New-York tribune., 1901-11-20
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Transactions in stocks were confined In great
part TO the operations of professional traders
The tone was generally heavy, without, how
ever any important weakness declines. as a
rule. amounting to insignificant figures In a
r5.1nlber of issues decided strength was SHOWN
but in these cases DEVELOPMENTS and considera-
1ions not affecting the general list controlled
price movements. The announcement that the
American Car and Foundry Company was
earning at the rate of St3500O0 net a month. as
against S1ey00e0 at this time a year ago was
responsible for the strength in Car and Foun-
dry shares while semi-official reports regard
ing the earnings and dividend prospects OF the
ST I,o;,is and San Francisco Railway Company
accounted for the exceptional strength: IN
Frisco" issues Metropolitan and the other
fractions were also strong. In the coal group
Erie. the Reading shares and Ontario and west
ern exhibited great resistance TO the markets
downward tendency, the last named stock show
ing especial f7rmness on a large volume Of busi-
ness Ontario and Western is a stock we'll
worth watching. owing to the increasing i'm
-,or.ance cf the Ontario and Western company
as a factor in the coal producing and mining
business. and to the comparative independence
OF the road among the anthracite group or
companies In the afternoon dealings the gen.
erai list recovered from. the lowest figures Of
the day. although closing quotations were under
Mondays last quotations
Furtber ENGAGEMENTS of gold for export were
made Indications in the foreign exchange mar
zzet were less favorable to heavy exports to-
morrow. easier rates being quoted here, while
in Paris exchange on London was again higher
The exchange market, however. is subject to
sudden movements, and yesterdays indication
cannot. therefore, be taken as a guide for to-
day Just before the close sterling rates ad-
vanced- So far this week the local banks have
lost more than S2.d0000o on Sub-Treasury op-
erations- Receipts from the interior, however.
have il is understood. been heavy. and it is
possible that, despite the weeks enormous gold
export engagements. the local bank holdings
will not be materially reduced The fear Of
higher money rates is natural but there is little
reason to suppose that any acute disturbance
will develop as a result of current foreign
change conditions. In the afternoon 1t was
ported that only S5n0o00 gold would go
Europe on to-morrow's steamers, but cable dis
patches from London said that provisional en-
Saeement of 100000 had been made for Sat
urday. Gold experts from here represent pay
,nent for American securities sold by foreign
holders and liquidation OF loans made abroad.
There apparently have been enough factors to
offset the large monthly trade balances in our
zavor-
The most effective selling in Union Pa
cific ST Paul. Missouri Pacific, Rock Island,
.Atciiison, Great Northern preferred. New-York
Central. Peoples Gas and St Louis Southwest
ern. In the last hour the coal stocks were bid
up and the whole list enjoyed improvement
There was little commission house business,
and the close was quiet, with net losses pre-
Nominating.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BoNDs.-Market closed per