New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-09

Closing prices of chief active bonds dealt IN
With NET changes. follow:
STOCK MARKET OPERATIONS.

There was further contraction in the volume
of business i'm most stocks In yesterdays mar
ket while the movement OF values continued TO
show the irreguarity which generally accom-
panies a hesitating and dull speculation Al
though strength was shown in the early
part Of the day. the greater number of securt-
ties presented declines at the close the chief
exception TO the weakness in the afternoon being
Reading. which enjoyed a maximum advance
of ia ending at net gain of the same size,
Thes large speculative interests we're not active
factors in the days business either side OF
the market. large proportion of the transac-
tions being supplied by the boardrOom element,
with the heaviest dealings in Amalgamated
Copper. Colorado Fuel Reading, Union Pacific,
United States Steel. Northern Pacific and Penn
syIvania The quieter tendency which the mar
ket has developed is not at all disappointing to
the leading financial interests, and continual
ton Of the present situation for several weeks
to come would be welcomed by many of the
chief men In the Street. especially at the
moment there a number of uncertain factors
which contain possibilities that might bring
about disturbance in Wall Street II there should
be this time a big bull boom on the Stock
Exchange. An effort was made in the late deal
ings to cause general advance under the lead
of Reading but there little response, al
though prices in most cases closed above the
low points of the day. Canadian Pacific was In
fair demand and ended at net gain OF over
point, while Distillers Securities also moved to
a higher range.
While there is material change in call
money rates at this centre the price for time
funds has become frmer. owing to the Increased
demand for money and the loss which the local
banks suffering in cash holdings their
transactions with the government. So far I'm the
current week there has been a loss Sub
TrEa OF
the indications are that this weeks bank state
ment will show a considerable reduction in the
amount of money held by the Clearing House
institutions. 1t is likely, however, that there
will be an immediate advance In call money
rates. although a little later in the season
quotations for call loans doubtless will move to
a higher range under the influence of scarcity
of funds at this centre at time when the in
terror will be drawing New-York for accom-
mediation. After the usual spring requirements
of the interior have been satisfied the higher
rates for time money doubtless will be effective
in attracting a good sized movement of money
10 New York. Fortunately the monetary situa-
ton abroad is improving. and as consequence
there is inquiry for gold for European &C
count from this side OF the ocean. and just as
long rates for money in this country continue
10 rule at a higher level than is quoted in the
foreign financial capitals there will not be an
important outward movement of the precious
metal from the port of New-York.
In addition to the influence of the loss by the
banks to the government on the time money
market there is another factor which at the
moment plays an important part in keeping time
funds at higher figures than recently reported
1t is the shifting to home institutions OF mat,Ir-
Ing loans made by foreign bankers. While some
OF the foreign loans have been renewed a large
number of these obligations have been maid off
and new loans secured in this market a rehec
ton OF which is presented in the large expansion
IN the loan account of the associated banks of
TINS city The Bank of England made no change
IN It's minimum rate of discount at its u,aelI,,
meeting to-day, but open market rates i'm Lon
uoh were sughtly higher, while i'm Paris ouota
lions We're lower. Paris exchange on Tnndop
ana money market conditions I'm NeN,-yorlr Do
Tot encourage the expectation of expOrts Of goId
Dut conditions which eXiSI TODAY NAV cbeDa,
Tomorrow, and II therefore is not safa 70 %
that shipments of the metal will NOT no 80
in the course OF the next few weeks The $500
decline In time money rates naturalIv tndncaS
foreign bankers to insist on the Davnant -
maturing loans for the account of this conr,rO. VI
but the stronger tendency i'm money ana ~
more confident feeling in financial centrag
ABROAD may result in the placing of more foreien
1uhos IN this market. Domestic exchange rats
are gradually moving toward the point which
VIII can Tor larger shipments OF currency from,
NsW-tork TO the South and West