Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-11-28
NEW YORK STOCK
AND BOND MARKET

NEW YORK Nov. 27.-Theedeorease in the
activity of the market for stocks today indi-
Gated the lapse into professional hands OF
most of the dealings and the subsiding gem
eral interest on the part Of the money interest
The price movement on a diminished scale
of activity Indicated q growth of confidence
on the part of the professionals in the sta
bility of prices. Stocks which were SOLD out
on the owe of the Thanksgiving holiday on the
chance of unfavorable developments in the
interval, were repurchased today.
The renewed uneasness over the situation
in the Balkans, which causing deep de-
preston in foreign centers when dealings be-
gan mere. was without influence in checking
the advancing tendency, There was no 1mpor-
tant selling pressure, and this opened the way
to the success of the efforts Of the room
traders to lift prices along with their absorp-
tion of stocks. No important news developed
explaining the buying.
The expected financial plan for Southern
Pacific continued to play important part in
the motives of the professional buying, but no
progress was made in any authentic knowledge
of what is the plan or Of the actual existence
of such plan at ALL
Another motive for some Of the notable
movements the expectation of decisions in
pending cases by the supreme court at WASH
ington Monday. This was the avowed, explana-
ton Of the wide advance in the Consolidated
Gas shares, the contest Of that company
against the S0-cent gas law being In the hands
Of the court for decision.
The coalers are expected to be benefited by
the expected decision of the court in the case
agreed upon to test the commodities clause Of
the Hepburn law.
Another advance in the price of copper at
the metal exchange, and the London market
dissipated the impression that the market price
of the metal was declining owing to a falling
off in the demand.
Reports of large prospective orders for
structural steel material and for steel rails
had stimulating effect the shares of
industrial corporations connected with the iron
and steel trade.
Some of the individual advances were based
on special causes, rumors of intended divi-
dend increases figuring in or two cases.
Indicated declines for the week in the COM
pany holdings In the banks, of approximately
50, 900, Geo. seemed to be viewed with equanim-
demand for funds has affected this result
transfers having been made to San Francisco
for deposit with the subtreasury.
The Bank of France made a strong return
and there a shading in discount rate
there.
The Bank of England authorities refrained
from raising the minimum discount rate in
spite of a considerable decline in the pro-
portion of assets to liabilities resort having
been made to the credits of the institution
during the week.
An advance in the discount rate had been
looked for the open market discount rate, in
consequence fell back TO some extent. Here
the condition of the money market was not
appreciaby changed, the six months period
however, showing a slightly lower interest
rate The foreign exchange market firm
but rates were not quotably changed.
The most active trading of the day occurred
just at the last and prices were then rising
vigorously.
Bonds were irregular. Total sales par value
Sc, 100000 United States bonds unchanged on
call,