New-York tribune., 1909-11-13
FINANCIAL MARKET
STOCK PRICES FIRM.
Gail Money Higher, but Senti-
mcnt ImprOred.

Sentiment in the stock market i'm
proved yesterday in spite OF the con-
tinued firmness of money. and on vol
ume OF transactions rather larger than
for the preceding day. although still far
from the quantity denoting an active
market. prices showed a rising tendency
and the market closed with net advances
in most OF the issues. The leadership IN
point of activity was taken by the Inter
borough Metropolitan stocks, in which
a bull movement has been under way ior
two or three days. but without support
ing news developments. the common on
sales of nearly "a 900 shares advancing
TO o3Ts. and closing just under that fig
lIre at a net gain Of IL points and the
preferred. in which the transactions eN-
ceeded 10000 shares. advancing ASs
points. Missouri Pacific ruled firm on
reports. believed TO be well founded, that
the coming bond Issue II 10 take the form
Of convertibles, the inference being that
the future Of the stock is judged TO ne
favorable by the interests concerned in
the nending financing. The Hill stocks
and American Sugar Refining were again
weak in the early trading, hut Northern
Pacific and Great Northern participated
in the later general Improvement and
gained almost a point Zach on the daS-
There vas much activity in the special
ties and low priced stock. notably Amer
ican Can common: and Sloss-Shefiieid
scored gain OF points on the declara-
tion Of the extra dividend compensaunS
the shareholders for tho curtailment OF
their dividend return last year.
Time money was frner for the nearby
n,aturities. and the call rate rose To o
nor cent. for the second time this year.
although the ruling rate during the day
WAS = The preliminary forecasts Of the
hank statement. based upon the known
movements OF money during the week
pointed TO the Niping out of the surplus
reserve. as tho loss in cash by the as
sociatsd hanks has been almost Sl2.Nm-
GOO. more than S1.0go.oo0 Of this loss
having been 10 the interior. As the sur
plus a week ago Was only about 5000
Gao. deficit in reserve viii be reported
TODAY. n the Joss IN cash approXimates
tho estimated amount. unless there shall
have been also 4 material reduction IN
the loan item. An active shifting Of
loans however. was in progress yester-
day from the Clearing House banks TO
trust companies and 10 private bankers.
and the opinion prevailed on tho Stock
Exchange that this adjustment would
prove large enough 10 enable the hanks
10 show ~ least 4 small surplus over
legal requirements. 4 circumstance con
iributng 20 the easier feeling was the
advance Of New York exchange At Chi
csgo from 20 cents discount. AZ which It
had ruled for the preceding two days. 20
~ cents. indicating relaxation Of the
pressure OH this centre for funds The
Bank Of England continued TO strengthen
its position. its receipts of gold vester-
day amounting 30 more than 81. 100. 600
81 which part came from Paris The
foreign exchange market here was
strong. with demand sterling up , points
and an active inquiry for cables. which
advanced ~ points. owing to the neces-
sity of meeting maturing obligations Of
large amount. Engagements Of 81 5op
go gold for expectation To Argentina
and Brazil we're reported.