Evening star., 1909-05-13
RETURN OF INTEREST
Renewal of Active Speculation
Feature of the Day.
OPENING WAS IRREGULAR
Steadier Tone Developed When Up
ward Movement Began.
LITTLE ALTERATION IN MONEY
Reading, Rock Island, Union and
Southern Pacific Conspicuous.
Other Notable Advances.
OPENING WAS IRREGULAR
LITTLE ALTERATION IN MONEY
Special Dispatch to The Star.

NEW YORK, May 13.-Notwithstanding
certain degree of irregularity, the tone
of today's stock market might be de-
scribed as distinctly firm, and. further
more, there was evident return of active
speculative interest to the stocks which
have been so long conspicuous in the up
ward movement. The last-named circum-
stance did not. however, serve to prevent
considerable activity in large number OF
the so-calIed specialties, both in the rail-
way share list and in the industrial and
miscellaneous issues. Outside develop
ments Of great Importance bearing upon
the market at large for particular stocks
were quite missing.
The grain market again moved irregu-
larly, and very heavy rains were reported
In those sections of the west which have
hitherto been suffering from insufficient
precipitation of moisture.
Money market and foreign exchange
conditions showed little alteration, al
though In the latter there were indications
that further exports of gold to various
destinations may be reckoned on within a
few days.
The figures of the transactions between
the banks and the subtreasury during the
week set forth such a small balance that
the final showing of Saturdays bank
stdtciHcHts SO Idr as lEc CASH item lS con-
cerned, will be determined entirely by the
gold export movement and the direct
transactions In cash with the interior.
Early Trading Irregular.
Developments relating to particular
stocks were as meager as those bearing
upon the situation at large. At the
opening OF business the trading was
plainly swayed by the irregular tenden-
"a xsrbt
days business session. and a consider
able time elapsed before any more than
fractional and irregular changes in
prices were noted from yesterdays final
figures. With the course Of the morning
generally steadfer tone developed. and
a number Of stocks advanced with suffi-
cient rapidity as to impart steadier
tone to the transactions in general.
In the railway share list the conspicu-
Gus features were Reading. the Rock
Island stocks. Union and Southern Pa
cifc. the Southern railway shares, and.
az was to be expected the other anthra-
cite coal stocks moved upward under the
lead OF Reading. Delaware and Hudson
scored particularly extensive advance.
Among the less active railway stocks
noteworthy gains were scored by Illinois
Central, Missouri. Kansas and Texas and
Kansas City Southern. 1t could scarcely
be said. however, that the news or gos-
sip accompanying the movements in
question possessed any novel or edifyinx
characteristics.
General Market Affected.
The traction shares on comparatively
small transactions participated in the arm
tone. which the general market displayed
during the greater part of the business
session.
A large volume of business was trans-
acted in the industrial and miscellaneous
stocks, and, in fact, the total transac-
tions in the market at large measured
very well up to recent averages OF ac-
tivity. Transactions I'm the United States
steel stocks were I'm fairly large volume,
although they resulted in rather limited
fluctuations. Reports bearing upon the
condition of the corporations business
were. however. distinctively encouraging
The most extensive advances in the mis-
cellaneous group were those noted in
Consolidated Gas, Brooklyn Union Gas
and Sugar Refining Amalgamated Cop
per and the other metal stocks were again
firm and active, but in common with
United States Steel shares showed rather
limited fluctuations.
The London stock market was steady
in all departments and foreign houses
were buyers here upon q fairly liberal
scale of the Rock Island stocks, but else
where the transactions OF this descrip-
ton showed small net results. The dis
count rate Of the Bank of England was
left unchanged at 2k per cent and the
banks weekly statement showed little al
terations from the position set forth last
week.