  The loop equations in the $U(N)$ lattice gauge theory are represented in the
form of constraints imposed on a generating functional for the Wilson loop
correlators. These constraints form a closed algebra with respect to
commutation. This algebra generalizes the Virasoro one, which is known to
appear in one-matrix models in the same way. The realization of this algebra in
terms of the infinitesimal changes of generators of the loop space is given.
The representations on the tensor fields on the loop space, generalizing the
integer spin conformal fields, are constructed. The structure constants of the
algebra under consideration being independent of the coupling constants, almost
all the results are valid in the continuum.
