New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-19
'Cnlistsd
Closing prices yesterday Of bonds dealt in.
STOCK MARKET OPERATIONS.

There was good sized volume OF buying
ders at the opening for outside account. while
in the course Of the day commission houses were
literally supplied with demands for shares from
new buyers who were attracted by the strength
shown IN the initial trading Although IN the
subsequent dealings there was some irregularity
in price movements. owing TO profit taking sales
the general market presented q strong tone. with
the greater number OF issues at net advances at
the close. Wire houses sent out extremely bull
ISL adv1ces in the day, interviews with leading
market interests were decidedly encouraging and
the presence IN the market Of powerful specula-
tive pools working for higher values naturally
served TO create confidence IN all circles Of the
Street Canadian Pacific, OF which there is little
stock IN the market. again made g sharp ad-
vance, the movement being accompanied by re-
newed predictions OF g price Of 200. In view OF
current enthusiasm IN the Street and the faVor-
able factors affecting the Canadian Pacific prop
erty. It is not unlikely that such a price VIII Dc
attained. The company has many valuable as
sets one Of which is the stock control OF the
Minneapolis. St Paul and sault Ste Marie
which shows in its annual report Just received
earnings OF more than II per cent on It's com
mon stock Reading was bid up by powerful
operators. enjoying maximum advance OF more
than points and q net gain OF IL In the case
OF this issue. IS we'll elsewhere in the list,
every advance attracted heavy realizing but the
power of absorption was so large that much OF
the early Improvement IN quotations. in the ma
1ority Of cases. was retained at the close The
Locomotive shares Louisville and Nashville,
Northern Pacific and American Car and Foundry
were among the strong features Union Pacific
closed unchanged. while United states Steel pre-
ferred and St Paul made only fractional gains
Money on call ruled al 81 Per cent.
From the way IN which currency Is moving
from the money centres TO the South and West
II Is evident that the total requirements OF
funds for financing the crops will much exceed
early estimates. The requisites for cash have
UP TO date been met by shifting loans so as TO
release money from the bank reserves. and this
is g measure that apparently can continue TO be
extensively used for considerable time TO come.
The rearrangenent OF loans. 50 far It has
proceeded. has been effected with no great
change in rates and the belief is widespread
that especially high quotations for money will
not be reached this fall. Notwithstanding the
immense demand for cash The importation Of
q liberal amount OF gold will. Of course. aid
materially IN the regulation Of the money mar
ket. Means for payment for gold obtained is
provided by the heavy shipments of cotton 10
Europe supplemented by sales OF American Sc
c,Irities which have been notably large recently.
me p0lh q me issues olSkoS04 O. eoIodd were
placed al Berlin and At Paris Many japanese
bonds that were subscribed for IN the United
States have IN the last few weeks been resold in
E>1rope Undoubtedly the existing depression
IN the foreign exchange market IS. in q material
decree due TO the transactions involving the
transfer OF stocks and bonds from the United
States 10 Europe The chief individual factor.
however. in forcing down exchange rates IS the
export movement OF cotton, which soon VIII be
followed by an extensive outward movement %
grain. The price OF bar gold was advanced yes
terday in London apparently IN expectation OF
e heavy export demand. Money was firm II
the British capital and discounts ruled az the
Bank OF England's rate and II was thought that
there would he q further advance IN that in
stitution's minimum quotation Thursday.