New-York tribune., 1908-06-27
FINANCIAL AFFAIRS
STOCK T4LUES HIGHER.
Prices 4drance on Traders Buying
Banks Gain Cash.

- ..-so,-,e short session on the Stock EX-
change the movement of values as d lule - 81
in tie direction Of higher prices on Hoiu -,
business that showed an expanding tenueHNN
though the increase in dealings was Colili
The leading issues such Reading Ciiio
Pacific United States Steel ano AIhais0i ns
Copper Several Of the more Sacti'e ,aS+
touched the best prices of the week III at .
hour when the general market sHo" 80 DoI
pronounced strength, under the leaa oi o, -. l@~
paod,ne and Union Pacific; but the noNeiieil'
attracted little outside interest, opeialolis -
senting in great part the coNer!hs y. 49, C+eeI
,,,- rr7e hoard room element Unlleu o'o'e -.
con,rnon was taken in fair amounts py suoS''
-, ;+araets in the first hour. and subsequently
7ors we're buvers while the latter also ooush'
70 a small extent Rock Island ana Frisco So
on the strength Of the official denlais 'iIf! - m
vould be any default on the july o"lis" -
,be ST Louis G. San Francisco CohnpanS'
onerators have been working overtime 10
,o-e on Rock Islands position and that Oh i's
controlled roads and their attl'ude '.i 10"
stocks of these companies suggests tiie - =:
hiIitv of similar attacks upon o'liei =;
N. course of the next two weeks thousn - -
=. ,,,.o,,. tho movement will be accompanied pS
o,,,,ne 1iouidation. Spectators Mho "
anxious to bring about lower prices no -
.-g,,rnents in their favor, despite tile ~" -
- situation and the approach OF the Bryan
convention and if the results at'allieu III -
.or+ ,,,eel. are TO be taken as lo1ecds' "
,bosa 10 follow there need be no uile'sl +. -
among the people who fear the deNei'l Ut
a decline at present large enough 10 5
their accounts. Stocks are IN s'ioie p;neet
t,o1ders do not care to sell This Is the t.s plssS
,+oa1o ogains+ A successful bear calhp"Iei'
Cron reports yesterday were faVoraoie'
.ordi,g 70 the known movement OF mone!
,r tho week the local banks nave sdlieu 80
.toc 600 IN cash and the chances. therefore are
-. -'o,' go hank statement will show further
.sd;.io- ~ reserve and cash holdings The banks
/ I,o1d ca ,,uch money that the bank statement
attracts little interest in the street. "AOeF
showing the tendency of business IN tne COUNT
which at the moment presents Io ~ i, .os
activity in our general industries thoush II ae
! ooo~+e nreeent some evidence of returning HE
/ I'm certain lines. There is no great oehsiiu ipi
| funds for any period. The cheap rates at WHICH
long time money may be obtained nave not dt-
! 1racted an active demand. but bankers are nS-
| ZINC ON q better inquiry for accommodation in
| August when they believe there will he more
pronounced signs of business and speculative re-
| viyaI assuming the crops at that time give
nromise of big Yields and conditions point Tow
ord the defeat of Mr Bryan and his policies
| One of the best reasons for the belief that the
Democratic party will be a loser is found in the
! widespread dislike in the Countrys business CEN
/ tres of the Bryan policies. Business men be-
/ liexe the nations industries would be long
! time reviving if Mr. Bryan should win, and
! therefore they intend to exert all their influence
/ against his election. The majority of voters
! concerned in their country's material welfare
/ and as consequence holders OF securities need
not become alarmed as the campaign pro-
crosses over the possibility of success of the
man whose ideas always have been distinctly
antagonistic to vested interests. There doubt
less will be little Bryan scares in the stock mar
ket at frequent intervals in the summer. The
4 bear traders in the dog days viii demand amuse-
ment, and they will hope to get ii at the
| pense of prices but only foolish minded owners
of securities viii part with their possessions as
| result of the Bryan argument. People who
1 have Idle funds on hand ought to buy good Sc
curities all declines especially attractive rail-
way and industrial mortgage issues.