The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-06-27
GOOD ADVANCES
MADE FOR MONDAY
First Hour of the Market Es-
peciaIIy Active
UPLlFT KEPT UP STEADILY
Hopes of Wire and Dividend Disburse-
ments Were Also Made Prom
inent Feature of Days
Operations.
UPLIFT KEPT UP STEADILY

New York, June 26.-The course of to-
days stock market was watched with
peculiar interest to obtain light on how
far last weeks professionally conducted
advance would prove successful in awak-
ening interest in the market. The re-
suit was encouraging to the hopes of
those who had embarked in the cam
paign in the confidence that an aggressive
leadership in buying stocks would at
tract following.
The early dealings ON Monday MORN
ing are likely to reflect the conclusion
summed up from the events of the week
before on the part of those who have
watched from day to day without maxi
ing a definite determination. On the
other hand it is often the case that the
professional operators who have accu-
INFLATED stocks only wait for the Monday
morning demand thus attracted to unload
and secure the benefit of the advance
The activity in the first hour today was
accepted as evidence of a considerable
extension of interest in the market, and
buying orders were reported in consid-
cradle volume from widely extended re-
gons of the country. There was not
lacking the customary selling to take adj
vantage of this demand for the realizing
of prices.
But the effect on the course of prices
was not market, and the uplift continued
quite steadily. One or two of the day S
incidents were calculated rather to dash
speculative enthusiasm, but the effect of
these was moderate. 1t was while prices
f1,a re
fixed by sellers that transactions We're
active. When the buying demand came
to a pause no disposition was shown by
sellers to follow prices downward, and
prices held very steadily in the periods
of dullnes5. Prices In London followed
our market, and did not at any time
overtake ii SO that there was profit in
the selling here of stocks, which were
bought on arbtrage in London. Foreign
markets were still disturbed over the
friction between Germany and France.
The Paris market recovered quite briskly,
and private advices received here from
banking sources in Berlin deprecated the
fears felt over the outcome of the negotia-
tiops. A keen demand for gold for Paris
account developed, however, resulting IN
all the supply on the London market be-
ing taken for Paris, while engagements
reaching SO, 100000 for Paris this week
was made here. 1t was considered prob
able that the momeVent might ledch coh-
siderable proportion.
This development had a dsquieting ef-
feet on the stock market, and there was
a marked decline in the rate of activity
after the gold engagements were announc-
ed. There is no doubt that the confidence
felt in the continued great ease OF the
,nonev market has had an important in
fiuence in prompting the present specula-
tive movement. Hopes of increased divi-
dend disbursements were also MADE
prominent feature of today's operations.
With the Reading dividend increase as
precedent it was argued that the poiicy
fhus indicated would probably be pursued
IN the case of Baltimore and Ohio, Nor
folk and Western and Union Pacific was
also made a feature on It's assurance OF a
dividend Increase. The argument used to
enforce the probability of the dividend