Los Angeles herald., 1906-11-15
Rv Associated Press.

by ASSOCldleu l0ItSS.
NEW YORl>, Nov. 14.-The stock mar
ket made a prompt response today to
the easier tone of the call money mar
,ket and was an advance IN all depart
mentS on dealings which took On at
times and in certain stocks considerable
degree of animation.
The revived strength and activity of
the market was disring gutiShed by re-
neWal of many dormant rumorS regard
ing the properties OF which the STOCKS
transactions on the stocks rather than In
consistency of some OF these suggested
they represented SurmiSeS on the part
OF the moor operators to account for the
transactions on the stocks rather than in
formed statements. 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 for the ac-
count of some of the great capitalists or
groups of capitalists tine occasional cam
paigns of whom form an aggressive and
effective leadership, which is followed
with confidence by many of the smaller
operators. The same influences were due
largely to the identity of the brokers en-
ployed to execute some of the large Or
ders in some of the most important stocks
a,ientiy ane 3or I the sotcaiied a. large lar interests
OF course the business of such houses
is not restricted to, the execution OF Or
of orders with them for effect on senti-
ment is frequent device of the large
traders.
The remarkable movement in st. Paul
owed much of it's large following to the
conviction on the part of traders that
some of the large concentrated business
lists of the first rate resources and fire.
uuently active in the market. The ru-
mors which accompanied the movement
have been heard many times before. An
1a1 off Of Ct1h
to, stockholders on new stock to provide
for the Pacific coast extension, alternated
with the passage of control of property
to Southern Pacific, or OF Southern "a
cific to St Paul, as the favorite with
the speculative following
The completion of the stock market
settlement in London was without trouble
and with less pressure LIQUIDATION on
New York was expected evidently by
some bear accounts and there was con-
siderable buying for London account mere
Sterling. exchange at Paris fell back
from Yesterdays high point. but still
ruled high. The remittances In progress
from Paris to London are reported 70
he on account of an installment of sub
scriptions to the Pennsylvania loan issue
in Paris and their remittance TO Lonoon
evidently operated to satisty 60 ueliianeS ,ai,aned
the tension in the money market mere,
although private discounts rose above the
bank rate at London.
Money on call loaned at maximum or
per cent compared with IA per cent
Yesterday and 20 per cent on Monday, and
the rate had fallen to six per cent and
below at an hour when active i've, operations
Rates for time loans were firmly
maintained for the shorter periods: but
money brokers reported additional funds
ofYering for six months. Loans Tor ac-
count of western banks and resulting In
The excitement in st, Paul spread to
the other Pacihcs and the supposition
grew on the floor that st. Paul was to
be brought into the general operations of
the Hartman combination.
The market closed animated and buoy
ant,
Bonds were firm.
Total sales, par value, $1,624,000.
United States bonds were firm, un-
changed.