New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-05
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock market trading was light in volume
throughout the Cay on a movement Of values
that generally tended toward a lower level
Efforts were made at the opening to create de-
rnand for the local corporation stocks. the
theory that the election Of the Tammany can
dldate would benefit the traction and gas COM
panies; that is that the Tammany Mayor and
his heads Of departments would do everything
3n their power to further the interests Of the
local corporations in return for campaign con-
1ributions. OF course, it is mere assumption
that the corporations were large contributors
TO the Tammany campaign fund, but Wall
Street nevertheless apparently believes that the
treasury Of Tammany Hall was largely in
creased through the payments Of certain peo-
pie representing certain corporations. Last
week the traction stocks were bio up on this
theory, but in yesterdays market final prices
were generally under Mondays last quotations
in the railroad list there was a fair demand
Tor Atchison. St. Paul, Pennsylvania and Louis
vile and Nashville while in the industrial de-
1lartrnent the United States steel shares and
Amalgamated Copper were bought by good
class Of traders. Realizing sales, however,
y ere heavy enough to offset the buying de-
lnand. and. as a consequence, final prices
showed net losses ia the greater number Of is
sues. Weakness in the steel stocks in the last
hour created unfavorable impression
Local money market rates were firm through
out the day, with call loans ruling at per cent
Time money was firm at per cent. while COM
lnercial paper was quoted at from 6 TO 6ls
per cent according 10 the period. The City
hanks have lost SO far this week more than
100000 in their operations with the Sub
Treasury In addition to this loss, their re-
sources have been further depleted by direct
shipments Of currency 70 the interior. The de-
rnand for money from the West continues act
i've. and il is generally believed that the out
ward movement this week viii amount TO a
heavy total According TO cable dispatches
received from London. New-York is bidding for
gold at the first named centre, and it is there
fore Likely that further imports OF the yellow
metal viii be made. Il is understood that the
National City Bank has arranged for an inn
portation Of 100000 in gold. in addition to the
s.. 100000 announced on Monday. II is not
thought likely, however. that the New-Yor5
market VIII receive a large amount Of gold
from the other side. foreign bankers viii
undoubtedly place obstacles in the way OF
N heavy exports TO the United States Discount
rates in London were frmer yesterday and IL
was thought probable that the Bank Of Eng
land would advance its minimum rate at its
usual weekly meeting to-day. The foreign
financial situation is sound. but conditions
abroad do not encourage the expectation Of inn
portant shipments Of gold from foreign centres
10 New-Yo-lI The local situation, however,
has the assurance Of assistance from the Fed
eral Treasury in case Of emergency. Secretary
Shaw has already Increased government deposits
in banks outside Of New-York, and he may be
depended on 10 treat The local institutions with
similar generosity. The monetary outlook is
rot at all depressing. and there is absolutely no
occasion for uneasiness over the present normal
outgo Of funds TO the West