The Birmingham age-herald., 1907-06-08
CHECK GIVEN ID
 STOCKS ADVANCE Heavy Engagements of Gold
 for Paris Shipment RAILROAD RUMORS FEATURE Continued Discussion of intended Con ference at Washington Tonight on Proposed Prosecution of the
 Hartman Combination.
RAILROAD RUMORS FEATURE

New York. June 7.-An active absorp- tion of stocks on rising scale today was brought almost to a standstill by the un- expectedly heavy engagements of gold for export to Paris tomorrow, conditions in the exchange market had prepared ex- pectation for an additional shipment to- morrow, but so large a sum as $S46,OOO- 900 was a surprise. The movement was the most impressive by reason of the failure of the foreign exchange market to show any effect as is usual, owing to the custom of selling exchange bills against gold shipments when they are made.
 The rates today, however, were firmly maintained, and 1t was that the out ward outgo of gold was to extend over into next week. The Paris market stands under obligations to New York for $i,- OO0,O00 on subscriptions to New Haven notes, which mature next week, but this obligation seems ot have no effect In checking the flow of gold from here to Paris. Today's $9,6OO0O0 engagements will not figure in tomorrow's bank statement. Nevertheless the sub-treasury's absorp- tion from the general money market up to Thursday night principally on account of gold withdrawn for export had amount ed to $4S7,O00. This was offset to only a small extent by the balance in favor of New York on the currency movement with the interior, that balance having fallen considerably below the figures for several weeks past.
 This course of currency had no effect on the rates for call loans today. The tone in that department of the money market remained steady Payment was made to- day also of a $3,00O,0 900 installment of sub scriptions on Great Northern preferred new stock. This heavy drainage of cash reserves, while so many eager require- ments for new capital purposes remain unsatisfactory, is regarded as something of an anomaly, and has It's effect on spec ulative sentiment, in spite of the ab sence of effect immediately in the money quotations. Much importance also Is at- tached to the government crop report to be given out on Monday, as a factor to- wards settling convictions in the crop con- ditions. Reports of low condition and es- inmates of the winter wheat crop today made by state authorities in Kansas and Kentucky served to shake to some extent the confidence that has been felt that Mondays government report would show marked improvement over the previous monthly estimate.
 
 rumors of new railroad relations which came into circulation. Apparently the plan for transfer of control of the Boston and Maine to the New York, New Haven and Hartford gave the impetus to these ru- mors Many of them centered about a Supposed tranefor of control of Delaware and Hudson. but none of them received any official sanction. The coalers were all helped by the evidence of prosperous conditions in that trade.
 Included in the showing was the huge increase in the tonnage of many ship ments over those in May of last year. Readings prominence in the days ad- vance was partly due to this, and was in- creased by rumors of a proposed increase fin the dividend rate also without official sanction. There was continued discuss sion of reports from Washington of an intended conference of government of- ficials to be held at the White House to- night, at which 1t was alleged a decision would be reached as to the prosecution