New-York tribune., 1906-08-14
CLOSING prices Of active bonds dealt in. with
STOCK MARKET OPERATIONS.

With the exception OF Brooklyn Rapid Transit
shares the general market was strong in the
greater part of the day. with a good class OF
buying in the Hartman issues. the Steel stocks
New York Central, Pennsylvania, Northwest ana
some of the cheaper priced securities. Brooklyn
Rapid Transit's weakness was in line with the
decision of the 1O-cent fare case and with the
tactics employed by the company on Sunday in
its efforts to enforce a 1O-cent rate TO Coney
Island, and further heaviness in the stock would
cause no surprise in the Street, especially the
company's chances of paying dividend appear
remote, even in the event Of decisions in higher
courts favorable to the road Encouraging
earnings reported by the Wabash. the Inter-
borough, Louisville 6, Nashville and other COM
panies and announcement of the engagement of
100000 gold for import, factors that OFF,
set Brooklyn Rapid Transit's decline influ-
ence on the rest of the list, while the gold i'm
port engagement also Offset a hrmer market for
call loans and suggested the probability OF the
money market receiving considerable assistance
from abroad. In Amalgamated Copper Ameri-
can Smelters. Colorado Fuel ST. Paul, North
west the Interborough- Metropolitan shares
Kansas & Texas and Northern Pacific final gains
amounted to 1 per cent or more, Southern Pa
eifc and Union Pacific showing only fractional
improvement. owing TO realizing sales in the
afternoon. Commission houses not active
factors in the market for the public, the trading
being made up in great part Of the operations Of
the board room element and transactions for the
account Of the big interests which are behind
the current bull movement. Much higher prices
are predicted for securities, and it is thought
that the low priced shares will soon share TO a
greater extent in the upward movement
While many members of the Clearing House
are urH1er the % per cent reserve limit no
In ha cir tba
moment over the monetary situation at this
centre OF course, if speculation in securities de-
velopes a runaway stock market there may be
trouble, but so far the operations for higher
prices have been coulucted in an orderly man
ner, and from present indications transactions
on the Stock Exchange will be held in sufficient
check to obvlate the necessity of wholesale
liquidation OF loans when the demands for funds
for the account Of the crop movement and for
general trade purposes become urgent. 1t is now
believed that imports OF gold will be in large
volume, unless Europe places great obstacles in
the way Of shipments. and in this connection it
is interesting to note that the price Of bar gold in
London was advanced yesterday Id. on the pound
sterling, the movement rejecting the American
demand for the metal and the probable desire OF
Lort3on to switch the inquiry for gold for Ameri-
can account to Paris or Berlin Monetary con-
ditions in Berlin do not suggest the probability
OF shipments OF gold to the United States, but
in the event of quieter conditions in the Russian
Empire Paris doubtless will make no serious OBJ
lection TO exports to New York if the demand
here implies actual necessity for the metal.
While exports Of merchandise from this coun-
try are heavily in excess of imports, and while
the large crops in the United States foreshadow
big shipments Of grain in the next six months,
there is no great credit balance abroad in our
favor, IL any, owing to the enormous borrowings
for American account abroad in the last year
and TO the big offset against trade account sup
piled by the tremendous expenditures of Ameri-
can travellers in Europe Money rates how
ever are higher here than they abroad, and
barring political disturbances in Europe foreign
money doubtless will be glad find employ
ment in the New York market. In the month OF
July exports Of domestic products from the
United States were somewhat lighter than in the
corresponding month year ago, the falling off
amounting in value to more than $50O0000, but
for the seven months ended July 81 total exports
amounted to S45T,375,411. against S399, ,90O629
in the time in the preceding year. In July
the decrease from last year was supplied by u
reduction in the shipments Of cotton. Exports
Of breadstuffs. however, showed large gain.
both as compared with 1905 and 1904. The full
statement of the country's foreign commerce
will be published Tomorrow and the chances are
that il will show large excess of exports over
imports. II is interesting to record the fact that
despite the agitation abroad against American
meats canno3 goods, etc, exports Of provisions
in July showed an increase over the shipments
in the same time last year Of upward 81 .OoO,OO0.
BOSTON STOCKS.
Fer ha