New-York tribune., 1906-04-13
: closLng prices Of active honds deaIt in. wIth
STOCK MARKET OPERATIONS.

On a relatively light volume Of business stock
market values moved within narrow limits in
the greater number of isues, last prices show
ing unimportant changes as compared with the
final figures of the preceding day, net loss
predominating in the active shares. Reading
and Consolidated Gas were the only features,
and the movements in both issues served for
time 10 exert moderate influence OH other Sc
curities the decline in Consolidated Gas tending
for brief period to induce selling elsewhere.
while the early strength in Reading attracted
moderate buying orders in other parts Of the
list. Hooking Valley a light volume of bust
ness enjoyed marked improvement. but the gain
was not accompanied by news developments
affecting the property. The chief part of the
days operations was supplied by the board room
element commission houses not being important
factors, while the leading Wall Street interests
apparently were not disposed to take an active
share in the DAYS transactions, as far as buy
ing was concerned. The greater part of the
day.s business was supplied by the copper
shares Brooklyn Rapid Transit Consolidated
Gas PENNSYLVANIA. Reading. Union Pacific and
the steel issues. The enthusiasm which vas
exhibited in Wednesdays market was chilled TO
some extent yesterday by q stronger tendency
in foreign exchange and by continued firmneSs
in the money market, call loans ruling in the
neighborhood of per cent, with maximum
quotation of 10 per cent further sharp ad-
vance was made by Pacific Coast on small
volume of trading, and according to Street gos-
sin there was an active demand for the stock,
but the supply extremely limited. IT is un-
derstood that both the Hill and the Hartman
interests have bios in the market for the issues
above the current market quotation, and it is
reported that another powerful interest is
anxious to secure the property.
While the backbone Of the money squeeze has
been broken it is not considered probable that
rates for call funds will rule at an easy level in
the immediate future. i is quite likely that
there will soon be return to the range which
prevailed 4 few weeks ago but the activity in
trade throughout the country and the urgent
demand for funds in Wall Street do not encour-
age the expectation which is held in some quar-
ters that low quotations for loans soon VIII de-
veIop Fortunately. the banks have now begun
to gain cash from the Sub-Treasury, while cur
rency is being received from the interior for the
account of banking interests who are anxious
to take advantage Of the high price of none"
at this centre. and If the requirements of the
situation again become urgent further large en-
gagen1ents of gold for shipment to this country
NAV be made in Europe. The decline IL money
rates from the record figures established IN tle
early part of the week has been eHe'HNe III
strengthening the foreign exchange mdfNe'' ana
.he chances therefore are that no more gold
will he engaged this week, though reports yes
terdav suggested that negotiations were under
,,-a,. tor additional shipments from London. A
5rr,er tendency is noted in the domestic eX-
.,,o,,,o market at interior cities New York,
or.i,e 10 the maturing of mercantile obligations
I,,e merchants in this city If this movement in
exchange At interior points continue, currency
ought 10 come 10 the East in volume
Leading interests TN the Wall Street COM
n,,,uitv arc rot alarmed over The position Of the
money market. especially as Wednesdays de-
,-elopments proved that this centre always can
secure money when the actual requirements or
the market demand assistance from other points.
In the period of extreme rates for funds there
Was no important selling on the Stock Exchange.
and II Is interesting To record the fact that in
the last two weeks the leading active railway
stocks have fuctuated on an average within
points. with Yesterdays average at nearly tho
same basis reported Thursday March %.
issues. which hare shown great resistance to
professional efforts TO bring about lower figures
Notwithstanding the fact that quotations for tine
greater number Of securities arc at level which
measures their present intrinsic worth as n,
Vzsuner;s the belief that values will go higher
Is gaining He~ adherents every day and as there
Is BIZ short interest in the market and as
stocks are strong in hands there is good reason
10 lndorFe TIE theory that with q return of
! ror"oi monetary conditions prices throughout
] the list VIII move TO materially HIGHER level.