The Birmingham age-herald., 1905-07-30
MARKET CONTINUES
 ID BE ANIMATED Some Striking Gains Are Re-
 corded During Day
 TAKE WEEK END PROFITS Prices Have Advanced During Past
TAKE WEEK END PROFITS
Prices Have Advanced During Past Week In a Dull Market But Dealings Seem Largely
 Professional.

New York, July 2s.-Yesterday's revival of speculative animation on the stock eN- change was fully maintained although there was good volume of business, and some striking gains were recorded. The market showed the effect to some extent of the desire to take profits on the week s gains and the principal active stocks were DO. inclined to advance with vigor. The news of the day was unimportant and of no apparent effect upon prices. The net result of the weeks operations on snrpiu. reserves of the banks was small, but this was due to the offsetting effect Of some conditions in individual items. The SIS, 4S0,7 roo expansion in loans was at trlbuted largely to the taking over of loans by the banks from the trust com panies, an operation that always develops when the call loan note offers no greater profit than the rate paid by banks to trust companies on their deposits.
 It is surmised also that the stirring of speculative interest in the stock market has resulted in some increase of borrow ing for that account. The gain in cash of $5,942 TOO was much larger than ex- pectad. and operated to conserve the margin of the surplus. Weekly reports of the mercantile agencies helped to fos- ter the cheerful feeling over the buisness outlook which has grown up in Wall street. feature of the day was the new record price for Delaware, Lacka- wanna and Western at 40. accompanied by rumors of another intended extra divi- dend on that stock The irregular tone of the market continued up to the clos ing.
 Bonds were steady; total sales par value, s1. 1.66o.000.
 Prices have advanced this week in a dull market at first in a creeping and irregular manner, but with gathering force and volume after the middle of the week. The dealings have been attributed to professional sources to large ex- tent, and commission houses have com plained of small business and languid interest on the part of the public at large The abstention from the market of the general public, and the absence of the habitual operators is supposed to be due to the seasonable uncertainty of impor- fant crop outturns during the critical period of their maturity. Current news of conditions of the crops, and of general business conditions, has been good and has encouraged the smaller class of pro- fessional operators who have made UT the market to attempt to inaugurate an advance. Part of the hesitation shown from time to time in the movement, is caused by the consideration of the com paratively high level to which prices have already been lifted by previous operations < undertaken in the confidence of the favor able developments which are now occur ring. This condition of the market is made conspicuous in the action of par {, ticular stocks regarding which important favorable events have been announced.
 The reports current during the pas month most responsible for a feeling oi confidence was the demand for iron and for nearly all lines of finished products leading off with rails. and structural steel has undergone marked revival. The vivi- lying effect of activity and prosperity ir the Iron and steel industry on all other branches of industry is so invariable a rule as to make this showing a consid- eration of great importance in the con- sideration of the promise of the future