New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-01-26
BANK STOCKS ON STOCK EXCHANGE.
FINANCIAL MARKET
Money Rates in New York and
Paris Under London's Level.


volume throughout tho five hours OF
business on a movement Of prices that
.a,,ded Z, tho direction of lower levels III
tho hest mart Of the day. The street
bod M exclamation TO offer for the de-
cline bevond realizing sales ana pear
Dressure. To this explanation sh"un oe
added tbe absence Of public buying DC
,,ard and apparent uuwillingness on the
,,art of tho substantial banking interests
r. encourage operations for higher quo
tetions. Banking interests are so ousS
with financial operations in cohnec'io''
NTH new mortgage issues by cor
norotiors and municipalities that they
ha,e little time to give TO specu-
lativo movements, but as the success Oh
,beir Mans for new financing depends u
- large extent upon stability I'm the STOCK
,,,or,,ot there Is no reason 10 suppose tnat
.rvthing in the nature Of hear move
,nent Is likely 10 develop. Traders are
Looking forward. however, to decline IN
February because strong stock markets
in January in the past generally nave
been followed by declines in the following
month.
Conditions at present are somewhat
novel and different in many respects
from those at this time in former years
and this I'm connection with the fact that
The neriod Of reimbursement in money ana
business apparently is nearing It's cnu
together with the known attitude % the
chief banking interests on the sloch
market should be carefully considered
hv neople who may have in nina oper
o,,ops based upon a long period Of de-
clining prices on the Stock EXCHANGE
nec,ines in the leading shares yesterday
ran from fractions 10 more tnan poi"'
,yithout bringing out important offerings
20 stock There was some evidence tha'
certain interests had converted paper
nroNts into cash with the expectation ol
/ buving back ut cheaper figures While II
was reported that some of the forenoon
sailing was for the account Of people VINO
desired IN strengthen their cash resources
in preparation for the possible necessity
Of rendering support to the market ]"
tho event Of a decision in favor of the
| Government in the Hartman merger
s,rt The Atchison's favorable showing
IN net earnings for December failed tc
holm the general market, while the sue
cess Of the city bond sale likewise was
! without effect upon prices. ST. Pau
was heavy on uncertainty over the diVi'
dend action by the directors. II can
be stated on trustworthy authority tha'
the ST. PAU directors will declare the
regular dividend at their meeting
on their operations with the Sub
Treasury the local banks have gained
inward Of S1.JOOO0O in the current
week. against a much larger amount IN
the same time last week while thelI
gain on the interior currency move
ment also shows a falling off. although
receints are still well in excess Of ship
ments Based on the known course oil
money Saturdays Clearing House state
u1ent should present an increase III
cash holdings. but changes in the loan
account az a consequence Of the IMAM
cling of new securities issues, Including
the Offering of New York city 4'4s. may
offset the Improvement in cash as an W
euence upon the reserve above leeai re-
c,irenents. which in last weeks cxhih-
! II stood at little moro than $39NoN"
! discounts continue firm in London
while i'm Paris and New York money
rates are easy. with every indication OF
! soft market for weeks 10 come and
poysible shipments OF gold from here
f. the British capital unless London
should become heavy buyer of Amori
! can securities. Doubtless q substantial
amount Of tho new municipal bonds vii
bc taken by foreign interests, but "
tho present state Of the English ant
paris money markets the latter centre
| &C. more likely 10 absorb them thar
I I..t