The Birmingham age-herald., 1908-05-30
STOCKS RECOVER
 PART OF LOSSES Shorts Have Made the Market Somewhat Topheavy HILL STOCKS AGGRESSIVE Receivership of Wabash Terminal Company Had Little Effect Upon the Market, Which Makes
 Good Advance.
HILL STOCKS AGGRESSIVE

New York, May 29-The stock market today was of the usual pre-holiday char acter largely confined, that is, to the closing up of outstanding contracts and showing little disposition to make new commitments The prevailing specula- tive temper on the stock exchange was to be inferred from the fact that most of these outstanding commitments were on the short side of the market. The general hardening of prices during the day was due more to that fact than to any new phase in conditions. The brisk rebound in the Gould issues was inter preted to mean that the shock of the Wabash -Pittsburg embarrassment has been practically absorbed by the market in the downward plunge of the last few days in the group.
 No authoritative announcement was made until after the session of the course to be pursued in the matter of the ip- terest due on Monday on the Wabash Pittsburg firsts but it was taken for granted in the financial district that a reorganization through receivership was in contemplation. The feature of the market was the aggressive strength ot the two Hill railroad stocks. The per sonality of the brokers buying the stock gave the impression of accumulation by the controlling interests induced the trad CTS to follow the movement. The advance in the stocks revived once more the ru- mors of an extra distribution which has appeared previous to each dividend pe- ct Ua I nothing more to confirm it officially this time than before, but the selling of the Burlington bond issue to reimburse the treasury of that company for capital ex- penditures out of earnings implies benefit to the Northern Pacific and Great Northern companies as joint stockholders of the Burlington.
 More gold is expected to go to Ger many next week. Today's statement of the Bank of France shows the rapid growth of bullion holdings which threat ems repletion in supply. There was an easing tendency also in some departments of the Paris money market. Although the bank statement was not published until after the close of the local stock market the undiminished ease of money left no apprehension over the complexion of the showing to be made.
 The sharp break in the grain markets was held to show that the weeks level of prices has been held at an artificial height by sympathy with the corner op- trations of the May delivery There was some very heavy buying of stocks just at the close, especially of United States steel The bank statement showed fully the expected decrease in cash holdings on account of the gold exports and gov ernment withdrawals, but the only trace of the supposed heavy loan expansion on account of the large financial transac- tions put through during the week was the $5,3750O0 loan increase of the trust companies, the clearing house institu- tions showing a decrease of loans both in the averages and in the actual condi- tion
 Bonds were irregular. Total sales, par value, $2,S34,0O0
 United States 2s registered and the Ss have advanced 14 and the As regis tered 1s per cent for the week.