New-York tribune., 1906-04-03

On a heavy volume of business stock market
values moved toward higher prices throughout
the day, closing quotations being at or the
best figures The more important speculative
interests were active factors in the upward
movement and their presence in the market not
only induced covering of shorts. but also at
tracted a larger buying demand for rutHc ac-
count than had been recorded any day In
many weeks. Notwithstanding q furry in call
money rates. which carried the quotation to 10
per cent sentiment remained extremely bullish
and predictions were freely made that further
improvement would he recorded in to-day's
market Wall Street paid little attention the
coal strike situation, traders believing that
market values already had fully measured the
adverse influence of labor disturbance. while
they also believed that the anthracite miners
an6 operators would reach q basis for salts
factory settlement at the joint conference which
will be held in this city to-day. Opening quota
tions were we'll above the final figures in Sat
urday's market and in the first few hours of
trading gains of from TO per cent were com
mon with the chief exhibition of strength in
Reading. the Copper shares. Union Pacific the
called Hill stocks. Baltimore & Ohio St Paul
and the United States Steel issues The only
important feature of weakness was supplied by
Consolidated Gas, which sold at new low
record for the year at 1895. comparing with a
high price in January of Isl and a price az this
| time a year ago of PA. As the selling in this
| stock is due TO considerations which have m
| bearing the general market it's decline Is
without influence in other parts of the list
Selling undoubtedly represents In addition To
short sales liquidation by holders who are con-
vinced that the dividend on the stock will he
| reduced. owing TO the prospective reduction in
the price of gas. Total dealings were more tha,
] one million shares
| Bank statement figures pubIiSbe5
not encourage the hope that rates for money
| will decline to an easy level in the immediate
| future The demand for accommodation through
| out the country is too active to admit OF low
quotations for loans, especially in the next few
| weeks. owing to the spring inquiry. in the in
| terror incident to the requirements of the aeri
| cultural community and OF mercantile houses
| The movement of currency from New York IN
| ont of town points is now heavy in volume vhiIa
! payments by the local banks to the Sub-Treas-
| ury continue largely in excess of payments bv
| the government to the New York Clearing House
| institutions. Money market conditions abroad
| have improved in the last week and now that a
satisfactory settlement has been reached between
! France and Germany over the Moroccan ques-
| tion il is likely that foreign bankers will be
| more willing TO put out their funds and if the
| necessities of the American market become ur-
| gent gold imports from Europe doubtless will not
| ne seriously oD1eCted 10 in the foreign financial
| centres Were it not for the big Russian loan
which is about To be financed in great part by
| Paris. gold already undoubtedly would be COM
| ing this way in volume
| Expectation of no actual stringency in money
is exerting favorable influence on stock ma rket
values, and according TO the opinion of commits
! sion house brokers quotations for securities will
! move to higher level in the current month
! Stocks as a rule are i'm strong hands. and the
| holders naturally anxious to create an active
| outside demand in order TO distribute their nos
sessions at figures which will carry substantial
! profits. While the public far has shown no
| great desire to enter the market there are indi-
cations that the speculative appetite for stocks
| is improving and that with "A further material
advance In values there will he large demand
| for all classes OF securities from people who
| generally buy stocks when they are dear and
! who sell them when they are cheap The public
| rule manages to get into the market al the
wrong time. but, of course, this is lust what the
larger spectators desire. and i'm the present case
there is no reason 10 suppose that there will he
! any change in this respect There is a fair
Investment demand for first class bonds includ-
! Ing purchases by foreign buyers. hut in the high
1 Grade shares there are few u4trcba-as a.,