New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-05-27

Closing prices of active bonds dealt in, with
STOCK MARKET OPERATIONS.

In the two hours Of business in yesterdays
stock market operations made up in great
part of the transactions Of the board room ele-
ment, commission houses being unimportant fac
tors in the days dealings Opening prices were
under the closing figures of the preceding day,
while in the subsequent trading further losses
were recorded though a rule the declines
did not extend to as much as l per cent. In
Pennsylvania fair support offered, and
consequence this issue among the few that
ended the day at a net advance, its closing price
being 1916 against 1885 in Fridays market.
Reading declined over l point; also Consolidated
Gas, Great Northern and Louisville & Nash
vile, elsewhere in the active list changes being
confined TO fractions. Last prices generally
were trife above the lowest, despite the publ
cation OF a bank statement which showed
further loss in cash and reserve holdings The
decrease in cash was much larger than Fridays
estimates indicated. amounting TO 81 800 400.
As result Of the loss in cash and an expansion
in loans Of SS.66S. 700, there was an increase in
deposits of S5.S9S9OO which was responsible
for a decrease in the reserve above legal re-
quirements Of S3435 1875 Total reserve now
stands at S6,694, $50. compared with S11 49,. 500
at this time year ago and 500. $50. 1926 i'll 1904
In the last two weeks there has been an in
crease in bank loans of more than $23.OO0,O0O.
while in the time there has been a decrease
in reserve Of more than $6OO0,00O. The adj
vance in Pacahc Coast stock was accomplished
] on small volume OF business buying appar-
emily being based the intrinsic merit Of the
stock and on the known efforts of certain large
! railway systems to secure control of the Pacific
Coast Company. In the bond market an adj
vance in the Wabash debenture BIS was due to
the reported plan by which the issue will be re-
tired, the holders receiving in return 20 per
| cent in a new per cent bond and 30 per cent in
preferred and common stock
| In the week just closed there were few actual
unfavorable developments affecting the course of
values on the Stock Exchange, but conflicting
reports regarding the climatic conditions in the
| crop section of the country, the disclosures re-
| sulting from the investigation of corporations
! and the increased desire on the part of railroads
| 10 borrow money were responsible for consider
able weakness in the early part of the week,
which, however, was succeeded by an improved
| tone on Thursday and Friday. A number of
substantial market interests are actively engaged
on the bull side of speculation. and the chances
are that they Will continue to exert an influen-
tial effect on the movement of values in the
course Of the next few days, especially as they
are anxious TO bring about higher quotations in
order to distribute to the public stocks and bonds
which they hold as their share in syndicate par
ticipations of the last six months. Nevertheless,
the outsiders show inclination to take an
active part in the market. and the chances are
that they will not be heavy buyers at the present
!eVel, especially as the is now approach
ing when increased uncertainty will develop over
the outcome Of the years harvests. OF course,
II stock market spectators should be able to
carry prices few points higher there would be
certain response from commission houses The
greater number Of people in this country have
their money well employed in business under
tablnss' and just at present they not in
position to use their funds in the stock market.
business is active in all its branches. and there
Is no indication OF unfavorable change, while
1t is even expected that in the summer months,
when commercial activities generally subside to
some extent. there Will be further expansion in
most department trade.
Stock market traders who expected large
movement OF money from San Francisco last
week were grievously disappointed. 1t is be-
neved. however. that in the course of the next
few weeks certain proportion of the emer-
gency fund recently sent to the Pacific Coast
will be returned to New York, although in some
circles IL is thought that the activity of trade
in the West and the rebuilding of San Francisco
will prevent the shipment Of the entire amount
OF this fund TO the East The fact however
that II VIII be little time before the sur
plus funds held by the Frisco banks can he