The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-11-17
ST. PAUL IS STILL
LEADER IN STOCKS
Standard Oil Interests Are
Heavy Buyers in Market
TRADING Is DIVERSIFIED
Decrease In Dealings Was In Those
Stocks Congested On Thursday
Which Gave the Market an
Unnatural Appearance.

New York, November 16.-The specu.
iative movement today was more diversi-
fled than yesterday, although the aggre-
gate sales for the day did not exceed
those of yesterday. The decrease was in
those stocks in which dealings were con-
gested yesterday to a degree that gave
the market an unnatural appearance.
The faYorite stocks in yesterdays spec
ulation were under more or less pressure
today in a process of profs-taking. St
Paul still held a leading place in the
movement but 1t was irregular and
yielded sharply at the outset under Of
ferings to realize. 1t came up afterwar1
and Reading also made a new start to
higher level. Lack of consistency caused
a general comment upon the market
Stocks here and there would start up
ward suddenly with nothing to explain
the movement. The traders were con-
WINGED quite generally that important OPP
eratlons were going on and that the X
ing out of far-reaching financial projects
were in view. They sought eagerly to
get in the current of movements with
out further knowledge of what they
might mean. The houses which expected
the large orders gave color to SUPPOSE
lions as to the identity of the buyers
Western speculative commission houses
were crowded with very large operations
In the market. The Standard Oil party was
supposed to be accommodating stocks not
withstanding the continued iieavy fall Of
that stock III the curb market and the
sensational attention given to the gov
ernments suit against the company.
A reported hasty return to this city of
President Hill of the Great Northern
was made ground for rumors OF import
ant impending developments affecting mis-
properties. Reading was the subject of
revived ,rumors of a coming Increased
dividend rate. The Ultimate explanation
heard for the rise in Amalga mated Copper
was that 1t might be expected as a stand
ard Oil favorite to follow the movement
of st. Paul. The chief days trading was
fairly indicated by the kind OF factors
that are thus seen to have figured in
the trading.
Money continued to work easier. Only
small changes are Indicated in the case
of holding of the banks of the week, as
result of currency movement, but a large
cutting down of the loan is expected 10
be shown in consequence OF free lendin,,
here for account of interior banks The
tone of the money market precludes any
uouDl dDOul lne reserves having been re-
stored to the legal % per cent limit or
above it, The banks report a definite shift
ing of the course of the currency move
ment in favor of New York, the sam on
balance on the express movement -hei.g
an the neighborhood of q. million dollars
above or below. The absorption by the
sub-treasury was sufficient to leave the
gain by the banks small. The turn in the
movement towards New York was of
large sentimental effect further gains
an the furture are thus indicated. A re-
sumption of interior demand during De-
cember is not unusual, however. The IT,
regular tone of the latter market when
proft-taking had become quite general
was broken in upon by the buoyant jump
In the Hill stocks, and the. market closed
generally strong under this influence
Bonds were firm. Total sales par value.
H116,oo0. United States old 4s declined Il
per cent on call