New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-17
Closing prices Of chief active bonds dealt IN
with net changes. follow:
STOCK MARKET OPERATIONS.

Transactions in yesterdays stock market werc
heavy in volume a movement Of values which
showed spectacular advances in number Of
issues and substantial gains for the day in most
OF the active shares. AT times in the early deal
ings irregularty, with declines in various parts
of the list, reported, the heaviness being
due to realizing sales. but in the greater num-
Der Of issues thus affected afternoon movements
carried quotations above the closing figures of
the preceding day. An advance of over six
points in Colorado Fuel and a rise of over three
points in Pressed Steel Car among the i'm
portant features the operations in these shares
representing little beyond the dealings of mill
ionaire spectators. Throughout the list of high
class railway issues, notably in Union Pacific,
Reading. Pennsylvania and Baltimore and Ohio,
there was an excellent commission house de-
mand while there no indication tending to
create the belief that the substantial market
leaders had parted with any considerable
amount of their holdings. The copper shares
were weak notably Anaconda in which the de
cline was said be due to forced selling by
Western operator who has been opposed to the
Standard Oil interests. There was again large
business transacted IN the bond department,
especially in the low priced issues. Money ruled
at per cent with high rate of 6, while ster-
ling exchange was trifle under the level of the
preceding day. The engagement of ST 100000
In local banking circles it is estimated that
the amount of foreign capital lent here
maturing within the next two months is upward
of S150,000.00O These loans may be renewed
if conditions abroad do not change for the worse
and if there is actual need for the money il
this market. 1t is quite likely that if the inter-
national conference upon Moroccan affairs
which is being held at Algecras, Spain, is pro
ductive of favorable results France will be will
ing to renew loans in this market and postpone
the calling of gold from the United States At
the moment there is no necessity. as far as the
condition of the Bank of France is concerned, for
the Withdraw wal Of gold from New York and the
recent movement of the Paris cheque on London
does not indicate that there is any scarcity OF
funds in the French capital. Conditions change
rapidly in the foreign exchange market, and now
it begins to look if some little time would
elayse before sterling quotations will advance
to a point which gold could be shipped direct
to London while the rise in the Paris cheque
on London al present exchange rates here makes
shipments of gold to Paris arbitrage move
ment improbable The position of exchange at
this centre has been improved by the enormous
exports OF merchandise from this country the
statement of foreign commerce for the month OF
December. which received yesterday, show
ing the largest shipments of general merchandise
for any month in the history of the country.
Imports in December were heavier than in any
December on record yet there was an excess of
exports over imports the value Of $9S,5!3 7O5.
making the total excess of exports for the last
year SILT SOB 497. There was enormous in
crease in the outward movement of breadstuffs
and cotton; also a decided gain in the shipments
OF manufactured articles.
If exports of merchandise from this country
continue at the present great volume il may he
possible for this country to offset trade bal
ance the heavy obligations which American
bankers have incurred abroad ard which are
represented b;- foreign loans in this market
The great excess Of exports imports has
injected a new factor into the present foreign
exchange situation and unless there should he
some great disturbance abroad making neces-
sary the accumulation of large supplies of gold
this country probably will not be called upon 10
shin important amounts Of the precious metal
10 Europe. Money market rates both in this
country and abroad, easing. and. despite the
great activity I'm trade in the United States.
there appears To be little probab uty Of
high rates for funds in the course Of the next
few months. Money is moving in volume TO