New-York tribune., 1907-08-04
Closing prices of active bonds dealt in. with
STOCK MARKET OPERATIONS.

Transactions in the two hours of trading on
the Stock Exchange were extremely hsht IN
volume amounting to only 1880 shares, OF
which the greater part was supplied by Union
Pacific United States Steel Reading. Souther1l
Pacific and Amalganated Copper Prices InoVeu
In an irregular manner. with the fnal nsureS
at unimportant changes as compared Win the
closing figures of the preceding day, net losses
rreiominatfng Trading as a rule originated on
the floor, operations for commission house ac-
count being confined TO insignificant totals ana
representing nothing beyond the attempts Oh
experienced operators to catch the price changes
for quick profits, IN which. however, they were
not especially successful, fluctuations were
too narrow TO admit of money making, even
Union Pacific, which is the current market
leader, furnishing no opportunity for prontaple
transactions. The chief feature OF the market
was its inactivity The light business reporteu
was supplied by few shares, many Issues pc
ing absolutely dead, with nothing but olu anu
asked price quoted, and this inactivity was NO.
affected in the least by the appearance OF llio
bank statement which showed a further re-
duction in the reserve above legal requirements
Douhtless traders hesttated 10 make large COM
r1litments pending the announcement OF 'lo
Standard OIL fine by Judge Landls, anu II IS
more than probable that If the decision o1 nc
court had been made public before the close %
business there would have been q Tush 10 sen
stoclzs in every departrnent Of the market, While
II is quite likely that IN to-morTo"s 8 Iaeiiis
the influence upon sentiment OF tHe 0'oi1u"'
Ofl's punishment Will be reflected IN lower quo-
tations throughout the list wan street M's'
s+aqgered bv the amount OF the fine imposed,
and # was fortunate the exchange had closed
before the announcement was maze n GAIN
consideration Of the subject over to-uaS 4,".
induce a more cheerful view or II, pot
# will take time, nevertheless, loF tiie ST. So
IN accustom itself to the fact that colpoi@
tione No longer can disobey the law wlthout
suffering penalty for the crime coiiliLA4. -
The fine IS equivalent TO nearly Il year
dend on STANDARD Oil stock. and IL sus ~
the Supreme Court the company dououess "--'
suspend for several quarters diVloehd pay iIo4 %
panIy s+ate-,ent figures showed an increase ia
loans of So 7S7. 900. decrease IN casn a. u ~.
100 and an increase in oeposits Oh 81 -,
The decrease In cash was less than liiuica'eu 49,
Fridays estimates Of the known NOV
money while the expansion in loans was uiieA
1ao+a5 As result Of all changes reserve ue-
creased S1,7S5. .475 to S7.4l3.2ou as ae@ilse
S14 100 675 IN the same Week d ''1
end SO 163 525 IN 1905. The reserve Is uli-
,,e1,a,Iv low for this period Of the year. ana ss
.bere ia little chance OF an increase IA
ho1dtnos In the near future and no great P'op
ability of q material reduction III loans 'i'o ~
look strongly favors higher rates iof ~ i"ols
Tho demand for money from the 1nteItoi
Iz,lll develop and the chances arc II wiz "
bea1v hut. Of course. If signs OF acute 81 -,
,-- dayelon the Secretary OF the treasury " IA
Serosit government funds with oeposltaiS
srt+ntions The federal vaults are Wen SUP ,
with money taken from the chaiii049 Va
and now that the Secretary has the power " ue
Toeft in banks daily receipts from al so.i ,s Ies
there ought to be no fear over the IutuIe - IN
,nonev market though rates VIII Dc strung -
.ioi-eS r-nos,,-,'s monthly statement OF the
of money in circulation large decrease
&C. shown in the figures, but the actual amour.
~ cIrcnation increased the apparent loss oeli,s
dne to the deduction from the aLnounI o. .r,a
a. tra country Of the S133VOOooO 10 inoho @ uto
n4atar1,ent correspond with the figures OF tne
S,noo+nr or the Mint who after careful ana
Sahorious investigation has found that I, 1orig sn
elements have shown that amount OF gou ~
eTcess of the actual sum Of money IN cI'ri,. d,r
ton. Sohap', mp ,rcreased s168. .9741a2.