New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-06-10
BONDS.
STOCK MARKET OPERATIONS.

Prices for securities moved in an Irregular
manner throughout the day on small VoIuIne
of business. total dealings amounting to only
lS5.979 shares, with the heaviest operations IN
AuaIgamated Copper Brooklyn Rapid transit
St Paul, Atlantic Coast Line, Union Paclrc'
Reading Louisville and Nashville, American
Steel Foundries. United States Steel preferred
and American Smelling. In these issues there
was no definite tendency until the last hour.
when they became strong under the influence
of q moderate increase in the buying demand
especially in Louisville and Nashville, Atlantic
Coast Line and American Smelling, which
showed gains of 1 per cent and above. In the
general list however, final prices presented only
fractional Improvement The foreign markets
were as quiet the local market, and the Tor
eign element the local exchange practically
handled no transactions on either side Of the
account There were no developments in the
days news accounting for the apathy on the
part of spectators, although the room traders
and commission houses asserted that the trans
fer tax. the uncertainty over the outcome Of the
Equitable affair. and the approach of three
day holiday in London contributed to the dull
ness Probably a number Of traders were I'M
willing to make commitments until something
more definite is known regarding the condition
of the crops. The governments report giving
conditions as of June !, VIII be issued after the
close of business to-day, and houses with west
ern connections believe that the showing VIII
be favorable, house making the estimate
Yesterday that the official figures would IN
dictate 2 total winter and spring yield OF wheat
Of from 65OOOOOoO to Cts. 100000 bushels. Acre
age mas been increased both in the winter ana
spring wheat belts. and some experts are OF the
opinion that the yield will be from thirteen to
fifteen bushels an acre.
According to the known movement or money In
the week the local banks have lost more than
81 600 in cash. but it is unlikely that this
will be offset by a reduction in loans large
enough to prevent a decline in reserve above
legal requirements. Money market rates do not
foreshadow a reduction in the reserve, and the
general money market position presents no argu-
ment for lower prices on the Stock Exchange
Outside of the transfers of money to San Fran
cisco and New-Orleans, the interior movement Of
currency in favor of this city, gross re-
ceipts being heavier than in any week since the
week ended April q. Transfers to San Fran
cisco doubtless were made for temporary pur-
pose as tn re was deposited yesterday at that
city 81 900 900 for transfer to New-York. Room
traders do not appear to be bearish for more
than quick turns, doubtless basing their attitude
on the facts that real liquidation
pleted several weeks ago. and that stocks
are now in remarkably strong hands. While
no great activity is looked for at the moment,
the greater number of Wall Street interests be-
lieve that remote period there Will be a
resumption of bull operations large scale
assuming, of course, that conditions in the po
litical and business world would remain in their
present favorable position.
Reports received last night from the CONNER
citl agencies summed UP the situation in the
phrase better feeling" based on the more
sonable weather which has helped the crops
encouraged a larger volume of retail trade. and
frightened the outlook for the fall business
That trade in general is better than it was a
year ago is reflected in bank clearings and rail-
road earnings. which show heavy gains
pared with 1904. Bank clearings for instance
for the week ended last night were 20 per cent
larger than IN the preceding week. and 81 per
cent larger than in the corresponding time a
year ago 1t is hard to find weak spot in the
industrial situation in the United States.