The daily morning journal and courier., 1907-11-12

Prices Advance, Due to. Better
 Feeling.
 MORE GOLD IS ENGAGED Some Engagements Cancelled
 lGold Enough-Can
 Money Lower.
 The stock market advanced yester- day owing to increased confidence ana . better understanding of the banking position.
 The withholding of bank statements Saturdays until the market closes works well, as misapprehensions are thereby avoided.
 The new plan affords ample time TOT careful consideration of the bank statement figures, which often, be- cause of the system of averages, indi- cate a much worse condition or aralrs than actually exists.
 Last weeks statement failed to fully reflect the heavy arrivals of gold from Europe the latter part of the week. The stock market yesterday opened strong. and further advances were made in the early dealings. Then the market quieted, with tendency to ease from the highest figures. In the last few minutes prices stiffened up again.
 Although London sold some 12,OOO shares in this market yesterday, for eign interests were reported as more favorably disposed toward our securi- ties, and, through regular banking channels are said to be buying good many standard bonds and stocks. Yes terday's selling was probably specula- ftive, as an offset to purchases made in London before the local opening. 
 A number of gold cancellations were lannounced by several local bankers who have been importing the metal. Their opinion is that the amount of Fgold already secured is sufficient, at least for the present, and that there is more danger in alarming Europe be- cause of our pressing her to give up Iod odHftiano1 Af Tho to1 Ehny advantages that can be gained. With a revival of margin business in Stocks the market was buoyant all the morning, and early in the afternoon : was holding It's own very well. Some ssues at that time were to points Rhigher Ease in money and confirma- ion of the reports that various gold Engagements for import had been can elled, helped sentiment materially. It vas regarded as proving beyond ques- ! ion that the worst Is over
 Traders thought they saw a deter nined effort to put up Union Pacific, with no distribution showing in it, and hey were willing to follow.
 Tn the curb market, New Haven 6 per ent. debentures, when issued" sold ! t 11O. Consolidated Steamship 4 per ent. bonds rallied sharply, with sales 10 IA. They were down below 8 last 7 eek.
 Trading in stocks during most of the ternoon was very quiet, with an in- ination on the part of spectators to ke profits, resulting in general re- i fssions There was no particular eaning to any of the market move ents of the day.
 Rutter & Gross bought some Amal- mated Copper as well as United ates Steel. While the buying of this m is generally classed as Standard l buying the floor traders do not y as much attention to it nowadays
 they used to. Standard OH does not W appear to be a name to couture tn.
 0cllhlllS 1AAlOAObb WGI6 UdTklIlR ne" on the monetary situation, and tified brokers that all they could be for was a variable movement in bcks without any material expan- n in loans. At the same time they yored slowly creeping upward bvement, based on the general idea Rt after so severe a decline a con- erable recovery was in order.
 Mestre, the specialist, was the gest buyer of Reading in the fore bn. A number of the traders, who ve been selling the stock short
 lnged their attitude, thinking that
 buying looked strong.
 here was a disposition to attach im-
 tance to advices from Washington
 It steps are undar way to modify the
 ti-Trust law so as to exempt rail-
 ds and to permit combinations, with
 1ors that President Roosevelt favor | this. Statembnts also that he woul
 lify his message and would recom- z nd remedial measures which would
 the financial situation, also has a
 d effect on sentiment.
 New Haven stock was offered
 y below Al 1~2, 10 points above the sale, and Webb & Prall, who had
 e buying orders to execute, bid as
 as 1SS 1-2 without being able to Se trade. It was thought on the
 that some New Haven stock had
 sold short in anticipation of the
 on of the directors last Saturday
 n they decided to issue debenture le. Ia. .1 nnh nnn