The Washington herald., 1908-01-16
STOCK PRICES FIXED
StrOngFinancial FOrceSH Hold
High Advances.
SALES QUICKLY REBOUGHT
moHiDuiatOrS Who Figured that The
Market Was TOpheavy Find Them
selves Mistaken in the Closing
Hours-BFOokIyn Rapid Transit and
Reading Common Go Up.

New York Jan 15.-The strong nnan.
cial forces that have recently taken the
stock market under their charge were
content to-day TO rest upon their sue
cess in steadily advancing prices during
the last three days, and We're satisfied
, with holding the market firm during a
series of distributlve and proft-taking
sales, which were more visible than at
any time.
Pressure upon the market of this char
aeter caused fractional declines in Quota
uons IN the early trading. which. how
ever, IN the active stocks were hardly
more In each instance than half point.
Ihen, after a period Of great dullness.
the market strengthened in the after
noon under the leadership of one prom
inent stock.
Ihe market went through to-day, in a
general way. much the same process that
1T has for a considerable time past; that is
10 say, manipulation efforts TO hold il
strong and to cause an advance in Ger
tain quarters were relatively easily ac-
copied in view Of the almost sensational
improvement in the money situation and
IN the quickness with which spectators
Tor the decline nowadays are induced to
buy in their contracts for the fall when
they find that the market does not evinee
mat weakness which they expected when
they made their bargains.
On every day this week thus far opera-
tors OF this class have usually I'm the
morning hours Of business sold stocks
with comparative freedom on the ground
thaI the market had become topbeaz-y.
mat the upward movement has been too
rapidly conducted. and SO they have been
u.iaD-e TO lower prices, and have in the
siSeIAoon OF the day IN which they sold
SUCKS bought them back again.
Sales Not Heavy.
Sales Of this kind have not been heavy
and have been for the most part made
IN tentative attempts to discover whether
me top prices Of the present movement
nave been reached; but they have hean
large enough, nevertheless. TO make the
daily covering" Of stocks necessitate5
by them sufficient to give a strong adj
oluonai Impulse to the advance thar ts
being carried on.
IL could not be said that there were
any more signs to-day than there have
Deeh' that the rise in prices had cul-
minated. The market seemed under
strong and efficient control. ana There
Were few if any developments on tbe
news calculated to shake the confidence
OF buyers.
while net declines were more common
than net advances at the close Of busi-
ness tney We're generally small. and their
effect was more than counterbalsnced Inv
a net rise Of nearly three points In the
.Ileaolng common shares and BY a vieor-
Gus upward movement in BROOKLYN RAND
Transit stock, The final prices OF several
prominent stocks, like PENNSYLVANIA and
Union Pacific, remained unchanged from
those Of yesterday.
me Amalgamated COpper. shares .u-nra
perhaps heavier than most OF the others
because of doubt as 70 the character or
the action likely to be taken Tomorrow
by the directors OF the company in the
matter Of the company's quarterly divi-
dend. U-'
Money rates again worked easier To-
day for use both on call and on fine
Bank renewals Of call loans were made
at per cent, the lowest figure touched
WITHIN SIX months on general transactions
OF ms nature, while the large banking
institutions commonly reported If difBcuIT
70 put out money on time on good COL
lateral at as low a figure as 81 Der. cent