The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-06-07

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tttiine Nv atoeka today 80 iiiriuet erUfl
rofiiou ~ me iifrH uncertain tNi triangular
ma marhs' pursuing = strries ~ hacking
sUd Rlilna cr,irae tho hftying0 ~ stocks Whom
I, ~ iaEr rlsre waa ~ = crrad"r' 0f. ~
snd u was evident alan thai Tho nafto' sta
gradually asauminR creator hroi,i'n lrnr
tivitv still felenHd IN Tho FrtorStn hpuf1sf
Accompanied, howavef. Nv nrmnnas w
pti~a II wss said that srrculati0N IN
Paris WA q little rheokrd Nv the Announce.
msnt that tho ifnprsi'lon NJ M nicotine tai
w tho Frsnch Oovernment wa conteu-
plated. hut throughout Eufor~ the DOM
mating feature In tho financial situation
continued 20 ts the growing ense In money
Discounts In tho open markets abroad
wefe A. u rile lowor. and " apps tfed "a
10 the general impression thR y further
reduction In tho Rank ~ GcrmRny's dis
count rate WIS impending In London thu
Rank ~ England went On occurring without
competition the large supplies ~ nav gold
laid down there, and " WIS admitted thn
the hank would easily SECURE Et0O 600 In
gold due TO arrive in London ncyt week.
Hero In tho fore part of the day, although
there was a resumption ~ the selling 81 Tho
Colorado Fuel and Iron and Pennsylvania
stocks that weakened the market yester-
day afternoon, prices we're strong. on
solida ted Gas stock rose sharply upo the
prevalence Of an idea that tho Federal
courts would grant an injunction restrain
ing the operation Of the m cont gas law
pending the final decision Of the lawsuit in
stituted to determine the constitutionality
81 the law. Statements having a semi
official origin that the Texas Land Trust
was %disposing of such portions OF its large
acreage as it chose TO sell at a relatively
high valuation resulted in an advance OF
over two points in the trust certificates.
There was vigorous buying Of the st. Paul
common shares because Of the general
understanding, that is unquestionably we'll
founded. that the company's plan Of ffnanc-
ing it's Western extension will be so ar
ranged as to prove OF immediate benefit
10 the pockets Of its stockholders. The
American Locomotive and Railway Steel
Springs stocks were strong by re ison Of the
renewed circulation of old stories that closer
relations between both OF thase compan MES
and the General Electric Company were
maturing. All the standard stock in the
market to-day were, in fact, active and
higher.
While 1t may be doubted il much attention
was paid to the circumstance in speculative
circles, the most important development dur
ing business hours was certainly the reduc-
ton that took place in quoted rates for the
use Of time money. Hitherto funds for Use
into next year have been quoted very steadily
from 81 to 5H per cent. To-day rates for
the use of money for these long periods fell
to 5 per cent, bid and 81 per cent. asked;
and it was presumably in consequence of
this that sterling exchange hardened, As
the season advances optimism in banking
circles concerning the money situation
covering the year as a whole is manifestly
increasing. While money is in active use
everywhere. it is yet becoming easier in
financial centres in a way that was quite IN
looked for some months ago. Over one
fourth Of the money sent from this city to
San Francisco has already been returned
here, and the opinion now seems to hold
among those likely to be best informed that
within a month more than half Of the sums
shipped from this city to the Pacific Coast
during the last six weeks will be returned.
All this taken in connection with the brilliant
outlook for the crops forms sufficient reason
for the strength of the stock market.
New York stock Exchange Sales Tune o.