Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-13
Advance in the Market Due to
the AIdrich Report.
THINK IT WILL PASS
Enactment May Go Far Toward
Making Money Mart Steady.
TRACTION STOCKS VERY DULL
Business on q Very Largely Increased
Volume Over Yesterday in
the Forenoon.
TRACTION STOCKS VERY DULL

Special Dispatch to The Star.
NEW YORK, February 13.-The general
and at times quite buoyant advance In to-
days stock market was plainly attributable
TO the favorable report yesterday afternoon
of the Senate committee on finance on the
so-called Aldrtch bill. This bni is really
an amendment of another measure which
passed the House previously. so that even
II 1t is accepted by the Senate 1t will have
to pass through the conference stage sue
cessfuly in order that there should be any
prospect Of its enactment at this session Of
Congress.
Private dispatches from Washington were.
however, quite unanimous in agreeing that
the finance committees bill would pass the
Senate in short order. and that the chances
were extremely favorable for its accept
ance by the House and consequent enact
ment.
The main features of the bill provide for
the raising of the limit of retirement Of
national bank notes from $3OOOUOO a
month. as at present. to $10,COO,OJO or S15.-
OO0.OO0 also to authorize the printing Of
small denominations of gold certificates,
and further and most important of all, to
permit the Secretary of the Treasury to
deposit the governments receipts from Gus
toms In the national banks, as may now be
done with the Internal revenues.
May Help Market.
1t was che general opinion in financial
ciIcies that the enactment of such a meas
pre will go far toward maintaining the
money market upon a more stable basis,
and that with this much accomplished
more comprehensive schemes for currency
retorm might well be allowed to rest in
allegiance.
There was little further information
available as to the extent to which holders
of the government 4 per cent bonds, ma
Turing this year, are availing themselves
OF Secretary Shaw's offer of Monday to
purchase those securities at 101k. For
the time being however. this feature Of
the situation was overshadowed by the
progress made by the Aldrich bill which,
indeed. constituted practically the con-
trolling influence in the days dealings. At
the same time operations here for foreign
account played a larger part in the days
market than has been the case for many
weeks.
The London stock market was very firm
In all departments Yesterday and prices
advanced there further today. Copper
stocks were exceptionally strong, and very
extensive advances took place in London
in the quotations for copper metal. Oper-
atoms here for foreign account resulted
in the purchase of upward of $1,000 shares,
this buying being about equally distributed
between the railway list, United States
steel and the copper stocks. Both Anal
gamated copper and Anaconda mining were
dealt in. upon very large scale, and the
last-named advanced to a new high-record
figure.
Steel Common Firm.
There was little beyond a repetition of
the various rumors which were current on
Monday to account for the animation in
these stocks. and the reports In question
were no more definitely suhstantiated than
they were then. United States Steel COM
mon was firm and active, while the pre-
ferred stock moved within small limits. All
of the so-called railway equipment shares
made extensive advances. notably in the
Instance OF American locomotive.
The traction stocks were comparatively
dull There were few exceptions in the
railway list to the general rising tendency,
although the Gould stocks showed occa-
sional pressure and were relatively in
active.
There was very extensive advances made
by Great Northern preferred and Northern
Pacific. Other strong features In this quar-
ter were New York Central, Pennsylvania.
st. Paul Canadian Pacific, Reading and the
pther anthracite coal shares and Union and
Southern Pacific. Actual developments OF
novelty. except of purely routine char
Rcter, were entirely wanting.