The Birmingham age-herald., 1908-08-29
GAINS ARE MADE
 IN STOCK MARKET Continued BuIiiShneSS Is Mani
 fest In the Trading NEW HIGH RECORDS MADE Railroad and Industrial Shares Are Aided In the Upturn and It Appears
 That Short Interests Have
 Been Eliminated.
NEW HIGH RECORDS MADE

New York, August 2S.-There was an- other upbidding of the prices on the stock exchange today, interspersed with ire. quent periods of profit taking. The days business was fairly large, but again the bulk of the trading was in half a dozen issues-Reading, the Harrimans, Smelling, the Steel shares and Amalgamated Cop per. Some new theories and conjectures were advanced to account for the rise in Southern Pacific, which made another new high record, but they were given no en- couragement in official circles. Obviously the large short interests, which existed early in the week, have been put to rout, If not completely eliminated. Some con- mission houses reported a slight revival of public interest, but 1t may safely be said that only a. small part of today's operations came from that element.
 Conservative interests were quoted as deprecating this latest outburst of en- thusiasm, while admitting that general conditions, including the cheapness of money, make such a move comparatively easy. The increased demand for bonds a conspicuous feature of the last few days has done much to restore confi- dence in the market, and a broader and more general inquiry for high-class issues is confidently predicted. Crop advices at hand today were in line with the en- couraging news of early in the week, but latest advices from the flooded districts in the south fully confirm previous dispatches telling of very heavy damage to growing cotton and serious losses in various in- dustrial and mercantile lines. The po- litical situation seems to have been thor oughly submerged In the excitement of the week, and no attention seems to be given to next Tuesdays election in Yer mont.
 Pittsburg reports increased confidence in steel and iron interests. and the recent course of the steel stocks and kindred securities suggest an all-round better feeling in that industry. The stock mar ket became dull in the afternoon, but not until demonstration in Reading had carried the stock up 1A points. The buy Ing came from interests previously iden- tlhed with bull movements in that stock and was attended by rumors of favor able developments in the property short
 
 ture was Consolidated Gas, which ad- yanced over points on moderately large purchases.
 The total result of the day was hardly satisfactory, some of the more substantial early gains being changed to losses before the close, which was heavy Further large shipments of gold coin to Canada Were made today, the aggregate for the week already exceeding $3,00O OOO, with in- dleatlons of continuance of the move ment. From banking sources interested In the movement it was learned that these shipments are being made for London.
 London bought very moderately here and a rise in copper metal here was re- nected in the better tone of the conner stocks abroad The most interesting rail- road return of the day was that of Atchi son for July, wherein a heavy decrease ln gross earnings was converted into a. net gain.
 The publication of this statement was followed by rise in the stock and in- creased activity in the convertible bonds Missouri Pacific rendered its report for the fiscal year. showing a net decrease on operating revenue of almost $3. 600. GOO but like Atchison, its June statement showed a net increase.
 Bonds closed steady after some loss of thelr early strength. Total sales, par value, $5,440O00.
 Government bonds were unchanged on call. '