New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-28
SUnlisted-
Closing prices Yesterday of active bonds dealt
STOCK MARKET OPERATIONS.

After brief period Of weakness at the open
,nr the greater number of securities showed
decided strength, which was we'll maintained
until the last hour when, under the influence
of renewed liquidation and bear pressure the
whole list sold off, closing at the lowest polntS
of the day Weakness in the foreign markets.
due In great part to the disturbance IN RUSSIA
,yas NOT an active influence in the early local
market but 1t was thought likely that the hqul-
dalton In the afternoon was helped by the con-
sideration of the serious possibilities fnVolVeo
in the Russian labor outbreak. That the sltua-
ton is serious is reflected IN the decision of the
Russian government to postpone for time the
proposed loan. There was little effective sup
mort in the course Of the decline. either from
the commission house element or from the lead
ing speculative interests, the latter doubtless
having all they could handle in looking after
their own accounts which, while heavily mar
gined might be seriously affected if there should
be disturbance IN the local market. Among the
active list the chief losses were made by Cana
dian Pacific, Louisville and Nashville, New
York Central, Reading, Southern Pacific and
Union Pacific. American Smelling strong
feature also Great Northern preferred and
Northern Pacific Money was relatively easy
Trade reports received last night from the va
rious commercial centres in the United States
were uniformly favorable, all lines, particularly
iron and steel showing increased activity,
ders IN the iron and steel industry being as
rule heavier than before recorded. The
general strength Of the industria.S position of
the United States has been discounted to great
extent by stock market values, and this fact
Is gradually becoming more seriously considered
by Wall Street operators, who have been count
ing on a long period of uninterrupted bull en-
thusiasm on the Stock Exchange.
According TO the known movement of money
In the week the local banks have lost more than
100000 in cash holdings Shipments to the in
terror were in excess Of receipts. while the banks
also suffered a loss on Sub-Treasury operations.
the combined items being heavy enough to offset
the gain new gold amount to more than S.
100000 Owing to the peculiar system by which
the weekly statement Of the associated banks is
compiled it is useless to make a prediction as to
the probable showing in the Clearing House ex-
hibft to-day, although general opinion favors
the idea that the changes will be unimportant
compared with the figures of a week ago.
There has been a certain amount of liquidation
IN the stock market in the last few days and, as
a consequence the loans made on speculative
account ought to show decline, and if this
proves to be the case improvement in reserve
above legal requirements may take place The
course of the money market in the last six DAYS
favors the theory that there will be moderately
good showing by the banks. Ease in money.
of course will help an outward movement of
gold Exchange rates again moved against this
centre yesterday, and all indications pointed to
gold exports early in the week, although
there were no actual engagements of the metal
There is an active demand for money in the for
eign capitals, and in the event of further dis
turbance in Russia, Paris may be compelled to
withdraw large sums from London in order to
protect the holdings of Russian securities held
at that centre. AT the moment the foreign sit
uation is far from reassurng and if acute
trouble should develop in the foreign markets
the United States would be called upon to send
large amounts Of gold abroad