New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-10-06
BONDS.


THE DAYS OPERATIONS IN STOCKS.
Stock market values irregular in the
greater part OF the two hours OF trading, with
frequent dips toward lower prices and with net
losses in most OF the active issues at the close
There WAS practically outside speculation
Commission houses We're inactive. and, rule
transactions represented the operations of the
professional element An unfavorable bank
statement aggravated the prevailing bear senti-
Inenf. but little important liquidation followed
the publication Of the figures. Quite unexpect-
eddy. loans showed large expansion. and, de-
spite gain of over 81 100000 in actual cash
holdings reserve above legal requirements de-
creased s133Goo The banks were. of course,
justified in increasing their loans in the week.
as reserves were at a substantial level From
now until November. however, extensive loan
expansion does not appear probable, owing 10
the fact that Withdrawals of currency for in
terror account viii have Offset in the way of
Treasury bond purchases or gold imports In
the week just closed the banks lost interior
operations upward of S7OOoOO but gold re-
ceipis from Paris. Assay Office checks for gold
deposited at San Francisco ard Treasury bond
payments caused IN actual gain in bank cash
holdings
The loca- monetary situation has been mag
raiGceutly handled this fall and there is rea-
before the return flow of currency begins.
Stock speculation has been he'd in check. and
any attempt 10 Tiff prices now would doubt
less be opposed by the banking interests, who
have II in their power TO advance money rates.
With the return of money TO this centre there
ought to be a change IN the stock market In
well informed circles II is believed that the
larger interests are preparing for a bull cam
paign IN securities and II may be that last
weeks expansion in loans was an incident OF
these preparations. II there Is radical adverse
change in conditions affecting the actual value
of securities prices VIII undoubtedly work ma
teria1ly above the current level In the course OF
the winter. At the moment Wall Street Is bear
fish, but il IL generally in these periods OF ex-
frernc depression that the speculative
chnery is beginning to get in proper condition
for big rise in values Trade reports for the
week were favorable. and outside OF Wall Street
cheerful sentiment prevailed. Railroad earn
ings were heavy. bank clearings were large. and
few developments encouraging for the
advocates OF lower prices.
The industrial shares again under bear
pressure. Amalgamated Copper and Sugar Re-
filming being the chief sufferers Amalgamated
Copper lost points. closing at its loves,
price of the day. $40. On June II Of this year
this stock sold at $50. According to trade au-
thorities, the copper situation has improved In
the last week Prices have advanced in Lon
don and it is reported that stocks prac-
tically depleted that centre. Outside Of the
stocks accommodating in the hands OF the Anal
gamated company, there appears TO be but
small visible supply. Consumers Will not buy
more than is required for immediate use, for
fear OF A slump in prices. a contingency, how
ever that at the moment the big companies will
not admit The decline in Amalgamated Copper
stock again was responsible for the belief in
some quarters that the Standard Oil interest,"
were selling the market. There was noticeable
weakness IN Missouri Pacific, st. Paul and al
shares in which the Standard Oil people are
supposed 10 he Interested. The traction share:
We're all weak, Manhattan and Metropolitan
each declining over / point, with smaller loss
in Brooklyn RAPID Transit. The market closed
at about bottom prices.
The usual weekly table OF price changes for the
active stocks follows: