New-York tribune., 1908-06-16
FINANCIAL AFFAIRS
SMALL STOCK CHANGES
Closing Figures Shoe Fractional
Variations-More Gold Erports.

We'll Street at least that part Of II KNOWN as
the speculative community, confined us al'eli-
tion 70 news reports and gossip lrolh
Yesterday the Stock Exchange supplying Oh
amount of business that represented no'hlhs pe
vond the insignificant operations OF uhiiiIO 60
traders At the opening experimental safes VI
stocks were made by the board room eleHieh'
on the strength of the third-term taIh from 'ie
nresent centre Of politics, but there was ap'o
iute1v no response to the movement and at no
.t..o =, the balance Of the day there an OPP
,,o-tuni+v TO get back stocks sold short at prices
below the initial quotations. 1t was Gay win
ont the opportunity for prontaole uaulhs 'ii
either side of the account, final figures showing
only small fractional variations, except III tile
Erie shares which suffered moderate losses ior
resso-s not general to the whole market olhon
Pacific supplied nearly one-thlrd or 'he to'dl
dealings of IS, $50 shares, and with SIX othel
leading issues furnished more than thfee-qudr
+e-s of the entire business The Hartman
stock Tinted States Steel Arnalgamated Cop
1er and St Paul ended at fractional gains Wfhe
Northern Pacific and Reading were trlle uliueF
their last quotations in Saturdays tradlns'
Afanv stocks were not dealt in at all Specula-
ton was uninteresting throughout lhe sesoloN'
but the hours of business were enllVeneo pS Tie
,-o-ir views of traders on the course of affairs
at Chicago the prevailing tone OF sentiment pc
;pe most friendly toward Secretary Taft, put
very much at sea as to the probable erect OF 'ne
T2anuhicsn platform Wall Street Ihere
SON-D
for President Roosevelt. They assured their
friends that in the event Of the PRESIDENTS re-
nomination Wall Street would have TO relre
from, business but their silly cacklng mercy
added TO the list Of stupid doings OF stupid
day.
Local banks continue to gain cash on their
oneratfons with the ub-Treasury and the in
terror and the chances are that there VIII De d
steady accumulation of funds at this centre Tor
q number OF weeks to come despite the prob
+ar1, institutions According to the returns OF
the Clearing House banks. the trust companies
and non-reporting state banks of New YORK " "lle
amount of cash held in this city is S44io'ZZoo,
| eoual TO one-eighth Of the total amount OF
money in the country, and with such an enor-
| mons sum on hand at time when the demand
| for business and stock market purposes Is ex-
trernely light the outlook for a material advance
| in loan quotations before the autumn demands
| for crop moving purposes becomes urgent is
| distinctly unfavorable. The ease in long time
| loans does not foreshadow any trouble in the
time department of the market in the fall Whlie
| il is not likely there will be any disturbance
| in call funds, though the shipments from here
| 10 the West and Southwest undoubtedly Will be
| heavy when the time comes for the harvesting
! and marketing of grain and cotton Interior
| hanks have heavy deposits at this point and
| they will be compelled TO recall large sums in
| the fall. but New York should have no diff
| Guilty in meeting the drain without imposing any
| hardship upon local borrowers on Stock Ex-
| change collateral London discounts were cas-
| ier yesterday, Paris rates were unchanged and
! the Berlin quotation trifie firmer than re-
| corded at the close of the preceding week. Con
| ditions at the German capital still unsettled
| hut they are far better than they few
| weeks ago. owing to heavy receipts of gold from
| New York and London, and according to cable
| asivices no further serious trouble is expected
| Sterling exchange was stronger yesterday, and
| the advance with the payment of interest by
| the German Bank gold in transit made further
| enpaeements of gold for export possible. One
| firm took $500, 600 for Berlin account