New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-01
BONDS.
THE DAYS OPERATIONS IN STOCKS.

stock market values were generally strong on
"a small volume or business. In a few issues
moderate ACTIVITY WAS reported notably in Man
haitian Louisville and Nashville, Reading, ST
louis and san Francisco. Missouri Pacinc'
atchison, anc BaIumOre and Ohio. Accumula-
zion OF Reanlng feature, but the leaolhs
movement OF the Gay WAS in Manhattan, |hlch
advanced TO 1885. as against a closing price OF
lS6 on THURSDAY. buying OF Manhattan Is
based on the steady gain in the company
earnings ana on the excellent prospects for in
creased net earnings wnen the line is compleIely
equipped with electricity. Room traders SOLO
,he stock on the advance, while throughout the
list tins eiernenu put short lines in eXpecta-
tior or q reacIlon before the close OF the market
on Monday An certain circles where market
ideas are based on sober judgment the opinion
was expressed mat the movement OF values re-
fected an accumulation of securities Dy inter-
ests that were convinced that the Republican
party would be generally successful IN tues
davis elections The ease with which prices ao-
vance on the slightest demand Is sishiilca"'
feature Of the current market.
II will soon be time for a return hoN OF cur
rencv 20 this centre, and when the movement
l,efzins local bankers will not object 10 sending
gold TO Europe if conditions there require snip
Tnents 1t is not believed, however, that any
large amount Of the precious metal viii be eA-
ported This country doubtless owes money
abroad but il is likely that the amount Que Is
smaller than many estimates suggest, whlle IL
is possible that enough exchange may De ere
ated by an Increased export trade at Atlanuc
Coast ports 10 Mquidate the indebtedness with
ont actual shipments Of the metal. IL Is ehcOur-
aging TO note that, while exchange rates a New
york hover around the gold exporting point
SHIPMENTS Of the metal are being made TO Pa
ci6c Coast ports from Australia. This cOuntrys
Pacific trade is growing rapidly. evidence OF
which is reflected in the gold imports al san
Francisco and shipments for the first time TO
Far Eastern ports OF wheat grown east OF the
Rocky Mountains. The crops in Australia have
been DOOR this year, and large shipments OF
grain from San Francisco are expected
According 10 the known movement Of money
in the week the local banks have lost about
$4,000 in cash holdings In last weeks state
ment the banks held a reserve above legal re
ouirements of ST., Isl, 4G5 and, If figured eN-
elusive of government deposits reserve OF
about SIS 100000. A year ago there was a re-
serve of $40 as, SOC, the year before s'.9Soa"o'
while in 1899 deficit of SO. II may there
fore he seen that for this time Of the year the
local banks are in an unusually strong position.
call money was higher again yesterday, the ad-
vance rejecting preparation for the November
settlements rather than adverse developments
adverse change in conditions affecting the money
market rates ought 10 rule at a comparatively
asy level until the end Of the year. when prep
ration for the January disbursements VIII
oubtless cause temporarily higher quotations
Stocks closed firm, hut generally under the
hest Of the day. The advance in North AmeIi-
IAN was due 10 the expectation of a per cent
dividend and TO buying induced by so-called IN
ode information that the stock will sell at 100
r. better. New-York Central was taken oy
Vanderbilt brokers. Southern Pacific was well
bought; also Union Pacific. Pennsylvania, Nor
folk and Western, Missouri Pacific and Atchi-
son. The so-caIled Gates pool was reported
buyer of Reading. In the industrials strength
was shown by Colorado Fuel and Iron sugar
Refining, General Electric. National Lead. sloss
sheffield and American Car and Foundry issues
In the outside market the new Rock Island Sc
curities were in good demand
THE DAYS OPERATIONS IN BONDS.
aSv