New-York tribune., 1905-12-24
Closing prices of chief active bonds dealt in.
STOCK MARKET OPERATIONS.

In the two hours Of trading in yesterdays
stock market prices were strong in the greater
number Of issues on an active volume of bust
ness with the heaviest dealings in the copper
shares, the local traction issues, Union Pacific,
United States Steel stocks, st. Paul and Cana
dian Pacific The last named stock was ad-
vanced without any difficulty, owing to the rel
atively small supply Of the issue In the Street
and to the willingness of buyers to become
owners of the security at higher prices. Earn
ings Of the road are so heavy and the pros
poets of the company are so bright that natu-
rally there are many people who are only too
glad to buy the stock, confidently believing that
despite the advance which already has taken
place in the issue there will be further mate
rial Improvement in the course Of the next
few months. Following the publication of the
bank statement, which made a somewhat dis
appointing showing, there We're recessions in
certain parts Of the list, but declines were not
important while at the close the greater num-
ber of shares presented net advances. The
bank loans increased s1,543, ,00O while cash de-
creased $488,30O. The increase in deposits of
$1,18s.9OO corresponded quite closely to the
changes in the loan and cash items. Reserve
above legal requirements increased $19S,325 to
s4159.400 compared with ,225 in the same
week last year and S12,574, 625 in 1903.
Remarkable strength accompanied the move
ment in Anaconda, the stock advancing to new
high record for the year, closing q net gain
of PIX per cent. Buying of this stock comes
from excellent sources. and each day the
curity is becoming scarcer in the Street, and it
will not be long before the greater amount of
the issue VIII be safely tucked away in investors
-z1s%s TI,1
copper trade, both in this country and in Europe
naturally induces an active buying movement of
the copper shares, but unfortunately too much
enthusiasm is being exhibited over a number of
conner issues on the curb market which are
without any great merit. Anaconda is an old
established dividend payer, and the fact that the
stock represents the greatest copper mine in the
world ought to lend additional interest to the
current movement in the security. 1t is quite
generally believed that in the last week Of the
year there will be activity and higher prices
in the majority of issues despite the probability
of high rates for money. SO far strength in the
money market has failed to exert an adverse
influence on the stock market speculation, and it
is therefore not likely that stiff rates in the last
week of the year will cause any material set
hack in the bull campaign. While there has
been an enormous bull speculation. it so far has
| been conducted in orderly manner. backed
! by the strongest capitalists in the country.
Probably there never has been time in the
history of Wall Street when there have been
! so many rich men united for the single purpose
! of advancing quotations for stocks as recorded
! at present. For the greater number of Wall
Street operators it will be a Merry Christmas,
as their profits have been large, While they
have the pleasant expectation Of better things
/ TO come in the year
J According to the trade reports received yes
terday by the commercial agencies covering the
business situation in all parts of the country
there have been no unfavorable developments
in the last week in any important line of in
dustry End Of the year summaries of the
country's industrial activities viii make attrac-
tive reading for the people who are interested
in the material prosperity of the United States