The Birmingham age-herald., 1907-11-09
STOCK MARKET
 IS MORE ACTIVE Railroad Stocks Show Strength
 In Advances PRICES RESPOND TO BUYING Call Money Market Is. Easier As the Arrivals of Gold continue-sub-
 stantal Gains Made In
 All Leading Stocks.
PRICES RESPOND TO BUYING

New York, November S.--There was a more pronounced stirring of speculative activity in the stock market today than at any period since the recent period of disturbance set in. The fact was associated in the current conjectures over the origin of these operations in the neighborhood of the Stock Exchange With the recent return from vacation trips abroad of some of the large market operators who dropped out of the deal ings completely several months ago. The manifest pressure to convert into ready resources some large holdings of the United States Steel sinking fund bonds and the fact that the transfer of con trol of the Tennessee Coal. Iron and Railroad company to the United States Steel corporation had made large hold ings of these bonds available to the most prominent of the former speculative oper- ators gave plausibility to the supposition as to the identity of the person buy ing.
 The market was found responsive to the dealings and reflected the same con dltion of scarcity of offerings which has been the negative evidence of returning confidence for several days past. The banks continue their attitude of disfavor towards large speculative operations, but the manifest signs of a resumption of operations on margin of a considerable scale indicated that this obstacle had been overcome in some manner The con- spicuous buying was concentrated on a limited number of stocks but the up- ward movement was fairly comprehen- sive, although uneven. The great trunk line railroad stocks, both east and west, were the favorites, especially Union Pa cihc Pennsylvania and Reading, and the leading industrial stocks including the United States Steel stocks, Amalgamated Copper and American Smelling.
 The call money market was, in fact appreciably easier and there were con spicuous additions to the lenders on call at the Stock Exchange,t including banking and trust companies which have been distinguished for their abstention from this form of lending for many days past. Estimates of the weeks cash fngs, as usually made up preliminary to the bank statement. were exceedingly confused and necessarily so in view of the fact that some of the banks with held the usual information on which these estimates are based.
 The movement to the interior has con tinued heavy, as was to be expected but the amount shipped by express and through the sub-treasury on balance ap- pears to be somewhat less than last week. All allowance must be made, however for the short week caused by the cleo tion holiday this week in judging of the bearing of this fact on the presumable subsistence of the rush of funds to the interior Today's gold arrivals of over Sl2000,0 900 do not figure in the estimates which include only Thursdays opera tions but they will figure for one days average in the bank statement and will that far affect the apparent decrease in bank cash of about $12O00,0oO Ar rivals of gold have operated to reduce loans which were contracted to engage the gold and should operate to reduce that item in the bank statement The prospect, it will thus be seen does not hold out a promise of very substantial