New-York tribune., 1906-10-13
enlisted. TEX dividend
Closing prices Of active bonds dealt in. with
net changes, follow :
STOCK MARKET OPERATIONS.

Transactions in yesterdays stock market were
active in many Of the prominent issues, but IN
the general list dealings light, while price
changes were unirnportant. Opening quotations
in the greater number of issues showed small
advances as compared with the closing OF the
preceding day, and in the first fifteen minutes
of trading United States Steel common made a
new high record, selling at 5Oh. Buying OF
this stock in the last few days has been for the
account of prominent firms, who evidently are
acting for interests who are well Informed re-
garding the position of the United States Steel
CORPORATION and Who are firm believers in the
continuance Of present favorable conditions in
the iron and steel trade in this country. The
advance Of Steel common has been helped, of
course, by the ore deal, but even without the
closing of this tremendous transaction the stock
doubtless would have advanced on the strength
# the metal market. Strength in iron and steel
IS accompanied by record breaking prices for
copper. and in consequence an excellent demand
has developed for copper securities, including
issues which are dealt in on the curb. The fact
however, that Amalgamated Copper already has
enjoyed a considerable advance induces heavy
profit taking sales. and the failure of the issue
in the last two days TO make an important gain
in it's market quotation may he ascrlbed to re-
alizng operations. Reading again active
and strong until the late dealings. while Union
Pacific was heavy under the influence of large
selling orders, closing At net loss of q. In the
last hour the general tendency of prices in
the direction of lower quotations. but the final
losses in the active list not important,
while in a number of shares. including American
Smelling Baltimore &; Ohio st. Paul. Consoli-
dated Gas National Biscuit and Reading, net
gains were recorded.
Through the imports Of gold and the deposit of
IN the money market have been improved to an
extent which has brought about an easier situa-
ton in the loan market and has eliminated the
necessity for further assistance from Europe
With gold engagements abroad Of more than
$4,000 900 and Treasury deposits Of SOC 900. 600,
the local banking community should be well
satisfied, and the chances are that no further
efforts will be made to secure help from the out
side indeed, the prospects are more in
favor Of gold exports from the United States
than imports Of the metal from abroad. Money
is tight in London and Berlin, and is growing
frmer in Paris The Bank of England has been
compelled TO advance its discount rate to
usually high level. while the Imperial Bank Of
Germany also has beer~forced to place its rate
on a basis which rejects actual stringeucy In the
German capital. Since the San Francisco
earthquake the United States has withdrawn
upward Of $90OOO.OOO gold from Europe. and
this drain. of course, has exerted a material In
fuenoe upon the supplies Of the foreign banks,
particularly the requirements in London for
Egyptian account and for general mercantile
purposes have been extremely heavy. In the
current week foreign exchange at this centre has
advanced sharply, time money has declined, and
call funds have ruled at a level within the reach
of the ordinary speculator. The improvement In
money market conditions here doubtless viii be
effective in increasing trading on the Stock Ex-
change, and It may lead to the development OF
great activity, though conservative interests
not in favor of heavy operations in stocks pend
Ing the outcome of the November voting.