New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-10
unlisted. TEX dividend.
Closing prices of chief active bonds dealt in
STOCK MARKET OPERATIONS.

Activity developed in a number of the Leading
issues IN yesterdays stock market on move
ment of values that generally tended in the
direction of higher quotations. Opening figures
as rule were strong. while throughout the five
hours of trading there no indication of I'M
portant weakness in any part of the list, closing
figures being at or about the best level OF the
day. with the heaviest gains in Northern PACING,
Reading, Canadian Pacific st. Paul, Delaware
and Hudson, Great Northern preferred, Louis
Vile and Nashville, New-York Central st. Louis
Southwestern preferred. Union Pacific and
United States Steel common. The upward move
rnent in the so-called Hill stocks accom-
named by reports that developments were pend
ing which would add materially to the value of
the Northern Pacific and Great Northern. and
the fact that some of the men identified with the
Northern Pacific and Great Northern We're in
conference with important banking interests
connected with Union Pacific naturally created
the impression that something Of unusual i'm
portance affecting these companies was being
discussed Northern Pacific enjoyed net gain
Of over points while Great Northern preferred
advanced to ia points. Canadian PACING was
favorably affected by the announcement that
tbe connnanv will issue new stock which will
carry valuable rights to the present etockhold-
ers The inward movement in the representa-
tive railway shares was effective in creating a
more bullish sentiment in commission mousse
circles and as a consequence there was petIer
denoand for the account of public traders in most
parts of the list including the cheaper class oE
securities St Louis Southwestern issues, after
a long period Of inactivity, were in demand ana
in well informed quarters it said that the
stocks especially the preferred, We're being ac-
cumulated by people who are well INFORMED re-
earding the property. There was no change OF
ir,nortance in general financial conditions
Rates in the time money market are one-quar-
ter Of per cent higher than they were a week
ago. but there is no material change in the call
5onar+noent quotations ruling in the neighbor-
hood of 4 ner cent The demand for funds from
stock market houses is not particularly heavy
and as speculation in securities is quieting down
II IS not likely that there will be an active mar
,e+ for funds on speculative account for a
number of weeks TO come. According to the
known movement of money in the present week,
the local banks have lost nearly $4,OOOOOO net.
made up chiefly of large payments by the New
yorl, financial institutions to the government,
the excess of payments to the Sub-Treasury
amounting to over S5OO0O00. 1t is not unlikely
that bank loans in the week have increased,
owing to the shifting of maturing foreign loans
to the local institutions. and it therefore is
thought probable that the reserve above legal
requirements will show a decline compared
with the figures of a week ago.
The firmer tendency in time money has been
due to certain extent TO the unwillngness Of
the banks to pot out much money for long pc
RODS the theory of the lenders being that there
will soon be an active demand for currency
from the interior and that 1t will be safer to
conflne opera atoms at the moment to the call
department of the loan market According
the compilation made by the New-York Clear
ing House the cash holdings of all financial in
situations in this city are S42, sos 600 less than
they were at this time year ago. the falling
off rejecting the active demand for funds
throughout the country. this demand having
been helped by the open winter which has been
the cause of greater activity in general outdoor
work. There was important change yester-
day in rates for foreign exchange, quotations
continuing to rule In the neighborhood of the
gold exporting point. Gold could now be ex-
ported If inducements were offered by the Bank
Of France but as that bank is not in a position
at the moment 10 increase its holdings of gold
IL is not likely that there will be immediate ship
ments of the precious metal from this side Of
the ocean.