New-York tribune., 1905-08-08
Closing prices yesterday of active bonds dealt
in with net changes follow:
STOCK MARKET OPERATIONS.

In the greater number of securities prices
showed decided strength in the five hours of
trading on a moderately active volume of busi-
ness. Last quotations were not far from the best
of the day, despite afternoon realizing sales,
many of the more prominent issues showing net
gains of 1 per cent and more, as. for instance.
in Sugar Refining, Canadian Pacific, Northwest,
Delaware and Hudson, Louisville and Nashville,
New York Central, Northern Pacific, Reading,
Tennessee Coal and Iron and United States
Steel common. All the iron and steel shares
We're strong features, also the railway equip
ment shares, while marked advances were made
by many of the high class investment stocks.
Amalgamated Copper. American Smelters and
Union Pacific were relatively heavy, but they
furnished the only exceptions of consequence.
Commission houses were fairly well supplied
with buying orders, both for speculative and
investment account, the latter being quite
noticeable in the bond department. in which
total transactions amounted in par value to over
81. .000, 900 Bond houses are having no difficulty
in disposing of their offerings. and in this par
ticular they are helped by the practical absence
of new issues. Outside of the Japanese bonds
there have been few new bonds placed on the
market in the last few months, and the chances
are that there will be important railroad
offerings until after the turn of the year. The
general considerations affecting the investment
Wall Street, and until the money market changes
radically it is not thought likely that there will
be any important recession in prices. Money
was easy yesterday, but the sterling market was
strong.
Reports received yesterday from the traffic
managers of various Western railroads
extremely encouraging for the advocates of
higher stock market values. Railroad officers
believe that the present heavy volume of freight
will continue in the rest of the year. we'll
in the new year, while they confident that
there will be no setback of Importance in any
line of trade. Naturally the railroad men
enthusiastic the outlook for large crops,
las bountiful harvests mean large tonnage, and
it is a noteworthy fact that preparations al
ready being made to increase crew forces
and accumulate for the expected heavy fall
movement of traffic. Crop reports now coming
TO hand do not bear out any of the recent pessi-
mistic forecasts, especially in the case of corn,
which promises to give the largest yield in the
history OF the country. With all the favorable
prospects for business and big harvests, there
are some bankers in various parts of the coun-
try, to say nothing of number of wise men
in the Street, who say that there will be no
demand this centre for funds in the autumn.
Every year the prediction has been made in
certain quarters that the West and South would
need no assistance from New-York in financing
the crops. but. of course, in every instance it
has been found that the interior has been COM
PEELED to withdraw funds from this centre Last
Saturdays bank statement showed a further
decline in reserve above legal requirements,
bringing that item to very low level for this
period OF the year, namely, $12163.525. COM
pared with s56, 3OS,S50 at the same time in 1904
It would appear as if the clearing house insti-
tutions would be compelled TO reduce their loans
TO a considerable extent in the of the
next few weeks.