New-York tribune., 1910-02-25
FINANCIAL MARKET
4DTaNCE IN STOCKS.
Modcrafe Rally FolIo5cs Dut-
ncss-Position Of Banks.


price changes. it WAS not ur'tIl noon In"I
tbc stock market began 10 develop a'-
tiyjf1. Y hich increased during the alter
noon hours and which was accompa Mel
IA, rising prices: and at the close net
gains were shown for most OF tue .
.-,,ee Tho advances were i'll the main
Fractional conspicuous exceptions De
ing Louisville & Nashville winch sai''en
a. points on buying accompanied 10y re-
morris of dividend increase and OF ne"
stock issue. with valuable rights: Atiah-
liz, Coast Line. which rose SIS in sym
nathy With Louisville; Colorado u
Southern. which gained rs on supposed
Hin b1yine: Union Pacific. the 2i2 points
cain in which was hailed as q favorahit
sign by the bulls. and Brooklyn Kappa
Transit which advanced ~ points on
compa ativcly large buying. st fauh
Atchison New York Central. Souli"rn
r,arific Baltimore & ohio, Amalgamated
conner and American smelling and Re
timing advanced more than point each
Total transactions were about 7"'"oo
shares in excess of Wednesdays, but the
active list was again restricted III sue
with no dealings in numerous issues
commonly to bc found on it The day 5
trading was almost wholly professional.
and MAS based upon no actual news d.
,-elonroe,,ts. Stocks wcrc bid up. and
we're found to advance easily on mini
mum ef buviug. and. with the tendency
seen TO be upward. there came more 'r
less covering of shorts in the late alter
noon
While call money \ t this centre IS ut
an easy level a slightly firmer tendency
is reported. and in the time department
rates. in spite of an absence OF demand
from Wall street houses, arc well main
tanned. owing 10 An improving inquiry
from mercantile sources Quotations 'or
money at interior points arc higher IMAM
they ere in New York and 1T IS not nh-
likely that in the course of the next TOW
,,aeI,s tho movement of currency VIII
change i'm favor of out-of-toWn points, a
reflection Of which is presented IN 90
mestic exchange, which is tending
against this city, rs il usually does at
this time of the year. Foreign cAchariSc
rates here do not suggest exports OF So'u
to Europe i'm the Immediate future, out
il is quite probable that further ship
r7onts of the metal will be made to
South America. with movement across
the Atlantic later in the season. unless
investment purchases of American Sc
curities for European account should lie
heavy enough 70 offset both the weak
position this country holds in foreign
trade and our financial obligations
abroad other than those incurred in for
eicn commerce operations. The Bank of
England made 10 change in its minimum
rate of discount yesterday, and though
reporting u proportion OF reserve to Id
bility lower by a point than week ago
its percentage OF reserve Was higher
than the average for this period in the
last ten wears. tllc figures suggesting tn"
iInprobability of either reduction or
am advance i'm the minimum discount
rate IT a near date
II is interesting to note that accord
ing to the compilation made by the Con
troller of the Currency from reports of
rational banks Of tic United States as
of January 81. there has been an increase
i'm loans since November 16. 1902. of
sS01l5. $50 and from February ., 1909 3n
increase c. S3SS. Sc &$7, while cash as If
Iar,Iarv Il has increased $29.21SiS4
since November Is. 1909, and is off $2s.-
o3S0IG since February ). 1909. ;hcse
items not including rational bank note
circulation. which in the last twelve
months has increased more than $1,000
Go0 Individual deposits nave Increased
&70.sae.z56 over thc total reported last
November and s4al 152.211 over the total
OF February :, 1909. government depos-
its compared with the latter period
SLOW ing reduction of s'l.526,6o3. Gov
crnmeni deposits in national BANKS now
stand IT t3e9Sa21S, and exclusive Cf
this amount tho available working bal
ati..o - the federal Treasury is only
rf9.0I90G2 GoveTnmort receipts on ar
dinafl account arc incr asing. So far
iu the current month 81 excess of re-
ccipts over expenditures is reported on
all accounts comparing with a dehcit in
The sane tiIue ltst ear. alJ ia the pres
ent fiscal year TO date the excess of eX-
renditures shows q decrease OF S583@7,-
GA from the deficit Of q year ago