New-York tribune., 1901-10-25
BONDS.
THE DAYS OPERATIONS IN STOCKS.

OA4-s IN oLOOAAo'
Transactions in yesterdays stock market We're
confined in great part to the operations OF pro-
<essional traders and TO the dealings Of certain
important market interests who are interested
IN some Of the more active Stock Exchange
securities. The so-called public was not heavily
engaged in the market, and there was little in
the days course OF business that encouraged the
expectation OF an important bull campaign in
stocks. It was admitted, however. that certain
substantial market operators were anxious 10
bring about a higher level of values. The ef-
forts OF the last named did not result in material
interest from the commission house element.
Although the greater number OF stocks are SELL
ing at bargain prices. the public does not ap-
pear inclined 10 enter actively into securities
operations.
The general position of stocks should invite
attention from careful speculative and invest
nent interests. Conditions underlying the mar
ket are sound and current hesitancy is based
on factors which will not be permanent market
influences. The money market position is i'm
proving. the general business situation presents
no evidence Of reaction and the outlook in all
parts Of the country suggests further activity
IN the general industries Of the United States.
Many stock market spectators waiting for
a final settlement Of the Northern Pacifc-Great
Northern affair 1t was learned yesterday in
under way between the Northern Pacific, Great
Northern and Union Pacific interests for
agreement by which the present conflict over
the disposition Of the Northern Pacific preferred
stock could be amcably settled. Until the
Northern Pacific and Union Pacific are able to
make satisfactory settlement Of the present
involved Northwestern situation, the public will
not enter iargely into stock market operations.
Buying OF Union Pacific. St Paul and Southern
I--.4.O 4L yesterdays market said TO be for
the account OF inside interests 1t was noted.
however. that enormous realizing sales
made in all Of the issues named. Realizing
sales were heavy throughout the market, and
It was due 10 these operations that final prices
showed only small net changes Closing quota
tions presented a few net gains than
losses
The money market at this centre showed no
material change. while in the foreign markets
the only noteworthy incident was an advance in
the London discount rate. Paris exchange on
London remained unchanged. and there
noteworthy development in the Berlin market.
Gable dispatches from London indicated, how
ever. that the drain of gold from London for
Continental account would continue for some
time to come The local foreign exchange mar
ket was firm. Foreign exchange bankers do not
expect a decline in rates for some time TO come
but II is not thought likely that the foreign
situation VIII a gold export movement
from this centre before the first of the new year
The bank statement which will be issued to-
morrow should not, according TO the known
movement Of money show material changes
from last weeks figures. The banks have prob
ably lost small amount Of cash The loan
item. OF course. cannot yet be determined, but
the chances are that the expansion in loans has
not been heavy enough to cause large reduc-
ton IN reserve.
While the days operations in stocks reached a
total Of over 10000 shares the greater part
Of the business was supplied by about ten active
issues.