The evening world., 1905-11-14
K4LLSZRET
TUESDAY, Nov. |.

TUESDAY, NOV H.
A score or more OF big bear operators
concentrated their attacks on Reading
to-day. James h. Keene appeared to
be In command Of the attacking party,
and the question OF the hour was;
How long viii the Reading pool be
able to hold out against such vigorous
onslaughts? While the managers OF
the Reading pool affect ind ference, 1t
Is evident to unbiased observers that
there Is great strength as well rs de-
termination back OF this attak The
hear element has been heavily rem
forced within the past few days.
Western operators who have been oar
ry.ng large blocks Of Reading all the
Nay up from ll5, threw Their holdings
on the market the first thing this morn
ING, causing a break Of Two points in
the price. There was lively sourrying
on TIE part Of the Reading hackers,
and for half an hour The Reading pool
abaorDed the freely offered sock as a
sponge sOaks up water, phe price
Jumped quickly IRON lS 3-S to lj la
1t was the avowed purpose Of the
bears to hammer Reading until the
pool abandons It's bullisn attitude
With this powerful pool out OF the
nay, according to the calculations Of
the bears, the general market wall 90
70 plecrs, and the operators who have
been selling stocks short Dor the pas
two weeks will come into their wi
The vitality OF the Heading pool sur
pr,sed but did NOT discourage the at
lacking party. Mr.. keeno Is a cam
paimtr " hardy tenacity n ne ap-
parently expects to overcome the
pools resisting power by persistent
assaults
Baykcrs Of Reading were defiant and
aggressive during the day. They insist
cd sAat their position WAS impregnaole
and .ntimated that the lear operators
we're letting themselves Into a trap. The
principal members Of the Reading pool
are Plttsburg capitalists and the asser-
ton was made on the hoor Of the EI'
change that Henry c, Prick, a large
individual colder OF Reading stock, lad
assured the pool Of his support. Mir.
Frick has, on more than one occasion,
expressed The belief that Reading cym'
mon was worth over 80.
The nigh money rate eXerted a strong
influence on tae market to-day as II did
yesterday, giving encouragement 10 the
beariSh element. At the opening OF the
market several call loans were made at
10 per cent. one Arm alone placed
3l,OOO,OUO at hat ngure. Very soon tae
rate advanced 70 IL per cent, and there
were a number of renewals and new
ans at that rate, The attitude u the
secretary Of the Treasury toward the
monetary situation continues TO be an
absorbing topic IN Wall street, Brokers
VINO nave private wires to Washington
posted bulletins throughout the day,
most OF them OF this tenor:
Secretary shaw as vet sees no reason
Tor interfering In uae New York money
situation"
one VI tao Washington dispatches
said that President Roosevelt approved
Secretary Shaws attitude, and had ad-
vised the Secretary not to interfere un-
less legitimate business interests de-
handed relief, II is generally conceded
that the natlOnA. banks Will be per
m!t,ed to dip into their required re-
serves O. a moderate extent while this
money s%tringency lasts,
During the extensive liquidation In the
stock market an uncommonly large
amount Of Hypothetical long stock