The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-14
SENTIMENT BETTER
IN STOCK MARKET
Execution OF Big Buying Orders
Lift Prices
ORGANIZED SPECULATION
Market Gives First Clear indications
Since Abandonment of Campaign
for Rise In January.
ETAOIN
ORGANIZED SPECULATION

New York, February 13-The stock mar
ket gave the first clear indications of or
ganized speculative OPERATIONS on the long
side of the market since the abandon
ment of the campaign for the rise In
January. The source Of these operations
was not observable, but the fact of the
execution of large individual buying or
ders for various stocks was manifest.
Brokerage houses which usually handled
large accounts were buyers In lots OF
several thousand shares in various impor-
tant stocks. The manner Of executing
these orders did not warrant the assump-
ton that accumulation was the first con-
sideration, and it was evident that the
lifting of prices was a design Is much
as the securing of stock. With this dis
play Of more aggressive leadership in
the speculation, there was an improve
ment in sentiment.
More consideration was given to some of
the hopeful factors in the outlook, while
some of the topics that have given &C.
caslon for a feeling of depression lately
dropped out of consideration. There was
no actual change in conditions, so far as
public knowledge reached to account for
the change in sentiment. Much stress was
laid by the buyers of stocks on the COLI
fidence now felt at Washington that the
moderate measure of currency reform
proposed by the Senate finance committee
will be enacted into law at the present
session of Congress.
Not much effect on money conditions is
expected to result from the proposed
measure, but the professed opinion of
the speculative element is that the de-
termination to take action on the subject
may be regarded as a promise of more
comprehensive steps to follow. 1t was be-
lieved that the offer of the treasury de-
partment to redeem $25,O00,0OO of As Of 1907
at 1917. while not likely to be taken adj
vantage of to the full amount, would
bring out sufficient offerings to provide
for the requirements Of the call for return
of S6,OOO000 of government deposits on Fri
day.
There was a disposition to accept some
of the paragraphs of the Presidents mes
sage on the leasing of mineral lands as
q softening of the rgor of his views to-
wards combinations of capital. This is a
subject that has been much dwelt upon
about the stock exchange ever since the
fall i'm prices came to stop Buying
for London account was an appreciable
factor in the strength of the market. The
progress of the London settlement re-
vealed moderate charges for carrying oPer
Americans into the next account The
foreign attitude towards the American
market seems to be improved by the re-
straint upon the New York demand for
gold in the London market. Various ru-
mors played a part in the day S move
ments The Hill stocks were affected by
confident predictions that the Minnesota
suit to enjoin the issue of Great Northern
stock would result in favor of the conf
pany. The coppers were a feature, and a
wide advance in the price of the metal IN
London helped the speculation. Expecta-
ton Of an increase in the dividend rate
on Anaconda played an important part.
Reports of the settlement of the Pennsyl-
vania disputes also helped that stock.
The market was spotty in its early dis
play of strength. There was freer realiz-
ing also ON the advance. The developing
constantly of new points of strength had
the effect of widening the field of the
rise and increasing confidence. The
strength became fairly comprehensive
during the course of the day, although
the usual profit taking on the consider
able rise for the day affected the final
price,
Bonds were irregular. Total sales, par
value 81 10000.
United states new As, coupon. declined
" per cent on call.