New-York tribune., 1901-10-16
sEx dividend
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market trading in most shares was light
on an irregular Of values In the early
dealings prices exhibited an advancing tendency.
but in the greater part Of the day there no
decided movement in either direction although
at the close the majority Of active shares showed
small net losses. Trading highly profess
eional, and the market without commission
house support. There was however, certain
amount of buying for substantial market inter
ests, notably in Southern Pacific, Union Pacific
and Pennsylvania Southern Pacific was again
bought by a prominent Broad-st. operator. It
is understood that the last named stock is being
accumulated by careful investors on the advice
OF inside interests, who confident that the
company's earnings will soon compel the man
agement TO declare a dividend While the COM
pany's report for the year ended June 80, 1901.
has not yet been published the gross earnings
printed monthly In The Tribune indicate a
total for the year Of over SSO.0O0,000, and net
earnings after operating expenses, interest.
taxes and rentals Of over $4,000 600. II is un-
derstood that the company put over S5,000.0o0
into betterments and Improvements last year,
and that double that amount VIII be so expend-
eo this year. On the advance heavy sales were
made by holders who had bought at cheaper
prices and at the close net loss was shown
for the day. St. Paul also closed lower, and
most OF the active issues went under Mondays
closing. Advances We're made by Pennsylvania
Metropolitan and many of the inactive shares.
The statement OF foreign commerce for Sep
tember received yesterday shows falling off
in exports and increase in imports COM
pared with the corresponding month year ago.
Indeed exports were less than in September
1899, as well as in 1900 The total however
amounted in value to S1O6. 500, 774. decrease Of
over S1.OO0.00O from August and upward OF
100000 from September last year The ex-
cess OF exports over imports was in value
S39, .S69. as against excess Of $50 3:33 I'D
in September. 1900. Imports for the month were
in value SCI, 800 405, as against SJ9 JGS 600 a
year ago The decrease In exports this year was
made up chiefly in cotton and manufactures.
For the nine months Of the year the country's
credit trade balance was 1899 270. $40, the total
exports amounting in value TO S1,046 22S2T
compared with 81, ,031 t964 ,23S for the same time
in the preceding year. OF course, the greater
part Of the trade balance as recently reflected
in the foreign exchange market. has been liqui-
dated through the sale OF foreign held American
securities the investment Of American capital
abroad and other financial operations involving
large amounts OF capital. 1t has only been with
IN the last few months that IL has become gen
orally known that enormous credit balance
in Europe has been reduced 10 unimportant
figures.
The Paris and Berlin money markets
higher while exchange at Paris on London was
again a trffe lower Gold Withdrawals from
London from Paris appear near at hand. Lon
don is not in a position to supply any large
amount OF the metal. especially as another war
loan Will doubtless soon be made The foreign
markets evidently are quite bare Of American
securities. and as e consequence there need be
no fear here OF a flood OF foreign liquidation.
Berlin withdrew 81 100000 from London yester-
day. The feature Of the local monetary situa-
ton was increased demand from the South and
West for currency, shipments for the day
amounting 10 Ss00O00 The larger part Of this
sum went TO New-Orleans for cotton crop move
nent purposes. OF the total dealings in stocks
Analgamated Copper, Atchison, st. Paul. Erie,
Pennsylvania, Southern Pacific. Union Pacific
and United States Steei supplied over two-thirds.