The Birmingham age-herald., 1908-03-22
STOCKS ADVANCE
 WITHOUT EFFORT Shorts Continue to Cover Their
 Holdings In a Hurry NEW HIGH RECORDS MADE Union Pacific Goes Up Higher Than For Weeks, While Steel Stocks
 Register Entirely New Fig
 ures on the Board.
NEW HIGH RECORDS MADE
BY THOMAS c. sHoTwELL.

New York, March -(SpecNl )-Forced purchases of stocks by the short interest caused further advance in the stock market this morning. Activity was main- tained up to the close, although the final prices were somewhat under the best of the day About all the active issues showed net gains. Steel made new high record for the year. Union Pacific sold at the highest price in a week. All sugar stocks were strong. Lead made another sharp advance, and Shelters touched a new high figure. Even though the last prices were called down, there was fl n undertone to the market and the clos gave every indication that the advance would be continued on Mon day.
 Several firms claim to have the Presi- dents message, but as he had not fin ished writing at 12 o'clock today. these forecasts were not terrifying. The mes sage is not expected Nbefore Monday.
 The bank statement was very favorable, but had little influence because money has ceased to be any argument in Wall street.
 The copper trust has renewed its old fight against the metal exchange. It will be remembered that a year ago when the trust was attempting to deceive the public in regard to the price of copper the metal exchange insisted on giving the true quotations. The trust has had its lobby at work many months trying to get the law of supply and demand repealed, but finding itself unable to do so, 1t is ba 1n1a of the metal exchange it may estab- fish an exchange of it's own for the pur- pose of manufacturing quotations.
 On the curb there has been activity this week in Nevada stocks. Many re- quests have been made for the truth" regarding Nevada mining shares The truth is, that the representative Nevada copper stocks such as those of the Ely camp and the gold stocks, such as those of Goldfield, which are traded in on the New York curb every day are really safer investments than railroad stocks just now. Fortunately there is no trouble in getting correct information regarding min ing shares. There are times when the public should be warned away from all mining investments, but this is not one
 
 now is the railroad stocks that are being manipulated to higher levels just previ- ous to a dividend reduction that has been decided upon.
 The New York stock exchange is in no position to throw stones at the curb, un- til it chops off that bucket shop wire and purlfies it's unlisted department.
 The total number of shares of stock a fn S29,26S the same day last year. The total par value of bonds sold today was S1,S200O0 against $1,1OO,000 the same day a year ago.
 Insiders are buying Anaconda copper. They say it is cheap.
 P R. Jennings has been nominated for president of the New York metal ex- change to succeed Col. Robert M. Hemp son. .tN There was little feature today to the stock markets abroad. Paris and Berlin were firm and dull. Americans in Lon- don made good early gains, but with later irregularities. Russian bonds and Rio tintos were also higher. The weekly reviews of business conditions by the mercantile agencies were conserVatlVely optimistic. Distribution of goods Is in larger volume and demand is steadily inn proving, although both are well below a fui and the good crop outlook is factor in this. One unfavorable feature Is the 1ateness of fall trade. Bank clearings show a decrease for the week Of 27.2 per cent from a year ago.
 United States bonds closed unchanged. 1be general market was active and moder- ately strong.
 Bonds.
 IT. S. refunding 2s, registered. .103A IT. S, refunding 2s, coupon 41a .. -~~i.tered .1O1 e. conuou .,........10 .101 U, S. new As, registered .........ISO4 U. s. new As, coupon. lS< 1a Louis. & Nash. unified As ......... Sos s""thern Hallway 5s ......... S6s4
 lAoney on Call.
 New York, March 21.-Money on call