Show MARKET HALTS AND HESITATES Buying Movement Helps Things Thin for fora a Little While BEARS AR ARE INTI INTIMIDATED RALLY IN LONDON LO DON PRICES FOR COPPER New Neti ow York Sent For the greater part of time the time today toda prices in the stock market wavered and hesitated in the same uncertain manner as 35 was was wa the case yester yesterday yesterday day But tIme the active buying movement of or the first hour had established a level of prices well above those of yesterday and it was about this level that the days darn da s fluctuations occurred The bear element was impressed apparently by the evidence of pf resistance In the market and by some large buying that was attributed In the current supposition to the account of large banking and financial interest for forthe forthe forthe the purpose of supporting prices t This Is a new development in the recent situation and intimidated ed the bears Lon lAin London London lAindon don also bought largely largel during the ac activity activity of the first hour the or original original source of cabled buying orders are always open to suspicion London itself was not conspicuously cheerful and was under the influence of ot yesterdays ad advance advance advance vance in the bank rate Private dis die discounts discount count counts there made an additional advance I and the absorption of at gold by b Paris con continued continued continued unabated while further engage engagements ments were made for shipment to South America Some relief was caused in pure purely purely purely ly speculative quarters by the failure to appear of f the days dals stock market disaster s stel ter tel which was foretold In some high sensational predictions of or an active pro professional prof professional f operator Special strength th was shown by Cana Canadian Canadian dian dlan Pacific Union Pacific and Southern Pacific Reading also shower greater strength than the average of the list lit Otherwise sains ains were quite uniform and did not miot vary far fur from a J point Money rates were quite held and the fore forecast forecast forecast cast of the current curent movement for the week indicated the expected heavy de deolin olin in cash reserves by the banks But it was Vas inferred from fron the absence of flurry in the time call money market and from the securities to keep pace with the ex cx expanding expanding requirements ments of tho the Cash was w s stull fully tull abreast of money moner market needs The estimates of ot the currency move movement movement movement ment covers cov rs five fe days dus and includes a loss lossIn lossin In n r operations of ot On the he direct movement by express the time banks have continued to lose and It is believed that the drain has been sufficient to 10 bring the total loss in cash to consider considerably considerably ably abl over oer which would be more than suf sut elent clent to wipe out the surplus as is it stood last week without a reduction in the reserve requirements which would conserve the surplus Reduction of or de deposits deposits deposits posits by loan contraction on a large scale is confidently expected however as asa asa asa a feature of tomorrows bank statement A brisk rally in the time price of copper in inthe inthe the he London market was a help to Amal Amalgamated Amalgamated Amalgamated Copper here A good effect was produced also by b the report of a settlement of the freight rate as Between the gulf and Atlantic port rail railroads railroads railroads roads The absence of any renewed selling pressure on the time market encouraged encouraged aged some fresh buying buring late In the day da and ind the closing was strong at the time top level leel Bonds were irregular Total sales par value United States bonds were all aU unchanged l lOn On call i |