Evening star., 1907-09-03
Prices Opened Well Above Last
q Fridays Closing.
ACTIVE ISSUES ADVANCED
Movement Accompanied by Increased
Business Volume
AMERICANS FIRM IN LONDON
No Recurrence Of Liquidation Upon
Noticeable Scale-U. p. and Read
ing Led in Transactions.

Special Dispatch to The Star.
NEW YORK September 3.-The stock
market at large this morning opened well
above the closing quotations of last Friday.
and after brief period of reaction prac-
tlcally all of the active issues advanced
from one to two points and over. American
Smelling distinguished itself by rise of
more than five points. The markets upward
tendency was accompanied by a marked in
crease of volume of business and a very
fair diversifcation of interest was appar
ent.
There was very little to be deduced from
the mornings situation from the devel-
opment with the course of the business ses-
sion in direct explanation of the noted char
acteristics of the dealings. In fact. the
trading began this morning under prac
tlcaily the same auspices which prevailed at
the close of business on Friday.
Americans Firm in London.
American stocks ruled firm in the London
market over the holidays at New York. and
this mornings quotations showed them
quoted FOR the most part above parity with
last weeks final local figures. Operations
here for foreign account showed on balance
an axcess of purchases In the neighborhood
of 10000 shares.
Observers of the trading concurred in
stating that the actual influences in the
course of prices were identical with those
which were similarly effective during the
greater part OF last week There was no re-
currence of liquidation upon a noticeable
scale. investment buying OF small and
round lots continued and these circurn-
stances were sufficient of themselves to
cause the rank and file of the professional
trading element to espouse the bull side of
the account.
There was also naturally further cover
ing or short contracts. but it is commonly
believed that the commitments of bearish-
~ disposed operators have been greatly re-
duced through the course of the market
WlthIn the past ten days.
Technical Reasons for Rise.
So far as particular stocks were con-
cerned. there was disposition to assign
any other than general and technical ex-
pianauons to even the more extensive
movements In the more cheerful state of
speculative temper. which was mainly at
tributabe to the recovery in prices of itself
there was a little more discussion of such
prosalc circumstances as earning capacity,
etc. ana talk of this sort was heard in
American Smelling
oa the other hand. the further decline In
nigh grade copper metal to Is cents a pound
did not -preeynt Anna Igana ted Copper. from
Saarnls Ina w IaLy IN the tendencies of the mar
ket at large. The United States steel
STOCKS also moved up commensurateIy and
further improvement took place in the
local traction group. with considerable ac-
tVity in Brooklyn Rapid Transit
Railway Leaders Active.
As was to be expected in view OF the
general character of the days dealings
Union Pacific and Reading furnished a
large proportion of the total transactions
In the railway list
Inc so-calied Hill stocks. including the
Great Nnrtharp Orr
strong and active. New York Central was
In no wise affected by closer approach of
the Observation-Disclosures period, and it's
strenGth today naturally led to revision
OF the views which have been SO conf
Hentiy expressed of late that there would
De an adjustment in the rate to be fixed
upon the stock ~
among the matters referred to in a gen.
erai way as effective in the strength OF the
general market were the postponements of
Ime proceedings In the Standard OIL and
Shicaso and Alton cases. Money market
ana Foreign exchange circumstances showed
no essential alterations ~N