The Birmingham age-herald., 1906-11-15
RESPONSE MADE ID EASIER MONEY TONE Certain Stocks Show Consider able Degree of Animation MANY RUM0RS AFL0AT Money on Gall Loans at Maximum of 3 Per cent-Rates for Time
 Loans Are Fairly
 Maintained.
MANY RUMORS AFL0AT

New York, November 1.-The stock market made a prompt response today to the easier tone of the call money mar ket with an advance in all departments on dealings which took on, at times. and in certain stocks, considerable degree of animation The revived strength and activity of the market was distln- guished by a renewal of many dormant rumors regarding the properties of which the stocks led the movement. The va riety and inconsistency of some of those suggested were reported surmises on the part of floor operators to account for transactions in the stocks This left the way open to a wide range of conjectures as to the identity of the interests which were operating on this large scale
 Purely speculative operations by stock market pools were Suspected in some cases while in others brokers on the floor of the stock exchange professed to see evidence of operations of the account of some of the great capitalists or groups of capitalists, the occasional combina- tions forming an aggressive and effective leadership which is followed with confi- dence by many of the smaller operators. These influences were due largely to the identity of the brokers employed to ex ecute some of the large orders in some of the most prominent stocks and who are credited with acting frequently for the so-called large interests. Of course the business of such houses is not restricted to the execution of orders for any single client and the placing of orders with them for effect on sentiment is a ire quent device of the large traders.
 The remarkable movement in St. Paul owed much of it's interest following the conviction on the part of traders that some of the large concentrated business fin the stock was for account of cap- talists of first rate resources and ire quently active in the market. The ru- mors which accompanied the movement have been heard many times before An early intended offer of subscription to stockholders of new stock to provide means for the Pacific coast extensions. alternated with the passing of the con- trol of the property to Southern Pacific or of Southern Pacific to St. Paul. were the fayortes with the speculative fol- lowing The completion of the stock markets loan in London without trouble and with less pressure of liquidation on New York than was expected, evidently left some bear accounts uncovered, and there was considerable buying for Lon don account here today.
 Sterling exchange at Paris fell back from yesterdays high point but still ruled high.
 The remtttances in progress from Paris to Lonena arc reported to be on ac- count ef ar irstallment of subscriptions to the pennsvlvania loan. issued in Paris, and their remittance to London evidently operated 10 satisfy demands on New York at that point and so relieved the tension in the money market here, al- though present discounts rose above the bank rate at London.
 Money on call loaned at a maximum of per cent. Compared with II per cent yesterday and 20 per cent on Monday, the rate had fallen 10 per cent. and below, at an hour wS.-. active operations were fairly maintained for the shorter periods, but money brokers reported additional funds offering for six months. loans for account of western banks and a resulting easier tone.
 The movement of New York exchange at interior points in the west also marked the turning of the tide in currency move ment in favor of New York. The excite ment in St. Paul spread to the other Paci6cs and the supposltion grew on the floor that St. Paul was to be brought into the general options of the Hartman