Los Angeles herald., 1907-11-14
PRICES SEEK
FAIR LEVEL
WALL STREET OPERATIONS ARE
QUIET
FlNANclERs SEEK TO AVOID
FEvERIsHNEss
Period Of Comparative Non-Activity
Would B. Welcome at This
Time-GoId Brings Good
Premium
BY Associated Pres.

BY Associated PRESS
NEW YORK. Nov. IA check was made
upon the downward movement of prices TO-DAY:
The rebound was narrower than the downward
reaction yesterday and the market became letn-
argic in the latter stages.
This narrowing Of the swing of price move
ment is usually the sign of its apt condition
OF more or less stable equilibrium. which drifts
with feeble fluctuations until getting a new
initiative from some fresh development OF the
situation.
Such period of quletude would be welcomed
at the present by all the most important In
terests concerned in the market. A tentative
resumption OF buying operations or margin on
Monday was deemed by the banking and hnan-
cinl leaders TO be badly timed. and the dis
oouragement of those operations left the way
open to Yesterdays reaction.
There was evidence early today that the pro-
tessional operators were disposed to take adj
vantage of the neglected condition OF the mar
ret to undertake bear tactics Means seem to
have been found also to place obstacles in the
way Of these attempts which have proved
cffectual
The purpose OF these various measures evil
IDENTIFY is TO keep the stock market quiet ana
free from excitement and feverishness while
the task of ending the outside financial furry
is pursued
The urgency Of the demands for currency
continued today, largely from out-of-town
sources The special urgency at this time is
attributed partly to the necessity of meeting
lnid-monthly pay rolls The bidding OF premi-
ums for gold still. to arrive indicates, however,
were reported today of high as 1ss per cent
for the gold to arrive on the steamship Maui
ietana, which will not be here for ten days.
Premiums paid today for currency ranged up
10 az per cent. This currency situation made
II matter of course that keen demand
should persist for gold for shipment to New
York, and all engagements made today were
large, bringing the total engagements to well
$50 0OO. 900, The consignment of over
ssi000,000 which arrived today made little i'm
preston the currency premium and was ap-
psrently disposed of in advance of the arrival.
The situation gave occasion to renewal of
iumors, heard several times recently, of nego-
iiations for IMPORT for large sum of gold
from Paris direct. but no countenance for this
could be had aricng foreign exchange houses,
except as lthere might be likely to be further
shipments from Paris to London to relieve that
market from the effects of the drain to the
United States.
In this connection there great deal Of
feeling expressed demand, said to have
leen received from Paris banking institutions.
for gold in redemption of its holdings of Penn
sylvania notes which matured on November l.,
coupled with an order for the sale of the gold
at the premium being paid for currency.
Copper stocks met some effective support to-
day, but the general list sagged again, after a
recovery. Some anxiety felt late in the
day lest the Bank of England should make
another advance in the official discount rate
tomorrow. -@,'
Bonds were irregular. Total sales. par value.
S5.91s. 900.
United States honds were unchanged on cali.