New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-11
Closing prices OF chief active oonos oea4Salh'
with net changes, follow:
STOCK MARKET OPERATIONS.

With the exception of the price movements IN
a few stocks quotations in the general list de-
clined In the two hours of trading on a MOD
eratelv active volume OF selling. Lower values
for American stocks IN London were effective In
helping the early decline in New-1ork. while
the expectation OF an unfavorable showing IN
the weekly bank statement served to create
bearish sentiment among traders. although II
failed to attract important liquidation Changes
In bank holdings IN the week resulted In a re-
duction IN the reserve above legal requirements
Of So, 1S4O $50. which brought the total reserve
TO S., 943,575, compared with $11.OS6,925 In the
same week year ago. and 9.22o in 1904.
Loans experienced a further expansion, despite
the liquidation which took place In stocks In
the week. the increase doubtless being due TO
the shifting OF foreign loans TO the loyal insttu-
tons more than to any other factor. The de-
crease In cash was larger than Fridays est-
mate amounting to 1921. 100. The copper
shares particularly Anaconda, were strong feat
ures in the greater part OF the short session,
the movement being based on the belief that
negotiations for the settlement or the dinerences
between the various copper interests in Mon
tana are reaching satisfactory conclusion,
and also or the new finds OF copper ore IN the
Anaconda mine It is possible for the copper
shares IN move In a direction contrary to that
or +ha general market and Wall Street ap-
nears TO believe that Anaconda will proceed
toward a. higher level. irrespective or the course
OF speculation IN other securities. Profit taxing
sales were responsible for a decline In Northern
Pacific OF ia points, while similar selling In
great part accounted for the loss IN Reading
Traders as a rule were bearish az the close
Renort, received by the mercantile agencies
IN the last week showed favorable conditions in
most lines of trade throughout the country and
reflected the belief on the part OF merchants
and manufacturers of further expansion IN all
departments In the course OF the next rev
months. An Indication of the enormous business
that is now being transacted IN the country is
presented IN the increase IN bank cleaTtIgs.
which for the last week amounted to $242. 1885,
O3s This gain was equivalent TO per cent,
and for the month of January there was a
rain of nearly SO per cent, these figures COW
airing all the clearing houses OF the country.
Railroad earnings also present convincing
proof of the big volume OF trade roads re-
porting for the last week in January. Tor in
stance figures OF which were received last week.
showing a gain IN gross OF over % per cent,
making a gain for the month OF nearly Is per
cent OF course, the open winter weather has
been a favorable factor in swelling traffic re-
ceipts and It has also been an important factor
IN keeping a larger amount Of money IN active
circulation tnHO IS ecHcAeiAy usual 81 sA4AS ~
Rod Of the year.
Ar present the cash holdings Of all the financial
institutions in New-York City show a decrease
of over $40 100000 as compared with this time
,n 1o05 the decrease being due to the urgent
demand for funds at interior points for the
necessities of trade. The movement OF money
from the interior to this centre Is falling OFF
ranidIv while the shipments OF funds are IN
creasing with the probability OF a heavy move
,rsnt of currency TO the interior this spring,
ond with the possibility OF gold exports. it
naturally may be assumed that rates for money
viii soon rule at a higher level. although IT
is not thought likely that there will be real dis
turbance in the market, such as was witnessed
in the closing months OF last year. Foreign ex-
change rates are still IN tho neighborhood or the
gold exporting point. and II there were an act
nal need for shipments from this side TO Europe
It would take only a slight inducement for the
Rank of France to bring over the precious metal
The Bank of France soon will be in a position
to increase its gold supply through an extension
OF its note circulation limit, but IL does not
appear probable that the bank will make
big increase IN its amount of notes at once. I'M
less the money actually should be needed. mas
much as the emission OF these notes would be
accompanied by government tax on them.