New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-10
BONDS.
THE DAYS OPERATIONS IN STOCKS

Stock market transactions were nodera tey
active in the two hours of business with
prices generally moving toward a higher level
Expectation of a favorable bank statement. the
more reassuring advices from the Far East and
the presence in the market of opera tors who are
identified with strong financial interests encour-
aged speculative sentiment and increased en-
thusiasm the bull side OF trading. II It had
not been for the fire in the Stock Exchange
building. which interfered to a considerable ex-
tent with the wire service. transactions doubtless
would have amounted to larger total than re-
corded. In the foreign markets prices were
higher, and in foreign financial circles Il was
thought that the reports regarding the so called
war situation as affecting Japan and Russia pre-
scented a more peaceful outlook. and that q con-
fiict would be avoided. British consols were
higher on the London Stock Exchange; also the
japanese and Russian securities. In the local
market the heaviest dealings were in Amalga-
mated Copper. Southern Pacific, United States
Steel preferred. Mexican Central ST. Paul and
Union Pacific. in which advances ran from frac-
tions TO one point, except In Mexican Central,
which enjoyed a net gain of nearly two points
There news Development affecting the last
named issue. although there were various re-
ports regarding its future, rumors that were
similar TO those which were current a year ago
when the so called Stow pool was operating in
the Mexican shares. Closing prices were gem
orally hrm with the earlier advances well main
tanned.
According TO the weekly statement Of the AS
ISOLATED Banks cash holdings increased in the
last week over $100OOOOO while reserve above
legal requirements increased over $1,000 600 10
SD, 6S6,915. compared with $14.S1O. 800 q year
ago. and S12.95S. 400 IN 1902. Loans showed a
further expansion, increasing 81, 42l 600. and de-
posits. $19,534. 400. the last named item being
In accord with the changes in loans and cash.
Loans larger by S44. 900 90 than at this
period a year ago. while actual cash holdings
are only about SS.000OOO larger. the latter item.
compared with 1902. showing a decrease OF over
50 100000 At this time in the year Just named
loans stood SS6i .23G. 500 against 1913 992 200
present. There IS occasion for uneasiness
the large loans, inasmuch as they are
cured by sound collateral and backed by solid
business and financial conditions. while they
handled by men who well informed regarding
the limit TO which credit tiscalties should be al
lowed 10 run. The reports for the week from the
commercial agency show ii generally quiet sit
uation In trade centres, with an outlook favor
ing greater activity In the spring. Labor trou-
hles are less pronounced and employees show
more willing disposition to have their wages re-
adjusted TO a lower scale. In the iron and steel
business the hope is entertained that the grow
ing ease in the money market VIII Increase
bujIding operations before long, in the event of
which the earnings Of the steel companies VIII
be largely increased through the demand TOT
structural materials