New-York tribune., 1907-06-20
sUnlisted
Closing prices of active bonds dealt in. with
or cbaupas follow.
STOCK MARKET OPERATIONS.

In yesterdays dealings the Stock Exchange
there no indication of break in the dull
ness that apparently has settled upon the mar
ket for a long visit. Inactivity even more
pronounced than in the preceding days specua-
ton, and If 1t had not been for the operations
in Amalgamated Copper, Reading and Union
Pacific there practically would have been no
market at all. In the shares named dealings
near the total in all stocks, Reading alone
supplying than one-thrd OF the entire
business price movement that showed a net
gain Of one point at the close. In the general
list quotations moved within narrow limits, but
in the so-called active shares the was firm.
last prices as rule presenting Improvement as
compared with the final figures of the preceding
day There were some big jumps in the express
company stocks. but the movements
small dealings, Adams Express, for instance, ad
vancing five points q transaction OF 100
shares. while United States Express gained 81
on sales Of 800 shares and American Express
points 100 shares. There appears TO be
well defined notion in the Street that other
press companies will follow the example Of the
Adams and cut a melon for the benefit OF the
stockholders, but the fact that the stocks
closely held precludes any speculation in them
on the strength OF this theory. Commission
houses We're not active factors in the market
the best part of the days business originating
on the floor Of the Exchange where sentiment
was moro cheerful than recently reported, de-
spite advance in wheat on unfavorabe re-
, heavy engagements of gold for export.
Gold TO the amount OF 81. 10000 was taken.
making the total on the current movement more
! than S15.000,0O0. Notwithstanding the engage
ments sterling exchange strong, and in
! banking houses with international connections
It said further shipments Of the metal would
be made and that the total outgo might amount
to S20,0O0OO0 before checked by advancing
money rates There is only a small amount OF
exchange offering at present, while the demand
for eu1itf tS blrf otal,,
country is in position TO supply the metal for
foreign account without the development OF dis
turbance in the financial markets. and, the
amount that IS being exported will be offset
at no remote period by receipts of gold from
Alaska and from the production Of the mines in
this country. The first shipment OF gold from
Nome has been made and IL is due at Seattle in
a few days. from where II will be sent TO New
York through Sub-Treasury transfer. The
greater part Of the Alaska gold finds its way to
this city, and advices now coming TO hand from
the frozen north indicate that the shipments
from there in the next few months will be
heavier than ever before recorded, owing to the
| increased mining operations the improved meth
DDS Of extracting the metal and the enormous
new finds in various parts OF the country in the
vicinity Of Nome and at points the upper
Yukon. Money soon ought to harden apprecia-
bly, at this centre a result OF gold exports
and the preparations for the July interest and
dividend disbursements. particularly as the lat
time in the history of the country.
Railroads paying big dividends banks are
returning to their stockholders large interest
In many cases the July payments being an
nounced amounting to heavier sums than ever
before disbursed-and Industrial companies are
adding to the bank accounts of their security
owners. Railroads and industrial companies as
a rule are strongly fortified against the possibiI-
ity Of trade reaction, while all business concerns
are in better position to-day than at any time
in their history. Even Wall Street commission
houses, which are making money at present
owing to the inactivity Of the stock market are
in excellent financial condition. though they are
frettng over the absence of public interest In
speculation. On all sides there are many ee-
ments Of strength and few signs of weakness
yet securities are selling at ridiculousy low
prices, with little promise Of change in the
direction of better quotations for long time to
come, beyond passing rallies incident to techni-
cal market conditions This situation viii afford
investors good opportunity for the purchase of
first class stocks and bonds at cheap figures
and it is not unlikely that an active demand of
this sort will develop after the distribution of
the July payments. There has been a quiet alb
sorption Of good stocks in the last few months
by people who always have money on hand for
bargains, and as a consequence of this buying
| the floating supply OF securities has been re-
duced materially, factor that may become an
important influence prices at some future
period