New-York tribune., 1906-06-01
Closing prices Of active bonds dealt in. with
net changes follow.
STOCK MARKET OPERATIONS.

Transactions in yesterdays stock market were
light in volume on movement of values which
showed great irregularity. with net gains in the
greater number Of issues at the close. Quota
tions however. in the last hours dealings were
well under the best figures. owing TO realizing
sales and bear pressure weakness being most
pronounced in Reading ST. Paul and Pennsyl-
vania In the early operations pronounced
strength was shown in all the leading issues. but
the absence OF public support and the apparent
indispostion OF leading speculative interests 20
take an active part in the trading were respon-
sibe for the change in speculative sentiment. as
far as the trading element was concerned, and as
a consequence the tendency in the afternoon was
in the direction Of lower quotations. In Anal
gamated Copper Colorado Fuel. st. Paul Penn
sylvania- Reading Southern Pacific. Union Pa
cihc and United States Steel common dealings
were moderately heavy, but elsewhere in the So
called active list transactions were confined TO
small totals. 4 sharp advance in Consolidated
Gas was based on decision OF a state court
refusing an application TO compel the company
70 accept an Sy-cenL rate from consumers, pend
ing a ruling regarding the constitutionality Of
the new law which provides for an S0-cent tariff
as affecting consumers Of gas in this city. The
decline in St Paul after an early advance evi-
Uc-ll4A NdS cue 70 SclllfS DN TducIS WHO udO
expected some important announcement favor
ably affecting the property following the meeting
of the directors. Routine business only, accord
ing TO the best information. was discussed.
The action Of the Secretary Of the Treasury
in refusing 10 make further special government
deposits against gold imports will be impor-
tant factor in preventing large movement Of
the precious metal from Europe 10 this country.
unless there should be a material decline in
exchange rates al this centre. substantial ad-
vance in money rates in this country and a
decline in discounts in the foreign markets.
Doubtless the Secretary Of the Treasury is con-
WINGED that the necessity for assisting gold
imports no longer exists and this view OF the
situation is generally held in well informed
banking circles. especially as the urgent require
ments Of the Pacific Coast have been satisfied.
Money is now returning from san Francisco.
and according 10 advices received by the Treas
ury Department. transfers from the Pacific
Coast 10 New York and other Eastern points in
the course Of the next four weeks viii aggregate
large total Secretary Shaw came the
help OF the New York money market at a time
Nhen II was imperative that some action on
Ihe part Of the government should be taken. and
II the requirements of the business interests Of
THIS country should again make necessary gov
eminent aid the Treasury Department undoubt-
VuiE VIII ADOPT measures which VIII prevent
disturbance in financial circles It is not the
junction Of the government 10 supply the dis
count marker with funds for the purposes Of
furtAering activity IN speculation. but the Secre-
tary OF the Treasury has the privilege Of extend
ing assistance when extraordinary emergencies
develop. The engagement OF 100000 gold
for import "Wednesday was made uIder the re-
cent ruling permitting deposits Of gold against
receipts of the metal from abroad, but the ad-
ditional Sj0o0co engaged yesterday was con-
Quoted as an ordinary exchange transaction.
which, however. at the current quotations for
sterling and money in this country and in
Europe. Will not result in much OF a pro6t 10
the importers. In addition TO the transfers of
currency from the Pacific Coast 10 New York
made in the early part OF the week there was
paid 10 local banks yesterday by the Sub
Treasury S3.30oOoo against the deposit of a
ike amount of money the San Francisco
Mint. making the total far received on the
return movement S7455Oo0 Can loans stood
at Der cent on renewals in yesterdays market.
but II was quite generally believed that lower
rates IN this department OF the money market
soon would develop. unless the demand for ac-
Soinmodation in connection with speculative
operations should assume large proportions.
conditions affecting the stock market now
appear TO be moving more in favor OF the op-
orators who are working for higher prices. and
uhe larger stock Exchange interests apparentIy
believe that. barring Unforeseen adverse devel-
opilents IN the world OF business and in the cron
section or NE country. there will be gradual i'm
proVenent IN securities values The fact thar
stocks as rule. are in strong hands naturally
encourages the expectations OF traders who are