The Birmingham age-herald., 1910-10-28
NONE IS BETTER IN THE STOCK MARKET Advances Are Made in Some
 Leading Stocks STEEL GOES HIGHER
STEEL GOES H.
More Seriously and Speculative { Operations Bring Forth
 Response

New York, October 27.-The resump- tion of operations for the advance In prices of stocks today was credited to the same speculative forces that were active in it's inception. The prestige of this supposed leadership had an impos- ing effect on the rank and file of pro- fessionaI traders in stocks and they were inclineds to follow the move inent. Their operations centered in United States Steel Union Pacific and Reading with notable supplement in V American Smelling. There were some striking price movements in other stocks but they were on volume of dealings that was not important. Unit ed States Steel made a new high level for the movement at 80, but the stag gering burden of realizing sales at that price caused a reaction which made the closing irregular.
 The upward course of foreign money markets and the heavy demand con- fronting them in connection with the November settlements had aroused some apprehension that the rate would be raised again this week. That 1t was not Is attributed to the intervention of the Bank of France by purchasing \ three, months discount bills from the London market and advancing gold to the Bank of England to tide over the present strain. The effect was percep- tible also In the foreign exchange mar ket In New York rates declining and widening the margin of exchange. The speculation was quick to- take advan-
 
 New York money market from threat ened requisitionS from foreign sources for gold. The evidence of call money being In sufficient supply was cited at the stock exchange as proof of safety for speculative requirements
 Bankers were not wholly in agree ment with this view. The London money position is regarded as holu4ng possi- bilities of strain during the remainder of the year. An engagement of $500,- GOO in gold at the sub-treasury for shipment to Canada was attributed to crop moving requirements in that quar- ter and pointed to possible extension of that movement. It Is parallel to the continued necessities of the domestic interior which is calling for heavy shipments by express. This demand is also factor in the drafts on New York balances of interior banks for pay ments to the government which have raised the weeks withdrawals of cash from the banks to the sub treasury to a total of s5.482,00o.
 Besides the Bank of England action the Union Pacific annual report and the increase in the consolidated, gas divi- dend rate were supplementary in- fiuences on the rise in prices The dis closure in the Unions Pacific report or the sales, of its Atchison holdings was regarded as strengthening the com pany's contention of non-control of competing lines. .s W
 The corresponding increase in New York Central and Chicago and Northl western holdings was a strengthening influence of these stocks. Union Pacific was affected by the consideration of the broad margin over dividend require- ments of the years earnings. The i'm crease in the Consolidated Gas dividend gave increased confidence in other var ious increased disbursements which have been the subject of rumors.
 Bonds were irregular. Total sales, par value, $2.487.000.
 United States bonds were unchanged on call.