The Birmingham age-herald., 1905-08-23
READING AND ERIE
 CAUSE SENSATION Both Stocks Make New High
 Records in Market OUTSIDERS ARE BUYING Americans in London Were Slightly
OUTSIDERS ARE BUYING
Americans in London Were Slightly Lower in Sympathy With the Break In Russian and Japan
 csc Bonds.

New York, August 22.-All other events in todays stock market were completely overshadowed by the sensational upward movements in Reading and Erie. On an enormous volume in trading Reading ad- vanced 3B points to a new high record in the first hour, soon lost much of its gain but as speedily recovered and closed with a net advance of 27s points. Erie on very heavy trading advanced 27s to 511a, also a new high record, and closed at 51ss.
 It would be Idle to advance any special reason for the movement in Reading A pool of considerable proportions had been operating in 1t for almost year and it's advance in that period has probably ex- ,eeded that of any other stocks In its class. Ever since Reading crossed par there has existed a good-sized interest and today's early upward rush was strongly suggestive of drive against this Interest. In the opinion of shrewd ob- servers. however, this but partially ex- plains Readings phenomenal rise. Ru- nor that the stock is to come in for an increased dividend at an early date was current as was also a report that the road is to figure advantageously in a deal now In process of formation but neither of these stories arose above the level of board room gossip.
 Much of the buying of Reading during the past few Weeks has come out of town according to reports, Philadelphia and Pittsburg houses being prominent on the long side Operations in Reading ag- gregated almost 25 per cent of the days entire business. The rise in Reading serv- ed to stimulate the balance of the list for a while but a reverse movement soon set in. The Pacifics, New York Central, Atchison. Delaware and Hudson and some of the more active industria1s yielded a point or more. The reaction was checked by further rise in Reading.
 In the last hour operations centered largely around such stocks as Delaware and Hudson, Lackawanna and the Fries. The grangers were neglected the greater part of the day. St. Paul being the only steady stock in this group. Aside from some latef strength in American smelting the industrials were without feature. the steel stocks displa ying heaviness through out. The market broadened in the final dealings. trading switching from Reading to the Fries and other coalers. Purchases of the Fries seemed to come from the same Interests responslple Tor the nearly rise in Reading. London was a small fac same interests responsible for the early purchases of Reading were soon exchang- ed for profits. Americans in London were slightly lower in sympathy with the break in Russian and Japanese bonds. The gov ernment's weekly crop summary bore out recent forecasts as to conditions at western and northwestern points. Some damage to corn was reported from the middle west and southwest. The local money market continues very easy with no increased demand.
 Bonds were irregular. Total sales, par value, s3S54,000 United States bonds were all unchanged on call