Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-30
First Genuine Rally in Three
Weeks.
THE IMPROVED ASPECTS
Trading Naturally Displayed Feverish
Tendencies.
SALES FOR HIGH-PRICED STOCKS
Renewed Liquidation Marked Opening
but Selling Was Offset by Support
ing orders-London Firm.
,ALEs FOR HIGH-PRICED STOCKS

Special Dispatch to he Star.
NEW YORK April 90-Today's stock
market enjoyed the most general, extensive
and best-sustained rally that has been ex-
perienced In nearly three weeks 1t was
only natural that the trading should sun
display very feverish tendencies, and, as
was to be expected. the lettering tendencies
were marked by frequent reactions. but 1t
was none the less true that a decided altera-
ton was apparent in the mechanical aspects
OF the market.
Thus II was possible to dispose of today
large amounts OF stocks. particularly of the
higher-priced issues. for which there was
last week. in the language of the street,
practically no market at all
In the early dealings there was renewed
liquidation in considerable volume, but FOR
the first time since previous to the San
Francisco disaster the selling of this de-
ecription was more than counterDaiahceu
by effective supporting orders.
Foreign banking houses were likewise
large buyers again in the local dealings
taking upward OF $4,000 shares OF stock,
and the alteration In the technical aspects
OF the market caused these purchases to
carry much more weight than they did in
last weeks dealings.
1t goes without saying that the change in>
tho internal aspects of the dealings was
not overlooked by the short interest, and
II was Undoubtedly the case that purchases
for that speculative faction contributed no
little TO the extensive advances which were
shown in the days market.
Dealings on Large Scale.
The dealings were maintained upon
large scale. and reflected wide d.stribu-
ton of interest. Previous to the settle
ment at the stock exchange clearing house
there appeared to be no little uneasness in
that regard. but no trouble whatever was
experienced nor was there any indication
of any. and after the first hour of business
fha yhxl autS lat pxa sod
animation.
There was little or nothing in this morn
ing's news of the days developments which
might be cited as accounting directly for
the markets course. Little alteration ap-
peared in any phases of the money. market.
money on call being, II anything, somewhat
more active. although number of bank
expressed the opinion that there would
be witnessed ere long a substantial relaxa-
ton in the rates for loans on time.
There were further large transfers of cur
rency to San Francisco and the banks
showed loss to the subtreasury since the
opening of, the clearing house week up to
this morning OF nearly 81 700. coo.
Sterling exchange rates were a shade
harder, but reports were current that ne
gotiations for large amounts of gold were
under way at London and Paris The opin-
ion was expressed today in quarters COM
petent to speak with authority that this
country would not only retain the whole
amount of gold already obtained from El-
rope. but would have no difficulty In the
autumn in arranging for fresh supplies of
the metal to the extent that may be nee
essary in connection with the then pre-
yailing conditions in the money market.