Show FEELING IN W ALL TREK Prices Had an Upward Tendency on Yesterday 0 A MUCH BETTER OUTLOOK 7 Heavy Purchases of Securities Are made for Investment Tho Movements In This Direction the Heaviest for Tears Foreign Buyers Were Especially Actlio Gold Ordered from London I i NEW YOEK July 27Among the numerous d nu-merous reports that tended to firm things up in Wall street today the most important import-ant was the engagement of 1000000 gold I London by Lazard Freeres and a further drop in the rate o sterling exchange ex-change One feature of tho days operations I it opera-tions was the purchase of securities for i investment The movement was the f heaviest in years and did much to steady the list Foreign buyers were especially J active and a conservative estimate puts the foreign purchases at 40000 shares The clearing house committee were in session until late this afternoon The long conference gave rumors and fakirs an opportunity to start the report that a large bank was in trouble and the announcement of the issue of 513500000 clearing house certificates I lent some strength to the report The clearing house officials said their Ions session was due to the large amount of work before them in the way 6f shifting shift-ing loans caused largely by the great depredation de-predation in prices yesterday They emphatically denied the story of any bank being in trouble Sterling exchange was demoralized this morning Posted rates were reduced twice the last time to 4SH and 4S3 Heavy purchases of stocks for foreign I account stringency in money and an increase in supply of bills against grain and cotton caused the demoralization Actual rates are below the gold importing import-ing point c When the delivery hour passed at the Stock exchange without announcement of further failures prices fairly soared L advancing almost n quickly n they were f fy drained yesterday I J Owing to the low rate of the exchange several large houses considered it a favorable I I favor-able time to purchase gold and this evening even-ing it was learned besides the order of < Lasard Freeres mentioned above enough orders were sent to bring the total purchase pur-chase of gold in London for the United States to nearly 3000000 |