New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-16
BONDS.
LIE DAY,s oPERATIoNs Isl sToCKs.

In the early dealings in Yesterdays market
further defines i'm values werd suffered through
out the list Liquidation ended however, before
the end Of the first hour. and advancing tend
ency that resulted in sharp gains in most issues
developed The latter movement WAS. of course
a rebound from the speculative recessions OF the
last few days Few traders would venture the
opinion that the upward move reflected the end
Of the bear campaign. although in some circles
II WAS thought that yesterdays low prices
marked the bottom Of the movement. While the
days upturn resulted from investment pur-
chases and covering of shorts rather than from
decided efforts 10 inaugurate bull market, II
was evident that bear operators were less conf
dent Of their position and disposed to be less en-
thusiastic over their recent pessmstic state
rnents regarding the business and financial stu-
alton.
Bank statement figures were more favorable
than expected The publication of the state
inent showing a small gain in reserve and
considera BILE reduction in loans was followed for
a brief period of uncertainty in market move
,nents hut before the close the whole list ad
vanced with spirit. St. Paul was a conspicuous
feature. selling up 2Is per cent There were
gains of l@2 per cent in Atchison. Pennsylvania
Railroad. Baltimore and Ohio. Reading, Louis
willie and Nashville Norfolk and Western, Ill-
,ois Central Missouri Pacific. Canadian Pacific.
Union Pacific Southern Pacific and many lower
priced issues AmaiS2mated Copper command
Cd the most interest among the industrials and
fullv participated in the days rally. Colorado
Fuel and Iron luctuated erratically, but made
substantial gain from last night Tennessee
Coal and Iron was. weak at the start, but ad-
vanced smartly in the last half hour. Inc
United States Steel stocks were fairly STEADY
throughout the session. Sugar Refining made
moderate Improvement and there were good ad-
vances in some Of the speclaIues WHICH "eie
lately under heavy pressure
People who are worrying over the foreign
trade Of the United States are advised to study
the statistics for october. as compiled from ON
cial records Exports Of manufactures Increased
In October over October year ago, exports OF
breadstuffs Increased, and had il not been TOT
decrease in shipments Of cotton ana pIoflslOhs
the total would have been larger than the rec
ord Of 1902. As il is, total exports Tor OCTOBER
this wear show a decrease in value from &c
tober A wear ago Of only S2,4T9,G63, while, with
tbe execution of the same period last year and
IN 1900 The record for October this year has
never before been equalled. The excess Of exports
aver in1ports amounted in value TO S1J65--2o
against an excess a year ago Of S642l2oO@
Imports in October were lighter than they were
In Septern Der, showing decrease in value or
R25O,595. while a year ago imports increased
pver the preceding month nearly So,eeOco. tx
norris of general merchandise from TINS country
U-iu doubtless be heavy in the next twelve
months as there is no Indication Of let up
IN the foreign demand for manufactures
and as our harvests have been heavy We will
have A large surplus 10 send abroad.
The corn crop of 1902 breaks all records.
amounting according To the Agricultural De
nartmant. TO LIKELIHOOD bushels, as compared
aith 522 .ll9 S9l bushels in 1901 The yield OF
pats also breaks the record. amounting TO 3S3-
SSaOpl bushels against 7:56.S0S,124 bushels
year ago Last year a poor one FOR crops,
vet the railroads made larger earnings than
ever before in their history 1t is therefore
EASY TO believe that this years earnings viii
ae phenomenal. as general business is good ana
the crops are large Railroads are simply
svyanped with traffic Prosperity in this coun-
Try REQUIRES a large amount Of money, but. not
Nithstanding Wall Streets dismal talk on the
monetary situation. there is plenty OF money
N The country and a good supply at this centre.
There is now SS9OeOfNsg more money in circula-
ion than there was a year ago. New-fork
oank reserves are heavier than they have been
A. this period in many years, and. despite the
chatter about extended loans. there has been a
decrease in loans since September of S496l.'.-
$40 There is absolutely no occasion for the
sacrifice Of good securities. The present de-
Ginning tendency in stocks is not based on con-
iitions affecting real values. and holders who
sell from fright the current level will I'M
5oubiedly live TO regret their folly. The follow
ng table shows some Of the losses that present
5gures represent compared with the highest
prices OF the year.