New-York tribune., 1901-11-14
sEx dividend.
BONDS.
THE DAYS OPERATIONS IN STOCKS.

THE DAYS OPERATIONS IN STOCKS.
the stool, market was Irregular IN the greater
part of the day. with small net changes at the
close Early strength was followed by heaviness
in many issues selling by commission houses
and bear pressure being induced by extraor-
dinary gold export engagements. Declines now
ever were sInen. In view OF the TACT tha'
nearly 5000 600 engaged Tor shipment oy
to-day,s French steamer. the course OF prices
showed remarkable resistance to operations 1or
lower quotations. Indeed il may be said that
the Street was generally surprised to see the
comparative indifference of the stock market
TO the developments in the foreign exchange
situation. and the ease with which offerings were
absorbed within fractional fluctuations. Secur-
flies certainly appear to be In strong hands,
while conditions underlying the market are SOUND
enough TO prevent disturbance over large oe-
,nands upon the local money market for forelgn
requirements. A few years ago gold exports
caused extreme uneasiness in Wall Street cir
cfes At present they merely attract little
bear pressure and insignificant public selling on
the Stock Exchange.
czo,a tha. is now being sent abroad will not
cause any scarcity OF the precious metal IN the
United States Shipments may result in higher
range of money rates for brief period, but the
-,,nute any important advance develops large
amounts OF money will naturally be attracted
to New-York from interior points BANKERS are
confident that the local monetary situation Will
present no unfavorable developments, as 1t is
generally believed that there are enough onsets
TO gold exports to maintain rates fer accommo-
6ation III a fairly easy level The banks have
gained on Sub~Treasury operations so far this
week over S3.O00.e00. and despite the large
outgo OF gold, cash holdings are not hKely 10
be materially lowered at the end Of the week
fHeS Will he Northwestern
vav situation VIII doubtless soon be able TO
control 2 large amount of money now locked up
in the Northern Pacific affair. inasmuch as an
agreement has been reached by which an ao-
iustrnert Of the whole matter VIII be MADE n
company was incorporated yesterday 1or 'he
purpose Of holding the securities OF the various
roads that are interested in the Northern IA
cific settlement The formation OF ne" cohi-
pany Will release many prominent interests from
burdens that they have been carrying ever since
the panic OF May 8, and a consequence both
the money market and the stock market VIII
be benefited TO a material extent Over slooVo'-
oon MAS len. On call at per cent yesterday.
Commission business was smaller than re-
Gently recorded and many conservative houses
induced customers 10 take profits, on the theory
that irrespective OF outside developments, a re-
action was due. The more active issues moved
within narrow fluctuations as a rule, exceptions
Of note being found IN the traction list which
made further marked progress toward hisher
level tu the greater part Of the day Buying OF
r3rooklyn Rapid Transit suggests that important
DEVELOPMENTS IN the affairs of the company may
he pending II Metropolitan has not secured
control of the property. it may be found thal
oenosylyauia Railroad interests are the chlef
owners Of the stock. II the property should De
managed In connection with the Metropolitan
cor,nany the service would doubtless be vastly
..nnroved and the value Of the stock Increased
Traders who sold stocks to test the strength OF
the bull account were not especially pleased Win
results. as the general course OF business renect-
ed no technical weakness and no overspeculalion
,,v the smaller commission house element
coincident with the formation or proprietary
,ornnany In connection with the Northern Pa
c,Ao settlement II announced that al d
,raeting of the Northern Pacific directors X mad
1,een decided 20 restore the preferred stock on
January I, issuing in its place S13.OUo.ooo per
cent convertible bonds The preferred stock Will
receive dividend Of I per cent for the period
ending December 81. IN addition to the dividend
pavable December 5. The greater number OF
shares closed at small net declines
THE DAYS OPERATIONS IN BONDS.