The Birmingham age-herald., 1905-08-15
MARKET IS SWEPT ID HIGHER LEVEL Selling to Take Profits Was
 Very Large OUTSIDERS WERE BUYING Demand Became Quiet Later, How ever, And the Professionals Were Again Left in Charge of
 Things.
OUTSIDERS WERE BUYING

New York; August 14.-The speculative forces which developed in last weeks stock market gathered energy for rush with the opening of the week, which swept the whole of the early market to a higher level of prices. The very large selling to take profits which the market had to encounter had increasing effect as the day progressed and gave the later market some appearance of weariness, but there was no mistaking the increased force of the miscellaneous outside de- mand coming from various sources through commission houses, which made itself manifest in the accumulation of large buying orders over Saturday.
 The sufficiency of this new demand to absorb the large selling to take profits was a matter of satisfaction to the ad- vocates of an advance in prices. The quietness of the later demand, however. showed that the accumulated orders at the opening were not followed up in equal volume The professional element was left rather obviously to take the market in hand again. This they did by the renewal of last weeks tactics of sue- cessive advances here and there in the market The volatile high priced stocks continued largely in evidence. but some of
 
 last week were somewhat reactionary. The days dealing which made on the whole a broad and effective market were based on the general consideration which were already making themselves felt last week. Principal of these is the crop out look as defined by last weeks govern ment report. Day to day reports of weather conditions keep up the feeling of confidence in the prosperous outcome of hp ora Railway officials in customary weekly reviews published to- day spoke of the widening effect through all lines of business; of the cheerfulness over the crops. and indulged in some very roseate views of prospective rail- road earnings for new fiscal year. Avail able equipment is said to be a dim inishing scale and fear of rust damage to wheat in the northwest is alleged to have passed. Confidence Is growing in the unprecedented yield of the corn crop. and the corn grangers came into belated prominence in the later hours of today's market.
 Raw copper had another advance and the favorable reports from the iron and steel trade showed an unchanged tenor good effect was produced by the re- port that the dispute over freight rates on certain articles. as between the Att lantic and the gulf lines, had been set tied. and the cutting of rates done away with. Attention was given also to re- ports that the purpose to call an extra session of Congress had been reconsider ed, thus promising delay in the bringing forward of questions which are viewed with some perturbation in the stock mar ket standpoint. The progress of the peace conference was felt to promise well. Some attention was given to assertions that American bankers were being sounded with a view to sharing in a Russian loan The hoation of a Russian loan Some where is regarded as a necessary conse- quence of a peace treaty, and the distri- button of all the worlds money markets of such a Notation leaves the question of tn point chosen of rather secondary importance, so far as the effect on money rates Is concerned
 The deposit of s50O00o at the sub-treas-