Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-12-10
NEW YORK STOCK
AND BOND MARKET

NEW YORK, Dec. 9.-There was extra
ordinary variety in the issues dealt in on
the stock exchange today and very little
news to account for the newly revived inter-
est in them. transactions were made in a
large number Of securities that have not
appeared the tape before in months past
and only few times in the years actHl-
ties.
Others which customarily occupy n place
in the BACKGROUND were rushed forward 10
the conspicuous forefront of the market,
The consequence very large number OF
different securities of which safes were Hlau9
and some sensational price changes when
compared with preceding quotations. Ihere
was a corresponding retreat into compare
tive obscurity of many of the stocks when
have furnished the staple for speculative
activity for many months,
In some respects such market may be
accepted as a reflection of a broadening
tendency in the interest feIt' me MAJ
grade standard stocks which are the more
representative of general conditions are al
ways first to move in a speculative advance,
and it is not unusual for the large grades
less representative to be brought INTO au-
justment to the rise in a belated movement
BY the time this process has reached ooWn
to the dregs of the market ana mas stlrreu
up a movement in stocks OF Whlcn any
value is problematical the inference Is Drawn
by the practiced market operator that
movement is approaching its elimination
There were appearances to suggest such
conclusion In todays market, but there was
less readiness to accept 1t owing 10 the
number of times of late when such signs
have failed. Today's market, In tact was
remarkably free from pressure or from nos
tile attempts to reverse the prevailing ten
dency in spite of the admittedly suspicious
appearance of the movement. There was
fairly effective demonstration in the Iunk
line group including the coalers during the
day. This was the only noticeable exceP-
tion to the predominance OF the low sFaue
stocks in the days dealings. -
Some Importance was attached 10 inc
renort of truce in the Illinois Manufac-
turers' associations fight against the pro
nosal to increase railroad freight rates ana
IL was inferred that such an advance Woulu
be accomplished in the early future
There was a rumor that early congress
sionai action was in prospect looking TO the
abrogation of the commodities clause OF Inc
Hepburn law Resumption of rumors OF an
active share in directing the aHairs OF Nc"
York Central by q. II. Hartman was an III
Auence on this group. Otherwise the ma
+arIai Of the speculation extended an extra
ordinary series of vague and unNerlneu
rumors affecting several properties. me
advance in the Western Union dividend was
a factor A good impression was MADE also
nv the increase in the revenues or TINS cor
poration owing to their accepted reliablllty
as an index of general business conultlols
Allowance had to be made, however Tor the
cnmparison with the period last year wheh
revenues were still affected by the STRIKE
discount rates advanced at all the principal
foreign centers and foreign exchange rates
here rose strongly to near the gold export
level. ,... 40.
while the closing tone of the market was
irregular from selling to take prohts, must
OF the days advances were maintained
Bonds were firm. Total Sales par Value
S76soOO0. United States coupons As de-
clined " per cent on call.