The daily morning journal and courier., 1907-03-30
YESTERDAY,s STOCK MARKET.
Animation and Strength q surprise.

Animation and Strength a Surprise.
 New York, March 29.-The amima- tion and strength of the stock market to-day was surprise in view of the experiment of keeping the stock eX- change open on Good Friday, contrary to the usual custom. It was expected that operations would be little more than nominal, as the keeping open of the exchange was largely a concession to the bankers to avoid the necessity of making loans on Thursday to carry over until Monday. There was a small attendance of brokers when the mar ket opened aind reports from commis sion houses complained that customers were almost entirely lacking. As the Lndon stock exchange was also closed no business was supplied from that source. All appearances indicated that the majority of members had taken advantage of the opportunity to get holiday after the eXacting eXpe- riences of the recent market. When the activity began to show signs Of re- viVal observers were sceptical and pro- fesed the conviction that room traders operations were giving an artificial appearance to the maret, Neverthe less a substantial days business was recorded and the price movement was dclded and comprehensive So rapid an advance in prices fails to bring conviction of an investment character to the demand or of an important new speculation for an advance, after so prolonged and persistent a period of weakness as the market has gone through. The needs of a still uncoy- cred short interest are given large re- sponsibility for such a movement The days news offered all material for 1 speculation outside of the pronounced l improvement in the banking situation indicated by the preliminary figures Of | the weeks currency movement.
 Mostly as a result of the treasury s relef measures, the banks seem to have gained upwards of $12,000,000 of cash reserves during the week. The l regular express movement with the in- l terior has, moreover, yielded a small gain on balance, indicating the current of the movement in favor of thls cen- 1 ter. The premium on New York ex- change at Chicago has risen to 5C l cents, Indicating the course of remit tances from that cit to New York From this Is infcryred a probable re- turn flow of currency from the interior after the turn of the month. Tho lmoney market was little affected bS preparations for the Monday settle. Iments, although call loans were quoted
 at yesterdays renewal rates. The eX-
 pectation was general that to-mor
 row bank statement would be {
 strong one, and as the stock exchange will be closed tomorrow. operator! Iacted on the conviction that Monday.
 the bank statement. The other domi nant influence was the interentlon O
 the national authorities to bring abou arbitration of the labor difference which threaten to bring about strlk
 amongst employees of western railr
 oads. The widest movements of tn
 day were In the Hill and Harrimai
 stocks and Canadian Pacific, Canadl
 n Pacific gave signs of a distressed
 short interest.
 Active bonds were firm but snal
 blocks of some inactive issue wer marketed at wide concessions Tota
 sales par value $1940000
 United States bonds were unchange
 on call.
 Bonds for the week have show
 some belated effect of the movement o liquidation in the stock market.
 United States bonds were uachange
 on call during the week.