New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-20
Closing prices of chief active bonds dealt in,
with net changes, follow:
STOCK MARKET OPERATIONS.

IN 2 heavy volume of business stock market
values advanced in the greater part of the day,
many issues reaching new high record prices,
while throughout the list of active securities de-
cided Improvement was recorded Reading and
Union Pacific on enormous dealings reached
the best figures ever recorded for these shares,
while Anaconda at a maximum advance of B
per cent made UP a good part of the loss which
it recently suffered from its high price of the
year The interests that are chiefly identified
with the bull speculation in the shares apparent
IL are in q position inf1ict serious injury on
the operators who have the courage TO sell the
stock short AS Its par value is $50, while on
the stock Exchange it is quoted on the percent
age basis the net gain of 2s12 per cent for tbs
day was equivalent to actual increase Of
points on the actual par value Of the Issue.
Operators short of the market were active fac
tors in the advance while the demand from
commission houses and from the people identi
fed with the Hartman stocks was heavy enough
to bring about material gains, especially In low
priced shares in which equities are rapidly In
creasing in value. Reading enjoyed maximum
gain Of more than points. closing at net ad-
vance of SIS points Among the low priced
issues there was good demand for Colorado
and Southern. the Chicago Great Western shares
and the Wabash issues. While there were some
heavy realizing sales in the last hour there were
no important recessions in values. last quota
tons being near the best of the day Net gains
of per cent and more were common. the chief
Improvement being recorded by the Copper
shares St. Paul Great Northern preferred,
Louisville and Nashville, NeN-York Central,
Northern Pacific Pacific Coast Reading and
| United States Steel preferred The bond market
was again active on an advancing movement Of
values In both the bond and share department
| transactions were distributed over an unusually
large number Of issues.
According to the known movement OF money
| in the week the New-York banks have gained
| nearly SO O0o. GEO, the increase being made UP
of large receipts from the interior and big gain
from the Sub-Treasury. The movement of
money from this centre has been large enough
| 10 suggest material increase in bank reserves
in to-day's statement of the Clearing House in
stitutions. despite the fact that the system of
| compiling bank statements often fails TO reflect
actual conditions. According &c reports re
ceived from interior centres there viii be no fall
ing of in the shipments of currency to New
| York for a number of weeks 10 come and il is
therefore probable that the supply Of funds ar
this centre wifi be great enough TO bring about
| even lower rates for money. although the actual
| demand for accommodation may be sufficiently
| large to maintain loan quotations at present
! figures Call money in The neighborhood of
| per cent and time funds on straight 5 per cent
| level for all periods produce hardship for
! borrowers especially borrowers who are using
the proceeds Of their loans in the stock market
where profits in the last few months have been
| enormous The prospects for shipments OF gold
! in the immediate future not promising the
moment owing to the great ease in the foreign
money markets and the advance in the rate of
exchange az Paris on London. There is no i'm
| mediate necessity for increase in the supply
| OF gold al Paris Indication of which is pre-
| senfed by the actual lending Of Paris funds In
| London.
/ The days advance in stocks was not based on
/ news developments affecting the shares dealt in
| on the Stock Exchange. The upward movement
which included about every issue listed was due
TO heavy buying by the leading speculative in
| terests and active inquiry from the strongest