New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-01
Closing prices yesterday Of bonds dealt In
STOCK MARKET OPERATIONS.

While the volume of business on the Stock
Exchange was not heavy. prices were strong in
the greater part of the five hours Of business,
under the influence of covering of shorts and
traders operations for advance An idea
prevailed on the Exchange that last weeks high
rates for money would not continue in the cur
rent week. while apparently it was believed that
the per cent rate recorded in Fridays market
marked the high level of the season. 1t is en-
tireIy too early to accept any conclusion of this
character It is not too early, however, to say
that there will be no acute disturbance in
money this year. Following the publication Of
the bank statement which showed an increase
in cash of 1922 800 and gain in reserve above
legal requirements of over 100000. the gen
eral market became a trifle more active and de-
veIoped further strength. The bank statement
was totally different from that which the known
movement of money in the week indicated, but
as the way of making bank statements Is queer
and as at this time the larger interests want no
disturbance in money, the favorable averages
shown were not at all surprising. Loans de-
creased s4s10, 300 and deposits decreased $780,
700 making possible comfortable increase IN
the reserve which now stands at $l,O40,o25.
cornnared with s19913025 at this time a year
ago The heaviest dealings in the day were III
AmaIgamated Copper, the railway equipment
OFAA-o'
advanced over per cent; Reading, Metro
noIitan. Union Pacific International Paper and
Canadian Pacific Further denials from official
sources have been received regarding the re-
ports that there would be trouble in financing
the Canadian Pacific account in London Sen
timent at the close was bullish, and predictions
of higher prices were freely made.
Trade reports received yesterday showed in
their exhibits from various parts Of the country
a situation Of general prosperity. A reflection
OF the growth of trade compared with this
time a year ago is presented in railroad earn
ings and in bank clearings, the latter, for in
stance in the last week amounting to $326,758-
1872 more than in the corresponding period in
1905. these figures representing the gain of all
the clearing houses in the United States The
volume Of business that is now being conducted
in the country requires a large amount Of money
for it's financing. and it is therefore likely that
there will be a brisk trade demand for funds
throughout the fall accompanied by the arrival
of large amounts Of gold from abroad. Condl-
tons in the foreign exchange market at the
close Of the week suggested further engage
ments of the yellow metal for shipment to the
United States, and in some quarters the bellet
was expressed that before the end of the year
as much as S30000.000 would be added TO our
supply of money through gold imports. The
important banking interests have decided TO
keep the money market situation in a position
that will not involve disturbance or interfere
with the legitimate progress of business, for the
very good reason that trouble in the money
market would cause acute disturbance on the
Stock Exchange. The larger interests are the
holders of the great bulk of the floating supply
Of stocks. ana 1t is therefore quite natural that
they are working to prevent severe strain on
the money market at a time when the demand
for funds outside of Wall Street is so urgent
The public is not in the present market to any
great extent If the public had the stocks there
might be some fireworks in money ana securlues
movements.