New-York tribune., 1907-04-05
'Uniisted.
Closing prices of active bonds dealt in. with
STOCK MARKET OPERATIONS.

Advances in stock quotations yesterday In
the leading active issues ran to an extent that
suggested uneasiness the part OF the short
interest rather than an active public inquiry
for securities for speculative account The
market opened strong..in spite of lower prices
abroad. and throughout the greater part of the
five hours OF business the tendency was in the
direction Of a higher level, with the largest
gains in the Hartman and Hill shares Anal
gamated Copper. Reading, Pennsylvania. Ana
conda. Baltimore & Ohio. Canadian Pacific and
American Smelling. In these stocks buying
orders from interests closely identified with the
properties represented were in evidence, and
this, together with the ease in the money mar
ket and the absence Of selling by commission
houses. induced active purchases by traders. in
the course Of which many stop orders for:short
accounts were uncovered The short interest
is not as extensive as it was a few weeks ago,
but there is still fair sized account outstand-
ing. and it is upon this that much OF the i'm
Provement from the low prices of the year has
been based. Such situation does not fore
shadow sustained advance. but advocates Of
higher prices believe that the public is be-
coming more interested in the market and
that with the elimination OF the short interest
there viii be enough outside buying to carry
quotations to a higher level St Paul was
bought by brokers who represent the Standard
OIL following: also Amalgamated Copper and
Anaconda, the two last named issues showing
none Of the nervousness that accompanied the
dealings in the preceding day, when the mar
ket for the coppers was upset. owing to the
speculative decline in the price of the metal
a1r Gle
best prices in the last hour the general range
Of values at the close showed substantial gains
over Wednesdays final market The Erie's
note issue on a basis netting per cent caused
some bear talk after the close OF business
Washington dispatches intimating that certain
corporation interests are anxious TO bring about
the defeat OF the administrations policies affect
Ing government regulation OF railroads and other
corporations in the next Congress doubtless will
serve TO prevent the carrying out Of any such
programme IL intended. The country at large
believes in these policies. especially in view of
the disclosures OF mismanagement and loot that
have attended the investigation OF certain cor
porations in the last two years. and efforts TO
attract an active public demand for securities
on the theory that fight against President
Roosevelt Will increase the safety of American
investment issues are founded on a poor concep-
ton OF the intelligence and business sagacity OF
the American people It Is true the public has
slept at times and has closed its eyes 20 the
pernicious practices OF ''high finance" but Just
ar present the public IS extremely alert and has
no intention OF permitting the side tracking Of
legislation that is proposed In the interest of
the great army Of public holders of investment
securities campaign against laws that are
to be made for the protection OF honest business
methods-laws that involve fairness 20 produc-
ers and consumers allke-yyfil meet the fate
OF the Chicago radicals who have Just been
showed under iR the municipal contest IN the
big Western metropolis. This IS not the age for
extremists in politics for the "old fashioned
methods" OF private graft in high places among
our corporations. and &c would be particularly
unsafe In this era OF corporate refom for any
man or combination Of men 20 work 70 brine,
about the old order OF things which have been
responsible in great part for the recent results
IN the securities markets. The administration is
not against corporations, and every holder OF
corporation shares in the country ought to well
come the policies which ere being formulated
Tor presentation 20 Congress for a government
supervision that VIII insure che faithful per-
fornance by corporations Of tho purposes for
which they are created
There is nothing under way that Will upsst the
intrinsic worth OF securities as far as adrnlnis-
tration Policies are concerned ana that ihis view