The Washington herald., 1907-12-01
SHARP MOVE UPWARD
Gain Of Five Points in Final
Prices for Railroads.
ADVANCE is MADE IN A WEEK
Union Pacific and Reading Go Up
Nine and Ten Points without "A
single Recession - Demand for
Bonds One of Pleasant Features
of Saturdays Trading.

New York, Nov. 30.-The recovering
movement in stocks went on to-day ut
pace only a little less lively than that
which has been maintained during the
three preceding stock exchange sessions,
although perhaps to-day the buying was
concentrated t. greater extent than it
recently has been in the leaders of the
market the Union Pacific and Reading
shares.
The days final prices were with one or
two exceptions. the highest witnessed
since the rebound began. and were such
as to place the average quotation of the
standard railway stocks at level nearly
FIVE and one-half points higher than that
made at the close Of the market on Mon
day. This advance has been accomplished
without any intervening recessiOns what
ever, and the suggestion is, of course,
natural that 1t may be that the rise has
been little too vigorously conducted.
Big Advance Scored.
In the case Of the Union Pacific and
Reading shares an advance considerably
greater than this average rise has been
recorded. Union Pacific at the close Of
the market to-day had rallied nine points
and Reading ten points, without a reac-
ton OF a single point, and there Is very
little doubt that the particular move
ments in these two stocks has been due
10 a beating in of the short interest in
the stocks which has. as is usual under
such circumstances, discovered to be
larger than was commonly estimated.
\ strong sign that the market has per
manently changed for the better lies in
the current action Of the bond market
particularly in certain Junior issues that
have been 50 extraordinarily depressed.
Transactions in bonds yesterday were the
largest of the year. and dealings in this
class OF securities to-day were relatively
in even larger volume.
AtehisOn shows Weakness.
The stock whose backwardness in the
market to-day excited especial comment
was Atchison common, but the hesitation
shown here was undoubtedly due to the
publication during the day Of the Atchi-
sons statement Of earnings for October,
showing a gross increase in revenue Cor
the month OF $4,000 and A net decrease
of Sl290,000. The Missouri Pacifics Sep
tember statement exhibited a gross IN
crease of $550QO0 and "a net decrease OF
Sl5IOO0.
Aside from the publication OF these
statements, the only other news or the
day of financial Importance was that con-
tained in the weekly bank return. whose
figures became known too late To affect
the market They showed for the first
time in several weeks a reduction. even
if slight, in the existing deficit in the
bank surplus reserve. The deficit was
decreased $1.118.175, and as the loans OF
the clearinghouse institutions increased
in round numbers SIC. 600 900 and cash hold
ings 100000, the percentage of the bank
reserve rose from its last weeks figure
of 200 TO col per cent.
il Is now felt. and with good reason
that the storm and stress Of recent fnan-
cial disturbances has passed and that 2
period Of convalescence in the security
market has begun.