New-York tribune., 1901-09-07
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market values made no decided progress
en- either direction final figures showing. after
an irregular movement throughout the day
sew more small net gains than losses In
number OF shares changes amounted 10 as nucH
as ] per cent, but. a rule, fluctuations "eIe
confined to fractions There was little news III
the day affecting prices, and an announcement
sn London that 100000 gold had been SOLO IN
the open market for shipment 10 this SIDE laieo
10 stimulate an active demand for securlueS'
THE movement OF the exchange market how
ever ENCOURAGED cheerful speculative sentiment
while the expectation OF a speedy break IN me
steel strike stimulated bull enthusiasm. Later
on this enthusiasm should be reflected in stock
,-elues Sterling exchange dropped a few more
poiuts in the course OF the day, and reports
were heard OF arrangements for large imports
of gold by the steamers sailing from europe
next week II is now likely that, barring
radical change IN the sterling market, shipments
of the precious metal may be made 10 TINS
side in considerable volume in the next ie"
weeks. Foreign centres may put obstacles in
the way Of an outward movement Lonooh
may raise its selling price for gold bars ana
American eagles but If the rate is unduly ad-
-vanced British sovereigns may be obtained at
the Bank of England in exchange for bank
notes.
According 10 the known movement of money
in the week the banks have lost over s4.opoooo
in cash holdings since last Saturday. Inc oe
rnand for money from the interior and the ex-
cess OF Treasury receipts over expenditures IN
this city are responsible for the loss The nrst
named factor reflects normal conditions, but
the continued flow OF funds into the National
Treasury reflects defects in the Suo-Treasut!
system that at times lock up money that o1snI
10 be circulating in the channels or trade Gold
IS now coming this way from Australia, Alaska
and the Klondike while consignments OF the
metal will doubtless soon be coming across the
rig In addition the production OF OAl
Western mines is adding 10 the country 5 IaI se
gold supply. The factors named should ser He
10 prevent stringency in the local money market
and ~ they do not the Street may depend upon
assistance from the Secretary OF the Treasury.
who has always been Wiling 70 use an .. a..
in his power 10 relieve the money sltuatoh IN
New-York. Call money was firm yesterday
but IL was not dear. AS long as speculation re-
mains quiet call money ought not to reach a
stringent level.
Atchison. Union Pacific. Erie. ST. Paul and
Mexican National were fairly active features.
and as a rule they exhibited advancing
tendency. Activity and strength in Mexican
National stock in the last week is not explained
by any known development affecting the prop
erty but il is limited that buying for control is
under way. II is also said that there is a posi-
bility Of reorganization OF the company with with
a stock assessment. The road Is narrow
gauge affair and the adoption Of the standard
gauge would greatly increase its money making
mower In the industrial list excellent buying
was reported in International Paper preferred
and International Pump common. Offers TO Duy
calls the last named stock at 4Sa have stifn-
1llated trading IN this issue. and the chances
are that the stock will soon sell on a level more
in keeping with its actual worth as q per cent
issue International Paper preferred is. or
course cheap at its present price. II IS rather
surprising that its market quotation is so low,
but II may readily be seen that proper ap-
probation Of its actual merits viii carry the
price materially higher. There are many first
class safe investment industrials now selling
many points under their true values AS a RUE
the industrials are cheaper than the railroad
shares. while their income yield is much greater.