New-York tribune., 1905-11-26
sUnli5ted.
Closing prices of chief active bonds dealt in'
STOCK MARKET OPERATIONS.

rS7t,,Ia tbara were a number of weak spots IN
Yesterdays stock market chiefly in the opening
dealings the tendency in the greater part OF the
two hours OF trading was In the direeuon Oh
higher quotations. Following the puohoauoh o.
a favorable bank statement, the whole list
showed great animation, sharp advances pelns
recorded in q number of issues, notably Ten
nessee Coal and Iron. which enjoyed maximum
gain of 6,A points There were no new develop
nents affecting this issue, the advance ap-
parently being due to a scarcity OF tne suoch
available for speculative purposes, the specula-
tion of course, being based on the prosperous
condition Of the Southern iron trade and Per
hans tn some extent on the possibility or a
Southern iron merger. Bank statement hgures
showed as q result Of all changes an increase HI
the reserve above legal requirements or $o'A4i'-
$50 to 50, 157. 100, which compares wltn re-
serve a wear ago of So, S,3S1,375 and $6.l2o.2oo IN
1on9 Loans decreased nearly S5,0Oo.00o. while
cash increased more than 100000, the change
in these two items hardly balancing, however, the
change in deposits the in the last named
amounting to only S10S.600. Actual cash holo-
,nes of the associated banks are mueh hghter
than they were at this time year ago. put' Oh
the other hand, present loans are we'll unoer the
record of this period in 1904, and in most par
ticuIars the current position OF the pahks Is
stronger than It was last yea-. Money rates
IS not likely that there will be a stiff level OF
quotations until near the end Of the year, when
nrensrations for the large January interest ana
dividend disbursements undoubtedly will cause
passing furry in money. The heaviest gains ih
the active list made by Amalsaineteo
Copper American Smelling, Brooklyn Kappa
Transit. Canadian Pacific, Kansas City Southern
nrefsrred National Lead, Sloss-Shef1eld ana
Tennessee Coal and Iron
while the reports of the commercial agencies
for the week show some irregularity in trade
conditions the general position OF the countrys
Industries remains most prosperous, with no in
dtcat,on of an immediate setback in the various
lines There is some uneasiness over the pos
sfhflitv of labor disturbances but from what
NAV he gathered in labor circles the DISPOSE
tion of the yorkingmen is not in favor Of whole
sale strikes, and 1t therefore Is unlikely that
differences between labor and capital VIII ieao
to a cessation of work. That business IN the
country is heavy is reflected in the course or
bank clearings, which {n the last week showed
an increase for all the clearing houses in the
United States of s469, ,8S3,77s, comparison being
made with the corresponding period In 1904.
Railroad earnings in the case of most companies
present gratifying increases. the roads in
the Southwest, which for many weeks have
made relatively poor returns, showing improve
ment, Missouri Pacific, for instance. for the
third week in November reporting a gain Of
ss1, 900. Missouri Pacific has failed to share to
any extent in the upward movement that has
been in progress the Stock Exchange for
many months but there now indications
that the larger interests getting ready to
put the price OF the issue higher, well as the
quotations of a number of shares of companies
operating in the Southwestern part of the coun-
try. ST Louis Southwestern doubtless will be
taken in hand, and it is probable that better
figures soon will be recorded by Atchisen and
Southern Pacific, Apparently there is no in
tention on the part of the market leaders to
permit important decline In values at this
juncture, especially as monetary conditions are
beginning to show much Improvement.