New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-14
Eek dividend.
BONDS.
STOCK MARKET OPERATIONS.

Transactions in Yesterdays stock market were
moderately active in few issues put IN
the greater number of securities operations
amounted to only small totals. The movement
of values showed great irregularity. with the
final tendency in the direction of lower quota
tions last prices presenting small net losses as
compared with the preceding day. Bear press
ure was again exerted against the United States
Steel securities especially the common STOCK
which made a new low record at SIS. while the
preferred, after brief rally, sold down TO OLA
closing at net loss Of per cent Inc
heaviest transactions were in st. Paul. Con
solidated Gas. Pennsylvania, Southern Pacinc'
the Steel issues. Union Pacific and Amalsa-
mated Copper. In the last named STOCK 1uttner
operations for the rise were reported. and as
consequence of the demand for the issue Its
price enjoyed maximum gain of z per cent
with a net gain of Ia Buying Of this stock In
the last few weeks has been for the account OF
people who are well informed regarding the ar
fairs Of the company. while there has also been
q good demand for the stock from spectators
who are in the habit OF buying securities when
they are cheap and selling them when they are
dear The statistical position OF the copper
trade encourages the expectation that earnings
in the copper industry will be large enough In
the current year to provide for dividends on the
copper shares, with comfortable surplus left
over
Despite the enormous exports OF gold in the
week the estimated movement OF currency indt-
Gates a loss of less than 81 900 900 IN bank cash
holdings. or course, the statement OF the as
ISOLATED banks will not show the LOSE In gold
which Will be shipped by to-day's steamers
owing TO the fact that Withdrawals made ct the
end Of the week figure for only q small amount
Of the total on account of the average system
which is employed in compiling the Clearing
House figures. The banks received in the week
from the interior nearly S9000OOO. while ship
ments amounted to only a trife over S2.1oO,ooO.
making the gain from the interior over $1,000
600 In addition there was a gain on receipts OF
new gold and on bank operations with the Sub
Treasury the total OF which, deducted from the
loss gold exports left the comparatively
small net loss reported. Receipts from the
interior were larger than in any corresponding
week in any year since 1901. The greater part
Of these receipts represented United States de-
posits in interior banks which had been recalled
and drawn against before May 10. The opera
tons between the banks and the Sub-Treasury
of greater magnitude than in any pre-
ceding week record, this being due to the
Panama Canal payment OF S40.OOO.0O0 and the
receipt % about S37 100000 OF United States de-
posits withdrawn from national banks.
There have been many unusual financial
operations in the last week that 1t Is difficult TO
make fair estimate OF the actual position OF
the local money market 1t is safe to say, how
ever that. despite the large outward movement
of gold. rates for loans Will not for the present
at least make a material advance from the cur
rent level Call money ruled at per cent while
time funds in fair demand at from 21a to
per cent according to the period Sterling
change dull. with demand bills trifle above
the preceding days figures. Domestic exchange
at interior cities on New-York continued to rule
at a premium. large amount of gold will go
out by to-day's steamers. and further exports
will be made next week.