New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-01
unlisted. TEX dividend.
Closing prices Of chief active bonds dealt in
with net changes. follow:
STOCK MARKET OPERATIONS.

Stock market values were strong throughout
the day on a heavy volume of business. the
losses which We're recorded in Tuesdays mar
ket being recovered in most sections of the
list, with the heaviest advances among the
active shares in Amalgamated Copper, Ana
conda. Colorado Fuel. Reading. ST. Paul, Union
Pacific, Norfolk and Western and United
States Steel preferred. The upward movement
was not accompanied by news developments
affecting the general position of the market.
the advance representing a natural recovery
from the oversold condition which developed in
the closing hours OF the preceding day. There
was active covering movement in all shares,
while commission houses were liberal buyers Of
all the first class issues for the account of
substantial operators. There was no especial
selling pressure but the advance people
who were fortunate enough secure stocks
at the low points recorded in the first two days
of the week converted their paper profits into
cash According TO the belief of the more i'm
portant interests there viii soon be a resump-
ton OF aggressive bull operations, but in the
course of the next few days it is thought that
more or less irreguarity Will prevail. especially
In the securities which have fuctuated so widely
in the last few weeks notably adng Read
ings earnings reported Tuesday showed
material falling off In gross and net income
and the poor results obtained by this companv
cite roads owing to the weather which
has caused an important reduction in the anoupt
OF coal sold The coal shares may be adversely
al1ected by reports OF earnings while they
also may be influenced by the position taken
ny the president or the United Mine Workers
OF America who announced yesterday that there
must be an Increase in wages if a new agree
iHeht ls TO De made between the owners and
the miners.
rl<afN
It's rally IN most of the important issues with
especial strength in Amagamated Connar
which ended at an advance of over i points from
the low price recorded in Tuesdays market
colorado Fuel and Iron also made a net gain
OF over points, while throughout the active
hst net gains as rule were above / per cent
The practical confirmation of the Heinze- Anal
gamated settlement naturally served TO create
an active demand for Amalgamated and Ana
conda. the latter stock as it Is quoted on the
Stock Exchange showing a gain of A. which
is equivalent the stocks par value of % TO
an advance of over g points Wall Street has
recovered from its scare the proposed Penn
sylvania control investigation, the efforts TO
enact rate legislation and the situation in AL
bahy regarding an investigation of the Banking
Department. There is nothing in these three
factors which warrants uneasiness in speculative
or investment circles. and even in the event Of
against the Pennsylvania Railroad under the
Antitrust law there would be absolutely no
good excuse for sales OF railroad securities The
value Of railway investments will in no way be
reduced by government investigation of the
stock ownership by the Pennsylvania Railroad
of other companies any than they We're
effected by the outcome of the Northern Securt-
ties
Money rates at this centre continue 10 rule
at an easy level but quotations may possibly
stiffen slightly in the course Of few weeks
owing to the increasing activity on the part
of mercantile borrowers and the preparations
which the industrial world will soon be making
for the spring trade. The accumulation of funds
affect the market for loans, but as February In
terest and dividend payments are small this is
not surprising. Money continues TO move toward
this from the interior. but the receipts 50
far this week have not been large as In the
same time In the two preceding weeks while
the local banks have lost consldera bic amount
of money to the Sub-Treasury, the excass op
payments by the banks amounting to upward Of
S3.OO0.OOo. While rates for foreign EXCHANGE
continue 10 rule in the neighborhood Of the
gold exporting point the Bank of Franco ,s
making no special inducement to attract the
precious metal from this side OF the ocean and
II is not considered likely that the reouirer,ente
OF the French Bank viii call for shipnents