The Birmingham age-herald., 1905-08-16
BEARS MAKE RAID DURING AF TERNOON Have Little Success ip DisIodg- ing Any Stock INTERIOR WANTS MONEY Currency Demand Ia Only Question Which Seems to Weigh
 at All Upon the
 Market.
INTERIOR WANTS MONEY

New York. August 15.-The tide for the demand of stocks was reduced today and while the market showed mixed points of strength. they were not so predominant Ing as for sometime past. The desire to take profits eventually had its part in the selling and the failure of tho efforts to get the market move upward prompted an attack in the latter part of the day by the bears, with some signs of concert and organization. The attack had little success in dislodging any stock and a rather nasty movement to cover shorts followed. Some of the principal selling was much concentrated in character and was the ground for the supposition that soma of the large operators who accpmpa- nied stocks early in the movement were lighting their loads.
 It was even surmised that the supply of stocks might be coming from some of the large banking intersts under a precautionary motive and with desire to check speculative excess with the pe- riod approaching for the reduction of banking reserves in New York by the de- nand from the interior. The problem of this interior demand for currency is the only present question which seems to weigh at all upon the market.
 Attention to 1t Is stimulated by yes- terday's telegraphic transfer to Chica- 90 of s5o00OO, although the approaching turn in the tide of the currency move ment has been manifest for some time past in the course pursued by the in- terior in effecting payments of internal taxes to the government by drafts on their New York banks which Is an n- direct transfer of requirement. upon New York reserves. Reports from Chicago show that an opinion amongst brokers there that money rates are likely soon To work closer The general promise of the grain crops indicates an extraor- dinary demand for currency to effect their movement, and the stimulating ef- feet upon business and industry in gem eral is reflected in growing demand for credits in the west which promises the full normal requirement. on this center
 The supposition is taken account of also that yesterdays conference of prominent Jewish bankers with the Russian peace enyoys may have the effect ultimately of paving the way for participation on the part of New York bankers in future Rus sian loan. While the present view of the peace conference is that favorable outCohie VIII result, tnere IS the reserve caused by the possibility of it's failure, which would unquestionably have some depressing effect on the stock market
 The weekly crop bulletin of the weather bureau was regarded as giving every en- oouragement to high hopes now enter tained for the great yields for the grain crops
 The outlook on the cotton crop was shown to remain less favorable. The be- x.4.x. .t...w
 state commerce commission of the charges against the various railroads and private car lines which are charged with violating the regulations for uniform rates was something of a weight on the list of railroad stocks which were most af- fected by the pressure to sell. The corn carrying railroads were relatively firm