The Birmingham age-herald., 1908-04-12
PRICES OF STOCKS
 ADVANCE SHARPLY Professionals Bull the Market
 for Their Own Gain nllISllERS ARE REARlSH
OUTSIDERS ARE BEARISH
While Many Important Stocks Advanoe Llquidation Occurs In Others and Prices Fail To Make
 Headway.
BY THOMAS c. sHoTWELL.


 New York, April (Special.)-- Under the leadership of specialties the stock market advanced furiously for two hours today and left off about where it began. The local traction shares, New York Air Brake. Ameri- can Ice, Cast Iron Pipe and Nickel Plate went materially higher. But the steel shares, Union Pacific, Reading, St. Paul and Amalgamated staggered under the weight of liquidation. The selling of stocks Is being done so openly and sincerely that professional Wall street refuses to see the truth and insists upon buying more eager ly. The spectators are all bullish and the insiders are all conservatiyelE bearish That Is all there Is to the stock market just now. It remains to be seen whether the hundreds of smalt traders can take the market away from the million share people.
 One incident of refreshin ing charac- ter today was the announcement that a syndicate of American bankers has purchased and exercised an option for 100000 shares of Goldfeld Consoll- dated stock which French bankers hold. This deal brings out the fact that the Goldfeld Consolidated has been proved to a depth of 600 feet and found richer the peeder the work ings have gone.
 That mine now has $40000 900 of orc actually in sight With the Florence, which adjoins working in a six-inch streak at the 625-foot level, running s75,000 to the ton, and with the Daisy, four miles away, working in $20O ore at 210 feet, the Goldfield camp must be admitted to be the greatest ever known in the world.
 It does not matter at what cost this gold is extracted. The right thing for investors to remember is that Gold field alone is going to increase the worlds supply of the yellow metal at least $1O0, 0,O00 900 in the next three years, all by itself. The new camp of Rawhide is coming forward. All per sons who are not blinded by prejudice HOW admit that the panic of 1907 was due to the enormous output of gold be- ing temporarily checked.
 With the settlement of labor trou- Hes, expiration of leases and options in important camps, and with the at tention of the whole world attracted tc the gold mines, there promises to be such material increase in the pro ductfon of gold in the immediate future es to start business booming every where
 The total number of shares of stocks sold today was 7,412, against 68O,S05 the
 1.-. l.. of bondos sold today was $2500,O00, against $l l.035,O00 the same day last year.
 The board of governors of the consoi- dated stock exchange have voted to close the exchange on Good Friday and Easter Saturday, the days on which all other exchanges will be closed.
 The Journal of Commerce says that con- tracts have been placed for the shipment of 15,O00 tons of pig iron from Mobile, Ala, and Pensacola, Fla. to Genoa, Italy.
 Stockholders of the Delaware and Hud- son company have been called to meet on May 12 to authorize a bond issue of s50,00O,000 of which it is purposed to put out $20,000OO0 in the near future.
 The purposed issue of bonds will be secured by first mortgage on the com pany's unincumbered property. The is- sue of the s2OO00,000 will not provide funds for any additional improvement now in contemplation. It was stated that about s, 100000 will be required later on for inn provements.
 There was little feature to the stock markets abroad today. Paris was quiet while Berlin was weaker on realizing. London was dull and irregular with cop per shares and Americans the heavy fea- tures
 The regular weekly reviews of business conditions by the mercantile agencies were rather indifferent. For the week the country's bank clearings were So.2 per