Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-29
Holiday Interval Brought No
Change in the Market.
BANK RATE IS UNCHANGED
Foreign Market Continued Firm and
r Steady.
CASH RESERVES ARE GROWING
General Tendency Of the List Was
Upward-Pressure' Against ~
Some Specialties.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. November 29.-Nothing Of
much importance was contained in the
occurrences over the holiday or developed
with the course Of today's business ses-
sion upon the stock exchange.
The Bank of Englend's rate of discount
was left unchanged yesterday at Z, per
cent, but the bank made a very strong
weekly showing. reporting an advance In
its proportion Of reserves to liabilities
from So 70 per cent last week to 1888 per
cent. viii it's bullion holdings increased
nearly E2.Oo0.ooO. American stocks were
firm In the London market yesterday and
continued steady today. Operations here
for foreign account consisted of, the puF-
chase Of about 1900 shares.
The preliminary estimates of the
principal movements in currency dur
ing the week indicated a gain by the
banks of cash to the extent OF about
S3.5O0.o0O. Provided the loan account
in tomorrow's bank statement shews a
continuation of the tendencies set forth
last week, the banks should be able
to report a fairly large gain in re-
serves. The premium on currency con-
tinued. but ruled during the greater
part of the day under / per cent. Money
on call opened at 51a per cent, the low
est figure to be established Tor that
period that has been quoted In weeks.
but the average figures in that market
were somewhat higher than that rate.
Railroads Look Up.
Transa otions in the days stock mar
ket in point of activity ruled well up
ward toward recent levels. The tone
Of the market was, for the most part,
strong, although in the early part of
the day there were very sharp de-
clines In Missouri Pacific and Western
Union, while New York Central, Penn
sylvania and several other active shares
reflected quite marked pressure. Great
er or less recoveries were scored In
all these stocks with the course OF the
business session. The special weakness
of Missouri Pacific and Western Union
was unaccompanied by any other COS
with regard to the forthcoming divl~
dends to be declared upon both stocks
next month.
Throughout the day Union Pacific and
Reading were exceptionally strong, but
there was nothing in either case apart
from technical market circumstances to
he adduced in direct explanation OF their
animation. The customary annual extra
dividend of 10 per cent was declared upon
Delaware. Lackawana anu Western and
the passage OF the dividend on the stocks
of several mining companies was an
nounced. The United States Steel shares
were 4fni throughout, ana AmalgamaLed
Copper and American Smelling recovered
from an early 1t OF weakness.
Bond Market Strong.
The bond market was active and de-
cidedly strong. a circumstance which
might be mentioned as among the most
encouraging features Of tue situation at
large. 1t was probably true that the ap-
preaching meeting Of Congress. coupled
with the publication Of the President s
annual message to that body, served to
restrict active trading to some extent, al
though there appeared to be less than the
usual antieipatory interest in that docu-
ment.