The daily morning journal and courier., 1901-11-02
Ftnamrial
 I HE SIOCk .H 4 Rl A it1,
Rolief Afforded by sa'e of Bonds.

New York, Nov. 1.-The prevailing
 unsettlement of speculative sentiment
 was well illustrated by the widely di-
 verse opinions expressed to-day as to
 the effect of the renewal of government
 bond purchases by the treasury. The
 wavering sentiment shifted somewhat
 to the optirnist side late In the day, when it became known that the offer l ings of bonds at the sub-treasury all
 ready amounted to $1,2S2,000, thus prom
 ising considerable relief to the money market It was urged this morning
 that the action of the secretary of the
 treasury might be taken as a warning
 of stringent money conditions to come,
 although the months surplus revenues
 of $9,301, ,952, compared with a surplus
 last October of only $S,651 OCT. gave suf-
 ficient ground for the outlay in bond purchases without any regard to extra
 neous circumstances. It was also ar gued that the release of treasury funds
 would simply serve to facilitate the ex- ports of gold.
 The closing of the London and Paris SNClldllBtS lu-Gdy SClfcu u ODGiulG somewhat the question of the foreign situation, and gave opportunity for a number of favorable incidents to work
 with cumulative force. The result was rather animated buying movement in the last hour, which turned the market strongly upwards and left prices at the top level of the day. A few stocks show striking gains and the leaders in activ- ity are point above yesterday in number of cases Baltimore and Ohio was conspicuous in the late dealings, and it rose 2% without definite news Pennsylvania had the benefit of the ex- tra dividend declaration, thus making the return to stockholders 6 per cent for the calendar year, or the same as last year.
 The preliminary figures of the move ment of cash disclosed the fact that the current of the interior movement had turned towards New York, the net gain as a result of the direct express ship ments amounting to $i,sb0s77 The statement of sub treasury operations includes in It's net result the payments on account of gold at Pacific coast points the transfers of currency through that institution and the with drawals of gold for export, which effect a loss to the banks of $3,925,0O0. The loss in cash by the banks on all ac- counts seems, therefore, to be something over $2,00O,000 for the week. The easy condition of the money market and the action in the stock market Is pretty clear intimation of strength by the banks, so that there may be changes In the loan itme to offset the cash loss It is believed that an active movement of cotton abroad would be the most effec- tive factor towards depressing exchange and circulating the export of gold
 There were a number of conspicuous in less prominent stocks. Minneapolis, St. Paul and Sault Ste. Marie rose 4, the preferred 10, Pere Maruuette 4, New York. Chicago and St. Louis first preferred 3h, Glucose 2B, 1 National Salt preferred A. New Central Coal company and Fargo per cent. Northern Pacific preferred gain ed 9 end Great Northern preferred 1%, | The local fractions were strong and the Southern Railway stocks, Louisville | and Nashville, New York Central, | Hooking Valley and the stocks of the [ car companies showed strength. Sugar was heavy on the cut in price by a Evansville and Terre Haute | dropped and Rutland preferred Az points.
 Railroad bonds were quite active and irregular The total sales par value ag- $2,800,000.
 United States threes advanced A the twos and old fours 1s, the ives M and the new fours 1a per cent. }n the last call.