New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-10
unlisted.
Closing prices of active bonds dealt in. with
STOCK MARKET OPERATIONS.
changes, follow:

Stock market operations were made up In
great part Of the transactions of the board room
element commission houses having few orders
for public account while the more substantial
speculative interests were not active. except in
a few of the leading stocks. for which they
placed buying orders on the late decline Ex-
pectation Of a poor bank statement led TO ir-
regularity and some heaviness IN the first part
of the session. and this followed by general
weakness in the last half hour. when a selling
movement of moderate dimensions developed as
result of the Clearing House figures, which
showed a decline in reserve to the lowest point
for any corresponding week in the last twenty
seven years. The loss IN cash. amounting to
more than 100000 about four times the
amount indicated by Fridays preliminary esti-
mates of the movement Of money, due presum-
ably TO special operations not included IN the
figures upon which the usual weekly estimates
are based. The banks lost in the week to the
Sub-Treasury regular account and gov
eminent Withdrawals of special deposits while
they also lost TO a small extent on the move
ment of currency with the interior; but the loss
on these accounts did not make up the large
decline recorded in the statement of averages.
the discrepancy doubtless coming from unre-
corded over the counter movements, the shift
ing OF accounts incident to the final payments
on the city bond issue and preparations for the
withdrawal of government funds which Will be
made this week OF the total loss. five banks
namely, the National City, the Bank Of Com
merce, the Hanover, the First National and the
Park, supplied the greater part their combined
decline in cash holdings reaching 1924 800
against a reported net loss for the entire group
Of s1207L6OO
AS a result OF all changes the reserve above
legal requirements declined So 2SS 225 to So 345
FL,
ago and $11 925 in 1905. Loans increased
S151S9OO. The large falling off IN bank re-
serves undoubtedly will bring about a frmer
market for money in the current week but the
effect on sentiment Of an advance in loan quota
tons may be offset by the position Of the foreign
exchange market. which suggests further en-
gagements Of gold in London for shipment to
this country. Foreign bankers may not feel dis
! posed TO let the United States tap their gold
supply TO a large extent, but, inasmuch as for
/ eign exchange is In favor Of this country owing
to large trade balance abroad and to the
willingness of European investors TO buy our
attractive securities, It IS not likely that even
| an advance in the Bank Of Englands rate of
discount VIII prove effective in preventing a
| movement OF the precious metal to this side of
! the ocean, though the burden OF supplying our
needs may be switched from London TO Paris
Last week in the local exchange market francs
sterling in Paris. Higher money market rates
here doubtless VIII make impossible public n
ticipaton in the stock market and serve to post
pone new securities fotations, but there appears
10 be intention the part Of railroad corpora
| lions which need additional funds to keep out
| Of Rhe money market note issues direct
| loans on collateral. despite the high rate de-
manded for accommodation.
Declines In stocks were not heavy, amounting
| as a rule fractions in the leading active
shares. the chief exceptions being Atchison,
| Northern Pacific and Reading, which presented
! net declines of more than per cent. American
Sugar Refining again showed exceptional
| strength while Anaconda also was strong. In
| the last few days there has been accumulation
| Of Sugar Refining by interests closely identified
with the big sugar company. United States Steel
stocks held fairly firm. and the preferred was In
| demand from investors. Final prices were a or
near the lowest of the day throughout the list