The daily morning journal and courier., 1907-11-19


 engaging in any speculative operations but Amerely buying for cash At the same time they held out inducements for better market as soon as public confidence is fully restored.
 Everything rushed up in the London market before our opening. The news of the government relief plans had a great effect toward restoring foreign # confidence. British consols rose 1-2 of & a point and the leading American rail way shares jumped up to more than points. Union Pacific got as high as # 112. Atchison to 7O7s, New York Cen tral to 97 1-2, Southern Pacific to 67 7-S and Northern Pacific 10 1O7 7-S
 After the first outburst, in which N some stocks were 1 to 4 points higher, or about on level with London, prices gradualy receded. This was nor ||1nal development It was apparent that Financial interests had no desire to fos- Iter rise in stocks at this time but *nerely wanted to keep things quiet. $st. Paul and New York Central were hgain weak spots in the market, sug- gesting that they were under bear pres sure with a view to checking rise in F, prices The volume of business was about the same as last Saturday.
 Discussion of the treasury relief Treasure furnished the principal topic bf diseussion. While banking interests sneans taken to restore confidence, the trading element was not so sanguine, / and was inclined to think that if so sxtreme remedy as the issuing of treasury certificates is necessary, when he government is in such a strong po- ition there must be something rad cally wrong somewhere. But experi- nee has shown that when Wall street cts into doldrums it requires 9 long lme to get it out These pessimist- pally inclined ouenumbered the hope ll by two to one.
 Most of the brokers, including stock xchange members, having open con- acts on the curb in New Haven aven rights to the recently proposed Rw stock. but which was abandoned the company for a debenture bond sue, agreed yesterday to cancel the bntracts for the new stock, when, and if issued.' An occasional per- n thought that if there should ever a new stock issue present contracts ould cover 1t, but this was not the neral view
 London houses sold some Hartman ares at the opening. This was taken
 indicating that stock had been # ught in London on orders from here make good showing abroad. The ndon houses, however bought # rthern Pacific, Great Northern and bel preferred. Jacob Field was @ fge buyer of Smelling, taking up- rd of 5000 shares, sharp & Mont nery sold B. R. T. Tuhn, Edey &
 sold 5000 Reading. Atwood, violett Do. sold New York Central.
 Jhile money was in more abundant ply for all loans, there as a strong on time funds, and rates for com
 cial paper were relaxed. At the
 e time it was felt that easier rates
 the latter would come by degrees. eading Wall street banker was ted as saying that ne thought the
 ley market would become normal
 n within three or four weeks By '1....z time it was felt the heaviest de-
 d for crop moving would be over
 although there may not be a return
 of currency still there should be
 much less pressure for money at
 center.
 gold import engagement of $1,5OO.-
 was announced by the Guaranty
 st company yesterday, and one of
 0,090 by Lazard Freres, bringing
 total of the movement to date to
 2500O Saturdays and yesterdays
 als were S6,SS0,000 so that to date
 O1, 900 gold has arrived from Eu-