New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-12-16
STOCK MARKET OPERATIONS.

Stock market trading was active throughout
the five hours Of business on e movement VI
values that showed wide fluctuations, with net
advances predominating at the close. In
number Of the leading securities important
gains were recorded notably in the case OF
American Hide and Leather. Brooklyn Kappa
Transit, Central Leather. Kansas City Southern
nreferred METROPOLITAN, Peoples Gas, and Anal
ranated The last named stock closed. now
ever we'll under its best price of the day. Wh4le
throughout the list the last quotations as a rule
showed material reaction from the high hgures
owing to the influence of heavy realizing sales
Various runlors were in circulation regarding
tbe advancing tendency Of the leading railway
and industrial issues but there were few actual
nevs DEVELOPMENTS affecting the intrinsic
worth of investment shares, the only important
announcement of the day being IN connection
with the dividend policy OF the Rock Island OIL
rectors Trading conducted in large VOL
unoe in the industrial shares; also in Brooklyn
Rapid Transit, Union Pacific, and Reading the
extensive buying in Brooklyn Rapid transit
doubtless rejecting efforts the part OF the So
CALLED insiders to make an attractive market
for fine bonds for the listing Of which apphca-
ton has tust been made with the Stock tx
change Anaconda and Analga1nated were
again In demand, especially AnaIganaled'
which sold above 102 on buying representing
the same class Of trading which has been a
feature of the operations in this security IN lle
last few days. Anaconda sold as high as 1sS
and as low as 1884, closing at small fractional
net decline In the foreign markets prices as a
-u1e were lower. Local call money rates aver
aged II per cent, while there was no material
change in rates for time funds. Sterling e1-
change was strong
According to the known movement or money
in the week local banks have gained more than
So 100000 in their cash holdings Although
they lost on their operations with the SUD
Treasury, they made large gain on the interior
7,ovenent of currency, receipts exceeding ship
ments including new gold, to the extent of near
w S6OOoOOO. Heavy receipts from the interior
were due to the high money rates at this centre
the stiff price for money naturally ATTRACTING
f,,nds from, ont of town Unless there has been
a largo expansion in loans and deposits the
weekly statement of the Clearing House lnstl-
tutions ought to show an increase in holdings
large enough to make good the dechne last
week. which wiped out the reserve above legal
ran,,ireroents II IS likely that next weeks bank
statement will show q material increase in cash
and reserve owing to the distribution OF the IN
| terest on government bonds which the Secretary
of the Treasury paid yesterday; also 10 the dis
| bursement of funds under the Panama Canal
Emergency BILL which Will release SlloOOOOO
! The greater part OF the latter amount VIII pc
placed with the city banks In the foreign fnan-
dications point toward easier rates for funds IN
! New-York after the turn of the year, and higher
! rates in London Berlin and Paris The demand
! for money In the leading foreign centres and
! easier rates in New-York undoubtedly will en-
/ courage an outward movement of gold from the
/ United States in the new year.
| The full report Of the country's foreign trade
! for the month of November and for the eleven
! months ended November 80, which was received
| yesterday from the Department Of Commerce
/ and Labor, shows the largest merchandise
ports for any month IN the history of the coun-
try. with the exception of December. 1908. Total
exports amounted in value to $40 297. $50, being
an excess imports of ST ST., $50. Imports
also heavy. amounting to a larger total
| than in any November on record, and being ex-
ceeded by only four months IN the history or the
countrys foreign trade. For the eleven months
of the year exports Of merchandise have ex-
| ceeded imports in value S34S. 742. 1873. but not
! wfthstanding this large excess the country
! shipped in the time SIS 1856 421 more gold
than II received, and IL it were not now for the
high rates prevailing in the money market New
York undoubtedly would be sending the precious
metal abroad at present. 1t is likely that in the
new year money will decline and sterling will
advance TO level which will bring about ex-
ports Of gold. but this outlook does not worry
| Wall Street. gold shipments have ceased to
be bear factors American securities. The
mere fact that the United States is In position
! which permits It to send the metal to foreign
nations ought to be bull argument on stocks as
| It reflects the enormous wealth OF this country
and the country's ability 10 accumulate large
fieeo al IONS in he ign