New-York tribune., 1901-08-16
rHE DAYS oPERATIoNs IN STOCKS.

Transactions in yesterdays stock market were
light but the character OF trading renecteo q
demand for securities from a good class u
operators Prices were generally strong Win
net advances in the greater number OF shares
AT the close Interest in the market was as
tributed over a larger number Of stocks thah
recently recorded many Of the 'ow priced is
sues receiving marked attentioA. Thls tehoeHCS
was pronounced in Southern Railway common
aad Mexican National Prospects in the Mexl-
can Republic are for stability in politics ana
yroqress in business and as a consequence
more capital is going into Mexican Industries
ard more real value is accruing to the Mexican
railroad securities. Southern Railway common
will not receive a dividend until the preIerreu
gets the fun per cert TO which II is ehl4ueu'
but il is a good stock nevertheless, 10 holo loI
future higher prices. This also may be salo OF
Southern Pacific, which is considered one Oh
the best long time investments in the market
Fuying Of St Paul was again feature. but
there was no news accompanying the move
Ynent. An excellent demand was reported IN
r-n,on Pacific and the hard coal shares. The
steel stocks were active and firm, and well
borcbt on the more encouraging developments
in the steel strike situation. Refusal by the
Chicago steel workers TO join Shaffer's absurd
attack upon the United States Steel Corpora
ton was an important factor in shaping the
davis course Of values, while better reports from
the crop section and a drop in sterling eHchahse
contributed TO rising prices and cheerful senu-
rnent. The appearance of drafts against recent
heavy exports of wheat and bigger offering OF
bankers bills were responsible for a decline IN
exchange that apparently precludes the pos
sibilltv Of gold exports this month. 1t is now
thought that the exchange market will gradu-
ally decline TO the gold importing point and
that shipments Of the precious metal viii be
made from Europe TO the United States this
fall
The record Of foreign commerce for July
presents another noteworthy addition 10 the list
of factors underlying the financial and COM
rnercial prosperity Of the country. Although
there was an increase in imports in value OF
over 100000 as compared with the same
time q wear ago. the excess Of exports reached
the big total Of S36, ,134,O71, against an excess
In the same period in 1900 of S36, 6,793.1lo- Ex-
ports for July amounted in value 10 S109o3l, lbs
the biggest figures for any July on record. For
the seven months ending July 81 the excess OF
eKoorts was 1924 sac. GO. The growth in the
ncuntry's export trade has been enormous in the
last few wears. the increase for instance, since
1885 being in value S3ls 03u these figures
covering the seven months of the calendar years
for the periods named In the last Twelve
months the excess Of exports has been in value
SGG3 933 643, making for the last four years a
total excess Of S2.3I3, ,2JI, ,l32 This trade bai-
ance has. Of course. been offset in part by enor-
nous sales Of American securities in LONDON
and by international financial transactions, but
Il is stin considered likely that the balance Is
IN our favor Moreover, il is likely TO remain in
tins cOuntry's favor, as the foreign demand Tor
or food products and manufactures continues
heavy The growth in wealth here is indicated
in the increased buying power Of the people, as
reflected in the gain in imports.