The Birmingham age-herald., 1908-09-05
.SL.|GHT ADVANCE >- IN STOCK MARKET G
 Short Sellers Turn Buyers for
 the Holidays MARKET GENERALLY DULL
The Principal Demand In the Buying i Comes From the Shorts and a Com paratiVely Active Week e Ends With Prices Firm.
e4 York, September 1.-The stock

eV York, September 1.-The stock rket was affected as usual by the tninence of a three-day holiday. Deal -..gs were confined largely to the closing Up of contracts by the traders who are aveIse to the risk of a long period in which stocks cannot be dealt in, while some sudden event might change the speculative situation. It became mani fest. that in the decline of yesterday traders had operated with some freedom on the short side of the market. The hemand which advanced prices today was attributed to covering operations from that source. Not only the stock ex- changes, but the commercial exchanges 'enerally are to be closed in this country
 morrow as an extension of the Labor l., \ holiday on Monday. The days dull n5ss was the result Foreign markets gave evidence of a subsistence of the un- easness caused by the Moroccan stua- ton Preliminary estimates of the weeks currency movement indicated a falling off in shipments to New York. but not sufficient to turn the tide of the move- ment in favor of the interior. Reports froalt Chicago confirm the lightness of the demand for funds from interior banks The large surplus held by the New Yod banks gave the subject little in- teH4lt from the banking viewpoint. More, attShtion will be given to the loan item
 ,morrows bank statement
 ne weeks speculation has not been
 tive enough to involve any great loan
 panson, but banks have been reported large buyers of bonds as a means of employment of funds. Holdings of securl- eTds of this class figure in the loan item in the form of a statement made up by the clearing house. The sluggish demand from the interior for currency tends rather to confirm doubts of the rate of buiiness recovery. There was a similar deduction drawn from the returns of . budding operations in August made up " Bradstreets. which indicate loss
 an the aggregate expenditures for that pose in July and also a much higher
 yoportionate loss from August of last
 Ar than was reported either in July
 June The falling off was especially large in New York. Reports were cur rent of some large coming orders for new steel cars by railroad companies, but tae railroad equipment stocks were heavy in spite of the general strength of the market.
 The commodities market was dull and featureless, under the influence of the approaching holiday, and no important deductions were drawn from them of the progress of the movement. The week S receipts of wheat showed a notable ex- pansion, rising to $5,396,O26 bushels, com pared with 4,525,5O3 last week, and only 2923, ITO in this week last year. There was a considerable demand for foreign exchange, nevertheless, which gave early firmness to that market. Copper warrants declined in London without affecting the recovery in the prices of copper indus trials. The United States Steel stocks showed strength only when it became known that J. P. Morgan had come to his office for the first time after his return from abroad yesterday. This gave a late upward impetus to prices.
 Bonds were active and firm. Total sales, par value, $5,26O,0O0.
 United States bonds were unchanged on call for the week.