New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-06-25
BONDS.
THE DAYS OPERATIONS IN STOCKS

49,, ,,,,sSs IF fine King of England naturally
caused selling movement in the Lohooh Hi0i
kes and moderate liquidation on the local eA-
change for foreign account Lower LoIu
rlrtcas were followed by weak opening mere
hy. declines were not important, and in some
cases recoveries were made before the close-
f-sna, ouotattons. however were generally under
MONDAYS last, the heaviest losses in the aclNe
LIST being recorded in Amalgamated Copper
atcttsou. Canadian Pacific. Missouri Pacific and
Union Pacific Reading closed unchanged, also
Chicago Great Western. which was one OF the
leading active features In the early uauIis
this stock advanced one point on heaVy
Western buying The Gould stocks were Wen
bought but the dealings in wabash showed d
decided falling off Ia volume from the preceding
day Brokers who took Wabash were also
buyers of Great Western. Commission houses
were not active in the day. although number
of weak accounts accumulated in the last 1e"
DAYS were nquidated. In the final dealings bear
pressure was renewed on the theory that a
change for the worse in the Kings condition
xvou,d cause a further stump abroad to-day and
exmpathetic weakness here
The position Of the foreign exchange market
suggests that shipments Of gold may be maze
before long, but it is not likely that any e1-
tended outward movement will develop IN
deed in some quarters il is believed that despite
our debit balance abroad exports of gold VIII
not be undertaken at present Maturing obh-
cations due in Europe are being renewed IN the
confident expectation that settlements may be
made later on in the year through exports OF
grain and cotton. Crop prospects hear an i'm
portant relationship to the international e1-
change market II is therefore extremely graft
flying 10 know that current conditions in the
agricultural community indicate bountiful har
vests with q large surplus of corn and wheat
for export. It may come TO pass that Europe
Will ship gold this country before next WIN
ter. despite the present heavy financial balance
in Europes favor. Barring unfavorable devel-
opnents, foreign investors will doubtless be
active factors in American securities in the next
twelve months With a heavy foreign demand
for our securities and breadstuffs. it Will not
take long for the development Of credit bal
ance in favor OF the United States.
Gold exports this summer would have little.
81 any, effect on the local money market, as the
movement Of currency will continue In favor IF
this centre for some time to come. while in ad-
dition receipts of gold from the Klondike will
materially increase thu supply Of money at this
centre. The movement Of Klondike gold has
begun, drafts aggregatins SI.4D1.oGo having
been received by branches ef Canadian banks
In this city against shipments now on the way
A factor that promises to figure extensively in
the WorlQS money markets IS me Resumption
an active scale IF gold mining in South
Africa The influence Of peace in the BoeI
\ country has yet TO show its full effect tbs
!! securities and money markets in London. and
even If the King should not recover from hi:
illness a bull market abroad would only be
further postponed The worlds markets are
now In a sound position. There is no reason Il
suppose that the succession of the Prince OF
Wales 70 the throne Of England would bring
about political financial changes inirnical tC
the stability of values.