New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-14
sCnlisted.
Closing prices of chief active bonds dealt in,
STOCK MARKET OPERATIONS.

While the volume Of business in the short SEES
sion OF yesterdays stock market large, the
movement of values exhibited great irregularity.
with the tendency in many issues in the direc-
ton Of lower quotations. Declines. however.
were not important, and represented nothing
more than realizing operations incident 70 the
end OF the week or course. there were excep-
lions 10 the heaviness that prevailed in most
parts OF the list notably in the case Of the local
transportation shares. which were strong
throughout the two hours Of business especially
Brooklyn Rapid Transit. which in the last few
minutes Of trading advanced points. At the
close quotations in the greater number OF issues
showed unirnportant changes compared with
Fridays last figures. Notwithstanding the pub
lication OF a most favorable bank statement
there no disposition 10 work for higher
prices in the general list in the last half hour
traders doubtless operating on the theory that
stocks should he sold the announcement of
good news. AS generally expected cash hold
ings showed a large increase. amounting 10
Sl5663o00 This was a bigger gain than Fri
days estimates. but il included the increase
which should have been shown in the bank state
ment Of the preceding week Loans expanded
only S3S3,0o0, and as a result Of all changes
the reserve above legal requirements advanced
Sl2,23I $50 10 SO sos $50. as compared with
S24 59275 in the same time a year ago and
S23 $50 in 1904 There is every reason 10
believe that in the next few weeks bank holdings
will show big expansion, and as a consequence
II is not unlikely that Wall Street will continue
extremely bullish.
Receipts OF money last week from the interior
We're heavier than in any single week ever re-
ported in the history of Wall Street. and accord
ing 10 the advices received from out of town
points the chances are that in the rest Of the
month and I'm February the volume OF money
shipped To New-York Will he far heavier than
recently predicted. Shipments OF money from
NewYork in the fall 10 the interior We're I'M
usually heavy. and il is therefore reasonable TO
assume that the return flow Will be equally as
large The increase in the reserves Of the banks
through the gain I'm cash holdings from out of
town points and on Sub-Treasury operations
naturally has brought about a decline I'm call
money rates and an easier tendency in the time
department of the market, but II is not con-
sidered probable that the demand for funds will
lessen or that rates will decline TO a / per cent
basis The downward movement in money has
eKerted an important influence in the sterling
exchange market IN which there has been an
advance in the last six days Of 90 points IT is
thought probable that gold exports will be made
from this country in the course of the next few
weeks unless there should be some wholly I'M
expected change In conditions affecting the in
ternational monetary situation Gold could have
been exported last week If the Bank of France
had been willing TO pay interest on the metal in
transit but apparently there was no actual ne
cessity Of shipments from this side as far as
Paris was concerned. and as a consequence the
Bank Of France made special inducement to
secure the metal AS Paris has agreed to finance
short time loan for Russia there may be a
withdrawal of French capital from the New
York market just as soon foreign loans made
for the account of this country mature. There
Is large outstanding short interest in the for
eign exchange market. and il is probable that
the recent speculation in exchange has been
heavier than at any preceding time on record