The daily morning journal and courier., 1907-12-07
LATE FEATURES OF
 THE STOCK MARKET Prices Irregular, But Undertone
 Firm. LARGE PROFIT TAKING More Gold to Come-Better Bank Statement To-day
 Probable.


Probable.
 The stock market, though irregular ye1terday, maintained a strong under tone.
 The opening was soft, influenced n part by the closing of Pittspurg bank, news of which was received pe- fore business began, but the offerings were well absorbed and later on there was an irregular advance. Evidence 1 however. existed that large profit tax ing was going on, and .his resuiteo n 1 prices easing from the hest figures m ] the late afternoon.
 Until . last honr trading, the mark ct gave another exhibition of strength, with periods of heavy buying, charae- terized by sharp advances. This move ment WIS largely confined to the group of active shares that have been used so effectively as market leaders" since the rise. in prices began ! | 4
 Sentiment was helped by the fore casts of q strong bank statement the preliminary cash showing being ex- ltremely favorable. The sharp falling off in the net drain to the interor. which took from this center less than 1000, 000-about half the withdrawz al of week ago-indicates genuine relief
 Money that has been hoarded is gradually returning to circulation, both money hoarded by interior banks and by individuals. Much cash with drawn from savings banks has been redeposited and this good work will increase now, and will hasten cash payments py the New York banks again.
 The returns as to the known move- 1nent of money this week showed a gain by the banks estimated at $5, GOO ,0OO to $6,000, 900. There was a, loss by the banks to the interior be- cause of the direct express movement of $2,750, 900, but gain from the sub-treasury of $S,000,00O, which was supplemented by $750,000 gold inn ported from Europe.
 Speculative opinion as to the contin- uation of tho upward movement was exceedingly mixad early. Old-time brokers, however, said that to them 1t seemed very plain that some sort of a 4bullish campaign had been instituted. It was reported that John w. Gates is again in the market on the bull side and that James R. Keene and Jacob Field have been working with him in the boosting of prices,
 James J. Hills recent prediction of increased earnings for the Great North ern during the month of November was confirmed in the statement published yesterday, showing a gain of $994, ,042 in gross. The company makes no report on monthly net
 The bears began to fear a trap in Amalgamated Copper when it got over 50. A fresh lead of "blue talk" regard ing metal trade conditions has lately been dumped into the financial district, and it has again been fashionable to sell Amalgamstl ' short.
 feature of the days trading in Wall street was a further rise of 20 points in Standard Oil stock. It went to 460 by early tn the afternoon, with none offered under 40. This amounted to total advance of SO per cent since last Saturday, adding $6OOOO 900 to the market value of the total capital of about $100000000 Another movement on the curb was rise of 5 points in American Tobacco common to 255 It sold as low as 175 several weeks ago.
 At least. one well-known trade au- thority, Walker, of Boston, does not take a pessimistic view of the metal outlook, which he characterized to-day as decidedly brighter He said that the buying demand for copper is con- ing from almost every quarter of the globe.
 Considerable activity developed in some of the lower priced bond issues. Interborough-Me Metropolitan 41ks were a feature, advancing about 4 points on heavy transactions Brooklyn Rapid Transit 4s were also strong. The more hopeful view in regard to the two companies were probably responsible for the high range of prices. Rock Island is also advanced somewhat fur ther, and the trading as a whole was spread out over wide range of bond a issues.
 Swift & Co stock sold up to SS and Sg -12 yesterday in Chicago; Diamond Match to III and 112.
 New Haven railroad stock sold un to 142 yesterday; the rights were IS. The movement of the currency pre- nlium was westward, with some trans actions as low as 5-S per cent The q closing was about S-4 per cent. The demand was very light. Early in the day per cent. excess was paid During the dull period in the second hour it was noticeable that very few stocks came out the market holding firm and some issues advancing on # light volume of business. The way the market acted was construed by close observers as excellent