New-York tribune., 1907-11-07
BANKERS CHEERFUL.
Continued from first page.


amount Of money for crop moving purposes
they anxious to do all they could to expe-
dite the shipment of grain TO the seaboard
whence ii could be sent abroad, thereby
strengthening this country's position in the for
egr. money markets.
We nave started to send all the funds we
can TO the Northwest" said a bank official lost
night and while the amounts in individual in
stances are not very large. they will in the ag-
gregate total large figure before Tong Within
q week more the flow of gold to the wheat
fields viii be in steady volume, varying in sums
of from $4,000 10 $4,000. Mr.. Hill was
here and conferred with US on the situation
along the lines of his railroads. We promised
to do all could A ready solution Of any
difficulties in the Northwest can be found by
the farmers themselves IL they will avail them
selves Of an opportunity to cashiers checks.
but that is a process of education which may or
may not be difficult TO work out"
II was learned here yesterday that the amount
Of the government deposits directed by Secre-
tary Cortelyou TO be placed in st. Paul and
Minneapolis was S3.0oO.oOO. and that this sum
would be forwarded from Washington. The
local Sub-Treasury. it was said yesterday. is
prepared TO ship funds West should Secretary
Cortelyou deem il expedient.
ADVANCES IN THE MARKET.
The better 3eellnE over the trust company
situation was reflected in the opening OF the
stock market, the leading issues showing ad-
vances Of from l 10 points over the closing
prices Of Monday. The market held its advance
well until the last hour. when there was some
shading Of prices due to fear that the Bank of
England would advance it's rate of discount to Z
per cent at the directors weekly meeting to-
day The close was firm, however, with most
of The active issues retaining substantial net
gains for the day.
Union Pacific sold up to 11Sb and closed at
l11l. a net gain of ~ points. Reading closed
. points up at IS. after selling e higher. Penn
svlvania advanced 10 1I114. but dropped back
10 1925. at the end, and St Paul left off at 1885
a net gain of l point. American Smelling gained
"a closing at 7o1z after selling high II Is.
Ar7alganated Copper was one Of the few active
stocks which showed a decline the day.
After selling at 50 II dropped back to 5013, net
loss Of 4 point.
The United States Steel stocks were the lead
ers in point OF strength, the common selling up
"a 25lz and the preferred 10 S5%s, and both clos
ing practically at the top prices. The preferred
sold "ex" the quarterly dividend Of q per cent.
In the bond market the United States Steel
sinking fund 5s large block Of which is 10
be exchanged for the stock Of the Tennessee
Coal Iron & Railroad Company, control of which
were conspfcuously strong on heavy dealings.
Opening at sag these bonds seemed to be in
great demand at steadily advancing quotations.
They sold up to s5% and closed at SSH.
TRACTION STOCKS IMPROVE.
Even the local traction stocks Joined in the
upward movement, Brooklyn Rapid Transit
gaining IA points, Manhattan 3, Metropolitan
and Interborough- Metropolitan common Il.
The two Hill stocks, Great Northern preferred
and Northern Pacific. showed gains at the close
Of ~ and as. respectively.
Tennessee Coal and Iron on sales Of only 200
shares dropped points. 10 129. Illinois Central
on light trading advanced AZ points. TO 125.
Pacific Coast first preferred. a most inactive
issue. on a sale OF a single hundred shares de-
clined Box points. to So.
The engagement in London Of several millions
more Of gold for export 10 New York
Of the factors which added 10 the underlying
strength Of the market Call money rates were
firm. with % per cent the top rate and 10 per
cent the lowest Most Of the loans We're made
al y per cent which is considerably lower than
the average rate last week There a sharp
decline in foreign exchange rates. due to the
cessation Of sharp bidding for gold by New York
banks The actual arrival Of the first instalment
Of the gold secured in London last week also
helped to restore confidence
guarding Of the s7.1O0,O0O in gold coin and bars
in transit On the North German Lloyd liner
Kronprinzessin Cecilie from Bremen prevailed
yesterday, when the precious consignment
taken from the steamers strong room and carted
from Hoboken 70 this city in large trucks
HANDLING OF GOLD
4 curious crowd assembled outside the North
German Lloyd pier in Hoboken and watched
dozen husky men put the 30 steel bound boxes
or the trucks The gold was handled with about
a. much concern as II II hac been scrap iron.
Several men who sat upon the boxes on each
wagon from the time they lef; the pier until
they were deposited in the Sub Treasury and
the Assay Office looked If they might have
been heavily armed. but no OF them would
admit that he carried weapon more deadly
than pocket handkerchief
Gun in me hip pocket?" laughed one Of the
guards What fur? People amt taking these
days only what they can get away with. The
job would be too slow and there would he
get away, you they ain't need of
packing 4 gun"
The coin consigned TO the various banks in
this city deposited in the Sub-Treasury and
the gold bars taken TO the Assay Office.
The Cunard liner Lustania, due here about
a. Friday has S10010OOO for the relief of
the financial institutions of the country.