Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-14
Another Advance in Prices
Marked Today's Dealings.
VERY ACTIVE MANIPULATION
London Strong, With Further Rise
in Rio Tintos.
SHARP RISE IN ANAL. COPPER
Traction Shares Steady-Interest
Mainly Converged on the
Railway List.
VERY ACTIVE MANIPULATION
SHARP RISE IN ANAL. COPPER
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK May 14-After noting the
fact that prices advanced still further in
today's stock market. there was very little
otherwise to record bearing uron the day
transactions. The advance was fairly uni
form and was participated In by all quar-
tiers of the market with very few eX-
ceptions. There was no change whatever
in the general character of the dealings.
Active manipulation was palpable in all
directions. but. as has been the case here
tofore. it encountered little liquidation ex-
cept the occasional offerings of those in
terests which. according to common re-
pert. are directing the course of stock
market affairs.
The London stock market was generally
strong. with a further extensive rise in
Rio Tintos.
According to competent local authority.
there is no betterment whatever in the
ues general disposition to take It for
granted that pronounced betterment is
near at hand. even in the absence of any
indications to that effect.
Rise in Copper Shares.
Views of this nature were apparently
responsible for the sharp rise in Amalga-
mated Copper in today's stock market.
but large number of the other Industrial
and miscellaneous issues made equal or
greater gains. Conspicuous features In
that department were Allis-Chalmers.
American Smelling. Distillers' Securities.
National Lead. the Republic Iron and
Steel shares. Sloss-Sheffeld. Pacific Mail
and Western Union. The last-named
ion. and its course could hardly be ac-
counted for otherwise than representing
the precipitate retreat of considerable
short interest.
The traction shares were steady. but
displayed little activity aside from Brook
Ign Rapid Transit
Active interests in the market con-
verged after all, however. upon the rail-
way share list. Following upon the ex-
tensive advances of the past few weeks
further gains of one and two points were
by no means uncommon in that depart
ment, with scarcely any news or gossip
to be adduced in explanation of the price
movements noted. Reading WIS excep-
tionally strong and active, and in that in
stance a report was current that the COM
pany had obtained control of the Western
Maryland railroad. but no reasons were
proffered why that acquisition should be
reckoned as a stimulating factor on the
stock.
Advance Of Low-Price Railways
A number of the lower-priced railway
being Lake Erie and Western, Mexican
Central. ST. Louis and San Francisco Sec
ond preferred. Colorado Southern and
Kansas and Texas. The Rock Island is
sues were somewhat reactionary. Not
withstanding the magnitude of the trans
actions and the extent of the maximum
advances. little edifying discussion at
tended the transactions In the railway
list.
Today's figures of the transactions be-
tween the banks and the subtreasury
showed a loss in cash by the former since
last Friday of more than $S.6OOOOO, oc-
casioned principally by the exports OF gold
and the return of government deposits.
The banks are still gaining on the gen.
eral domestic movements in currency. but
it is questionable whether in Saturday 8
bank statement they will be able to re-
port an offsetting balance on that account.
especially as the gold exports were con-
Quoted so early In the week
AT the same time these transactions in
the money market found no reflection
whatever in the rates at which loans for
various periods could be effected.