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

Transactions in yesterdays stock market were
active in volume on movement of values that
generally tended IN the direction OF higher
quotations. Opening prices were strong, and
there were few important reactions throughout
the five hours of trading. final quotations. show
ing net gains. amounting In many cases TO
substantial figures. Reading. the so-called
grangers. American SrneeSns. Colorado Fuel and
National Lead were among the days strongest
features. Reading in particular enjoying marked
Improvement. Great Northern preferred, on a
smaller volume OF business than in the Issues
just named moved 70 9 much higher price, the
advance being accompanied by The usual re-
ports OF a melon outing for the Great Northern
stockholders. The Steel stocks were in gpcd de-
mand, while the Industrial shares IN general
were active. strong features In the last hour a
number Of the active shares sold off from the
best prices, notably Amelgamated Copper. Ana
conda and Metropolitan, under the influence Of
heavy realizing sales. Commission houses vera
fair buyers throughout the day, especially in
Union Pacific Reading and United States Steel
common. on a small volume Of business Min
ueapol1s, St Paul and Sault Ste. Marie adj
vanced Az points. while in a number of issues
there was marked Improvement on light deal
ings- Compared with recent days. tha total Of
business in the bond department was not heavy
has been for the account of people who have not
been supplied with large financial resources and
by pools which have not been representative Of
the larger financial interests. Tho most inlpor-
tant banking houses report that the leading cap
italists Of the country have been active buyers
on all declines and that stocks are now in strong
hands, especially such issues as Union Pacific
St Paul Canadian Pacific and some Of the lower
priced issues 1t is quite generally believed
that there will he further liquidation before an
active resumption Of the upward movement
takes place. but II is not thought likely that
prices Will go materially lower unless there
should be some development of 4. most distress
ing character. The accumulation OF Union Pa
ciho by the leading houses in the Street con-
tinues This stock. it is generally understood
VIII be moved TO much higher level under the
influence Of legitimate buying While II ia also
thought mat st Paul and Canadian Pacific viii
enjoy substantial improvement The increase j.,
Ihe Faiue or the assets of the railroads in the
Northwest is becoming more generally recos-
iIzeo. and the fact that Union Pacific is now
aus :" present assets In the shape of securities
IN other companies 10 the enormous ,-a,,,o,t,.,
Of upward of 1924 OOOOOo natnrau,- ;r--,11
great confidence in the stocks OF that coD,nar,-
Canadian Pacifc's land assets which -
enormous holdings of unoccupied land in a.
northwest and which arc steadily in,rro,t,,.-
IN ,-oIt,.
!" value VIII add in the course Of time -,
4'Il'ioIS OF dollars to the company's treasury
% lar IN the current week the local b.,1,s
60 IoS' on their operations with tho s,h-
treasury over S3,5OoO00, While tho rocai-+. -.
money from the interior have nor haar, os,.,o,,-.
heaVY- Nevertheless II Is though, tba+ -
terror movement will he large ero,,gb ., 80.
'ne payments to Che government Will :.
HeVea tnat the liquidation which H.
pace IN stocks viii he reflected il, , -
III loahs large enough "a brir, a..
''eaSe N me reserve above legal rao,,fror,.,.u
IL saturday statement of Tho C1eart,- L.
INSTITUTIONS Money rates do nor -
manner which suggests any irnpor.. -,
OF IN bank holdings but II is No, -,
'iia' Nl'hln the course Of the next fs,, -,
'hete VIII he = frmer tendency 81, +L
market Rates for funds az this CONT. ~
hlgher man those prevailing in ,ba -.
'apl'aIF' ana II Is therefore considered nrobai7,-
'ha' the large foreign loans made for
count OF American borrowers. and u-bi,L
now maturing. viii he renewed 7, r. -
'oGal money rates ought not 10 NOV. H..
prevailing quotations. while there 80.
10 DC further postponement of rho -
soi" exporting movement. The faot -. -
DNiIA OF france will be unable 10 nprcb.. =,
u,iIn 'Hr french Parliament extends tba 49,
u us circulation is an important ineuaroa =.
preventing GOLD exports from New-yo-, - .
i also an influence in inducing the ra,en.,
maturing Foreign loans Foreign s,oh. = vi
@e' 0o"uluons are quiet at the mon,sn. ~,