Los Angeles herald., 1907-04-06
MONEY IS EASIER
AND PRICES co UP
TREASURY CONTRIBUTIONS
ARE WELCOMED
Professional Operators Take Down
Large Profits at the Close Of
the Day-5onds
Strong
BY Associated Press.

By Associated Press.
NEW YORK, April 5.-Operatlons in
the advance were aggressively pursued in
the stock market today and wide add.
lions were made to yesterdays gains in
prices.
No change in conditions from those of
yesterday were apparent beyond the con-
tinuance of the relaxing tendency In
money. This was in fact, regarded as the
Keynote of the situation and gave the Inn
petus to the movement in stocks.
Commission houses reported general
revival of interest in the market on the
part of the clients of the speculative
class class an element regarded from the
the general public, whose entry into the
market is regarded always as making an
important stage in speculation.
The appearance of this element was
taken advantage of as usual for some
heavy profit taking ON the part Of the
professional element, including board
room traders and those having first ac-
cess to the actual operations OF the mar
ket.
The manner in which this profit taking
again was absorbed proved impressive to
speculative sentiment and was assumed
TO indicate the re-entry into the market
of some of the large financial powers
which have led great speculative move
ments In the past.
The size of individual transactions, the
congestion of the dealings in few spe-
cal stocks and the sensational movements
In such stocks gave this impression OF
tions or individuals possessed of resources
far beyond the ordinary
Viewed with Suspicion
The action of the market under such
forces takes on a more or less artihcial
character and reflects active manipulation
as genuine marketing OF securities, ana
is for that reason viewed with some sus-
picion.
Room operations centered in the Harri-
man Pacifics and in Reading, suggesting
the resumption of market operations BY
forces which have been .quiescent In the
trading for a considerable time.
Southern Pacific shared fully In tha
movement and was regarded as giving the
motive for it in its extraordinary showing
of net earnings for February published
yesterday.
A rebound in the price of copper in Lon
don was responded to by the rise IN ANAL
gamated copper here.
Many otner movements centered around
these or followed their influence. This
made up a market OF variety & ana IRE. ire
being taken advantage of to sell others.
The prospect of a very strong bank state
ment tomorrow was an influence in the
Cause of Gain
The subtreasury has contributed to the
banks since the last statement was COM
piled $12,175,000 and it is believed these
measures brought about the actual gain
in cash for the week. as the movement
from the interior seems to have about
balanced.
The easing of the local money market
has had the effect of checking the flow OF
currency to this center and New York ex-
change at Chicago has fallen back to par:
1t was announced today also that all or
for shipment to this point had been resold
in that market
Another helpful factor in the strength
of the market was the settlement without
a strike of the wage dispute on western
railroads. 1t was significant of the
changed attitude of the speculation that
operating cost to the railroads involved in
the advance in wages granted in the set
tlement.
The large selling to take profits during
the day was skillfully conducted, and the
market closed irregular and considerably
below the best prices.
Bonds were strong. Total sales, par
value, $2,942, 900.
Government bonds were unchanged ON
call.