The St. Louis Republic., 1905-11-16
STOCKS MAKE FURTHER GAINS
on Better MONEY OUTLOOK.
STHINGENcH LESS SEVERE
THAN ON PRECEDING DAY.
Heavy Resort Made in Other
Money trntcrS Ia Take Over
Credits Forced to Settlement.

New York. NOV. I5-Si"ks made rur-
tE'T recovery today unr"r IA" IHH!"u"'
Of return "i con'!,icn'' IN iiI. HE.'rs'.I ut
{ look. ih'r" Vas continued stTins"n"y la
1 tn. m"n.'y market. but u vds. les sever;
| tuau Yesterdays. .'S Yesterdays was |. -
' .'v"r" than Monday.
Nhi!c !atcs' Wei. E"t so high as E"s;'r,,,
day at Tn" MAXIMUM. th'-N wsT" vel!
| .,Dcv" tn" normal Isut Il ras obvious
that AT the urrvailgn. rates sum Mt
| funds =. to b- ha1 to -n""i Ih.. ii. uIiiId.
| ir"rc Wis no further cvit, noe ~ forced
! l.qGidi,I"It in Consequence "i iagk u; iUnrS.
/ @ciiv" discussion still ."'it"r,d on the
money situation. ani its principal phds''
| today "aS as TO the means which had
t-cn used 80 'ats" TIA" SITUATION.
1t il mot commonly brii.v"d that any
thing like sufficient liquidation ~ stocks
| -, r..i.":i"u oi .Har- h.is .~'m ,r;r.,'d To
.''''''InIi~l 'i.. ,ssi,E '"rl,!Iii'.i- III thu
money market
Ii Is known that very heavy resort Las
been InaI- To- orH.r Inr:!"y ',.It"Is TO tiE,
over tnc credits Hh!Ch Ne. S.IH- iv:ved
I" >CtiG' r..-I.t 10y al" money su!ns"uCy
here. ana the attraction oi tnv nIEh InIeT-
ct rnIrS HAD. TINS ."asIEi: 10y bringing
| Il. iaI-. "Ii,IIrs> u foreign rn"T"y ~ lac
new iorn mLrnU;-
IN. operation IA tn" rJ:su!- q: the
sam. "nd mas been a hrs.. transfer "I
speculative holdings from New York 49,
foreign markers. Ihis was acC"'nTiI> h'7.
h" sal-s Ui sioch- h.r" and r'pG! I'D :. :
q. tn, ~tIn. ISSUES .l r"r"I"u markets \
parallel operation was III" paying ~ UI
leans IN New i"'k 10y ~!:i'h th- &c -
liar pGr,Csc IA IL. foreign money HIarh.yt.
the London G"maII'; I". stocks her is
believed TO n-' tn. ..sGit OF THIS process
and shows the "fis.itiE: effect Ii ~.
OPERATION ~ on" market against til. "t.l';.
The .i-h money lat" ais" HiS attracted
funds from out -! town point. 10Th in
Canada and ia tbs. West. There l. out
spoken discussion ar"Ur! ih. S;u'k EN-
cnsESe of a SuIf'OSitIrE that tn" banks
ha.s" determined Ihc'!.s"!T'. aatn'.tz'G I"
MAX" further ":l-.cs, f!.l"!.t, "r in'ir r..
serves In spit" Il tn" a-nc!I t.ss.. legal
requirements shown sIiu.Gay = bank
statement.
Some cf the sycJ G!,'.yc comment ~ the
situation aIorI- 10 the published utter
auces %; the Secretary a.; the Treasury
sn Inf-rentisi sanction to- this acton in
cs>e OF its being ncc. ssary TO avoid
financial trouble
II il pointed "ut that th- issuance Of
4 call u."u natiuUt! banks To Tcyori their
condition. ~ of NoI"mt'T . relieves them
from the necessity "f keeping u3 reserves
for the pYrUDS" OF HiE !o~ dressing.
II g admittedly customary IN anticipation
OF III. ConIp;rO!.e;'s call
\ similar Cail Vas sent out today ~
the banking department -; Albany Tor a
statement o. IN" condition OF S,Ti,. banks
and trust Conran!cs. also a. =: Ncvsu!-
t-ra
The >am. condition. therefore. applies
to IN. trE%t ,gmpIui.s IL tEia matter aS
10 tn ;sah With IN" relaxation III IN"
money rate to-day. sterling .Nr rnang. r.
came strong scGi1. i"-,iay ami tgTg-! DE-
scrutiny q: yr.C" chsUgss mad. dur
irk the day lis. .lcs"- to~ i4rEe a part
WAS played 81 q hy SP-cia,iI.s ~ dis
tnRuisheG from tne general standard
market i-at'rs. itsg" covering - srOrt-
WAS undoubtedly AT important factor aaI
tn stocks under pa. goHtroI the move
ment against IN" shorts was .sP"g ally
aggressive
The strength o. other :-u..idusI >to,'Ss
vas attributed t. sT"'iaI cs.Es"- al
though th~y Ser" not a.wayS 1.rp-n-
locking Valley hal Ea r-.r.,r.F,..Gs.y
r1Dy. y.sUcUt on .urTp- t;na z. Tho coming
retirement u tn. yE-ie.gsE stock Buy
ing - IN" ka~~ls and I9Aas s'n,h- VA
q s.i ;n u 30 he Burlington interest.
Advance n Southern -tDrk rlaas have
h".E N connection with to- Turs- lh-g-
a "St!.I@t" - n" cotton CON Rail
Uav S;S.i' Sp-tr- a-a.v !ns d. u1uy.ms:s.
50 th- railroad -I'.r srIH..l.t ~ggf kS .!r which
TIC - trsr stp,NS -hsT.d. tn rTesgs-I
Standard a.. dividend was a -.'r ,n r.r
market The qro!'-sE Ek.r< .u o.. late I.a'-
aN- made Crlv >iEEl- .-Igre--fu0 on
'ne closing. vhlHE vs. C"G"Tsl'- -frU==.
Bonds W." f-r-- Total - 's= glr val
Gr - :" Jr.t"i >t-'.s bari. gg.r-
AL unchanged ~ sal.