New-York tribune., 1905-07-18
STOCK MARKET QUOTATIONS.

In yesterdays stock market trading light
IN volume on movement Of values that gener-
ally tended in the direction of higher quotations.
although at times considerable irregularity was
reported. Commission houses were not active
factors in the dealings, while the more important
speculative interests were not much in evidence,
the greater part Of the days business being for
the account of the board room element In Union
Pacific United States Steel preferred, Reading,
Amalgamated Copper, Tennessee Coal and Iron
and Erie fair amount of activity was recorded,
but in the general list there were few important
operations. Many of the larger interests are out
of town. and, apparently, they are we'll satisfied
TO leave the market in charge of the room trad
ers, believing that in their absence 1t will not
be possible for the latter to bring about impor-
tant changes in prices. as far as lower quota
tions are concerned. Stocks are in strong hands
the people who the largest holders are not
yet ready to SELL and as at the moment there
is nothing in the general situation favorng dis
turbance in Wall Street the chances Of a ma
terial decline in quotations are not promising
At the close the principal issues with the ex-
ception of Reading, Southern Pacific Baltimore
and Ohio Rock Island and Louisville and Nash
Vile, showed small gains, Tennessee Coal
and Iron, United States Steel preferred North
west, Ontario and Western and United States
days highest prices were made in the morning,
the movement of values thereafter being some
what disappointing to the advocates ofSadvanc-
ing quotations.
The governments report of foreign trade in
June, figures of which were received yesterday
shows larger volume of exports and imports
than in any corresponding period in the history
of the country. Exports of general merchandise
compared with the same month a year ago
increased in value $27S7O 4OS made UP of a
gain in shipments of food products and cotton
of $17253277 and $1O617 .131 of miscellaneous
articles, chiefly manufactures, while imports in
creased in value $927S439 The excess of ex-
ports over imports was in value $50 $50 600 as
against an excess in June, 1904, of SD OCT 631
The total exports for the fiscal year amounted
in value to $1,51S 462 S33 the largest figures
ever recorded and the total of imports amounted
to S11115OI500 also a record. A total foreign
trade represented in dollars to the extent of
S2,635,91O,333 for twelve months is something of
which the American public should be proud. es-
pecially when it is borne in mind that in that
time the shipments of breadstuffs declined from
the preceding year TO the amount of over S41-
100000. All indications point TO further growth
in the country's foreign trade which means that
the United States is placing its goods in the
markets of the world at profitable figures and
increase
its purchases in other countries. The total ex-
cess of exports over imports in the last year
amounted in value to S4O0 955 1873 but. of course.
this amount offset by international financial
operations through the exchange market to an
extent that made gold imports to settle the trade
balance unnecessary.
The increase in bank holdings as shown in
Saturdays Clearing House statement has Gre
ated the impression in some quarters that the
banks will be strong enough this fall to handle
the demands for money in connection with the
harvesting of the crops and for general business
purposes without advancing the rate for call
loans. but in the best informed circles 1t is be-
1ieved that the local money market will not run
through the autumn season on the easy basis
that prevailed last year. Much of the increase
in bank holdings represented funds received from,
the out of town banks in connection with the
call for government deposits, which Yesterday
were turned over to the Treasury and funds re-
ceived on account of the Japanese bond suh
scriptons. There various factors in the
situation that are making for higher rates for
money, one Of which is the constantly increasing
cost OF living.