Los Angeles herald., 1907-11-28
WALL STREET
STILL WARY
OPERATORS DECLINE TO FOLLOW
SURE TIPS
Money Is Easier In New York and
Flnanciers Expect a Speedy
Return to Normal
Conditions
BY Associated Press.

1y ASSOClateu GreSs.
NEW YORK, Nov. 27.-rhe stock market
displayed a spirit of caution in following up
the advancing tendencies which developed yes
terday
The speculation showed disposition to balk
at some of the efforts at stimulation in the
way of tips and assertions OF comins las
orable developments regarding lhulViuusi ts;- p.VR :
critics which were found impossible OF VerlIl,
cation. These efforts centered largely arouiu
the Reading stocks and had to do IN the on oi,e
case of rumors OF an establishment OIL CO, COZ uiai u,
relations between the Hartman and Hill M N
terests, and in the other with plan Tor m
yestn1ent of ownership of coal properties, whicn
would include distribution of shares III d
holding capital to Reading stockholders. ,
The shyness manifested by the proiesslon,,'i
element In following this attempted leadership
due in part to the suspicion tiiat SUI
selling to realize was perceptioie on ,s, .ne ~
vance in the prices Confidence continued 10
grow In the progress of amelioration from uay
TO day. Some OF the separate items 70 'nat ei.u
today were the reports from Chlcaso ,. sax,iIss
banks that they had sent notices 10 oeposl.o,s .s ,
waving the privilege of the sixty day limit
for Withdrawals, and the news that as..n1 laX ooa
lections in New York were being ahticipate"
atty for delinquency does not begin uhtli De .'eo
cenber l. Evidences multiplied TO-DAY OIL tiio @
easing of the money strain. me , nlsn ,',ss aares
for call loans per cent Oniy siilal su s
of currency were sold at a premium today anu
the premium rate showed deciueuiy siciu
ing tendency. "a .ho IN
There was a relaxation in some OIL tHe ~
ferior markets in rates of exchange In new
York. which marks a subsistence OF one OF ,he
most embarrassing features of the late crisis
,The tension in the foundation exchanse MAJ
ket also relaxed and the marked ease IN wy u,
London discount market reflected the grown
of confidence there in the passing Oh ouf
financial crisis The fall in the private dis-
count rate in London was "A distinctly laNol =
able factor and gave rise to expectations % %
a reduction in the official rate OF the Bank ol
England tomorrow. ...,o,. II,
In the securities market tho improvement III III
the bond market was much more pronounceo
tbon In the stock market. This movement Is
believed to be of excellent authority ana nas
been looked forward to with longing as heceS
sary to an effective recovery IN ,he ,9oh ssoon
market The profound prostration INTO winch
the bond market had fallen is illustrated IN q
range of quotations for many railroad mort =
pakes of the first class, especially those y.
Concentrations or refunding since the iaSe
ncriod of depression after 1898, which are tiie
lowest in their history. a.. 5,
Tbe rise In bonds today was the first uls
tinct and comprehensive movement OF the sup
mort which has been continued through re-
rewed nauidation appearing in some stochs %
notably Missouri Pacific, but the market W lul ~
atrong before the close Another auVaice III
the nrice of copper metal was a helpIul iac-
tor in this direction. 49, ,,ol,,e
49, $50, 600. .orood ~, caIl