New-York tribune., 1909-11-20
FINANCIAL MARKET
STOCKS CLOSE FIRM.
Reading again the Feature
Missouri Pacific.

The Transactions on the STOCK tx
change yesterday were the largest for
any day this week. hut this was due 70
the movements in Reading and Amalga-
mated Copper. in which the trading was
on a very heavy scale. The general
market was strong and active i'm the
first hour. and thereafter exhibited a
tendency toward dulness. which became
pronounced in the afternoon. The close
WAS firm. with net gains in majority
Of the issues and striking advances in
Reading and a few ordinarily inactive
stocks The copper stocks were the
feature OF the early trading, but the
absonce Of any definite fresh reports
concerning the combination negotiations,
by which reports alone their recent ad-
vance has been influenced, tended TO
ourtaT the enthusiasm and the opera
tions Of their supporters. which were not
stimulated by the favorable develop
ments in the copper metal market in
Guiding a further advance in price and
large increase in exports during the
second week Of the current month. Utah
Copper Was the only issue Of this group
which showed real strength, gaining 3i2
points on relatively Large sales. Read
ing. the total transactions in which ex-
ceeded 10000 shares. was strongest in
the late afternoon. making a net gain
OF as points; and the other "Coalers"
also advanced. probably the impetus
being given by the turn of the weather,
giving promise OF a belated heavy de-
mand for coal. although in the case OF
the Central Railroad Of New Jersey,
which has risen 25 points in the last
two DAYS. the expectation of an increase
i'm dividend or a melon" of some sort
was the primary cause. an expectation
which naturally has been Of assistance
10 the bull pool which is actively At
work I'm Reading. Consolidated Gas had
a sharp advance toward the close. rising
more than points on buying ascribed
10 the good showing made by the New
York Edison Company. but more prob
ably rejecting a coming announcement
such as that Of the advantageous sale
Of part Of its large holdings Of valuable
real estate and the concentration Of its
manufacturing activities.
The announcement by Mr. Gould that
Cornelius Vanderbilt was to become "A
director and member of the executive
committee of the Missouri Pacific had
no market effect on the stock. although
IL was Of beneficial augury 10 the prop
erty as indicating the beginning Of tho
policy OF admitting important outside in
terests TO the board the membership Of
which is non confined practically entirely
To the personal representatives Of Mr.
Gould. Mr. Vanderbilt. as a director of
the Illinois Central and a stanch sup
porter Of the late r H. Hartman in his
contest with Stuyvesant Fish. may be
classed as a representative Of the inter
ests associated with Kuhn. Loeb & 60.
whose undertaking Of the Missouri Pa
oiac financing had been commonly ex-
rected 10 be followed by changes in the
directorate Of that company
Call money ruled rather firmer vester-
day, the prevailing rate being 8 per cent.
against ~ per cent for several days
previously and the time money market
Was QuieT and unchanged. There wer,.
further cnsagements Of gold for ship
uneut To South America to-day amount
ing 10 81 500. 900. The banks have an
par'ntly suffered JOSS of about 5000
600 cash IN the last week. due princi-
pally 10 the gold movement, as they hav,.
mad- gains from the interior and on
Sub Treasury operations. nd on that
showing the statement to-day should
show a decrease in the surplus reserve.
since there has been 70 extensive liGui-
datiOn In the stock market during the
week. But bank statement forecasts
and facts usually are widely at variance.