn
forenoon dealings heavy sales Of Northern Pa
.ifc Sugar Refining and American Steel an
Wire were noted The chief buying came fror
The shorts" but the rally ragged. and Il
he last hour active liquidation resumed