Los Angeles herald., 1908-04-25
NEW YORK STOCK
AND BOND MARKET
Rx Associated Press.

By Associated fress'
NEW YORK, April a.-A further substantial
rise in prices occurred in the stock market
today and the volume of business at the Same
time expanded materially. Most of this was
achieved in the first half of the day. the sales
at noon rising TO nearly half million shares
which is well above the daily average Of total
sales for some time past.
There was some lul in the latter part OF
the market, both in the volume Of activity ana
in the rate of the advance. The failure OF an
important stock exchange house announced q.
th, outset of the trading offered no INTERRUPT
ton to the advance, and In fact furtnereo IT,
owing TO the large outstanding short contracts
which remained to be recovered Tor account ol
,be failed house which has been noted for Its
esnousst of the bear side of the market ior
many months past.
The number of shares bought TO-DAY Ior ap
count of the failed firm were sald 10 aiiVu 10 =
In many thousands and the suspension was
pronounced the most important Dear iaiio'e
that has occurred for years. l., r,rt- :
This was an immediate influence III pio'nps
tho heavy covering of shorts contracts IN o'her
quarters and the driving in OF the pears oe.
came a prominent factor in the day > @ auS 80 80
of nrices Some of the heaviest -coVerlns Nos
A.. tIfnited states Steel, but the stock was
beid hack during all the early part OF lhe So
sjor, and rose fractionany over ias' '"e"
only late in the day ,,,oa 10 nm
MANY reports continue to be receiVeu oi un
favorable conditions in the IRON alr isn
trades. Of cutting of iron prices ana oi 9tn,,aa
ine orders for steel The rise IN 'ne ,,set
States steel stocks, though small was sun. ~
Gent to establish them at new hen ,e oon. ,n
tbe wear. Union Pacific continued tho son .ona
spieuous leader in the advance anu a,so as other
ta a new high level. NUMBER OF o'nea .Ia -
,,on,inent stocks approached or enceeueu e,,s
i,igh nrces of March, which We're tne I1o Ioto
hioh prices for the year. The luil III VIZ a.
,oarket came with the pupnca'lo The
fnracasts of the weeks cash chahsesc ooo nno
,sa of an accession of between No'VoVoYVV
a s7 ooo 600 In the reserve of the panks nus s
a. aotored in connection with the week oU'
,yo ~ gold which ran to $5,5Oo'Vu' ,,.,oo
rate of retirement from active ctouia ,' - @
- From, banking uses In the interior suo '',i ~
., d,sciosed by these figures gives 1orh.,ud 1o.s,',.
evidence OF the shrinkage OF pusniess ,.sor mon
The showing put momeh'ars ioter ad-
49, sneculatiye enthusiasm. Prices later ~
inc p asain and closed generally near ths
highest discussion Of the PennsytNaa a. a,,once
is,e ms oortinued very active and It's Hnue"''
I ~ stocl market was still felt ,,.a
1,n.h interest was shown In the price ie" -
NC railroad company on the sae, a "a
ts attnn w 10 bankers and expenses h,ln
,an deducted Nothing oHlcial ~ e~o ar
IaS p.en on This subject. but reports Were ~
rSnt indicating that suos.ail'iaa u eaoonted bv
- ~ ~ isauinr price had been accepteu Ds
run .oads No additional gold exports W. W.,
a',arnced ~. and foreign subscription o.,,at
y,Ss,,iyania loan affected the toreisn , , ss .
, en' ,,,ara strong; total sales, par Value' ",
1oc 200 Government bonds were uhcnAnseN VS.
call.