New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-14
unlisted.
Closing prices of chief active bonds dealt in
STOCK MARKET OPERATIONS.
changes. follow:

After exhibiting considerable weakness in the
early trading stock market values developed a
firm tone in the afternoon. closing in the greater
number Of shares at net gains, as compared
with the final figures of the preceding day. The
upward movement, however, not accom-
panied by an increase in the volume Of dealings,
advances representing covering of shorts rather
than an active outside demand for securities.
With the exception of few issues trading was
confined within narrow limits. the chief trans
actions being supplied by Brooklyn Rapid Tran
sit Central Leather. Consolidated Gas, Colorado
Fuel & Iron Reading. Southern Railway. Union
Pacific and Chicago Union Traction shares In
the last named issues a severe decline took place
in the morning, and afternoon dealings showed
little improvement. selling, Of course being based
on the Supreme Court decision. which was In
favor of the city of Chicago. as against the
traction companies. Activity in Southern Rail-
Uav common attracted considerable attention,
owing to the fact that this stock Is popularity
associated with the Morgan interests, the as
sumption being that the large banking house
and its following were buying the security on
the basis of the roads improved earnings. and
tie possibility Of a much higher price FOR the
common shares. Strength in the last two hours
of business was helped by the activity In the
so-called Morgan issue, but there was no I'M
portant buying for the account OF the ordinary
commission houses In the junior Vanderbilt
shares pronounced strength WAS reported. and
New-York Central moved In sympathy rising
nearly points. At the close advances OF per
cent and more were common throughout tne
active list, the only important losses being re-
corded by the Chicago Union Traction shares
Consolidated Gas and Metropolitan. Money was
q trihe easier, while exchange was strong.
While engagements OF gold have been made In
London for shipment to New-York. there is no
a., +ba ODAration at the present rate or eX-
change and the price of bar gold in the British
oan,taI This fact however apparently is OF
little moment to the New-Yori financial insti-
tu+tons which are bidding for the precious metal
inasmuch as there is an actual need Tor the I'M
nortation of gold, owing TO the low poslIloh Oh
.ho local hank reserves and to the fact that at
rresent there is other source OF re4leI III
sight Firm rates for money in New-fork fah
80 a+tract funds from out of town points for the
oood reason that quotations for loans at other
centres are as high as they are in the metropo-
lie and In some cases higher. and instead of
currency moving to this centre money is leaving
New-York in considerable volume TO the inte-
r,or The demand for funds at interior points
on New-York will continue for a number or
weeks to come, while at the same time 1t Is
nrobable the Clearing House concerns VIII lose
further amounts of money on their operations
with the Sub-Treasury. Government receipts
running IN excess OF government payments
while the redemption OF national bank notes is
still in progress and banks In other cities are
drawing on their New-York correspondents in
order to replenish their per cent fund. For
tunately there Is a large supply of gold at for
eien financial centres, and while considerable OPP
position doubtless will develop among European
bankers to large shipments TO this country. II is
likely that New-York Will be able to draw
enough gold from abroad to prevent monetary
stringency in this country.
Money market conditions doubtless will
tinue for some time to come to check activity on
the part of stock market traders. and 1T is not
unlikely that in the absence OF aggressive buying
of securities prices will exhibit saggtng ten
dency though no further extensive liquidation is
looked for. OF course if there should be some
untoward development affecting the country's
industrial activities liquidation large scale
would result, but at present there is absolutely
nothing in the general situation which suggests
an adverse change in the OF business
The enormous volume of business which is now
being transacted is reflected in heavy gains In
railroad earnings. and 1t is Interesting to note
that in the first week of March earnings SC far
reported show a total gain for seventeen COM
panies of $3.50 Dos comparison being made with
the same period a year ago. This record in
cludes the large receipts of the Canadian Pacific
which in the last twelve months has made one
Of the most striking exhibits OF any company in
the world Improvement in railroad traffic Is
not confined to any one section of the country
roads in all parts of the United States showing
marked gains ana according TO advices received
from traffic managers. there is no indication Of a
setback for many months to come. Reports now
coming In from the winter wheat territory AT.