Show i IE EAST Heavy to Buy on the New York change AFFECTED BY LONDON STATEMENT BAIC THAN TEAN EXPECTED Conditions Continued to Technical Cause an Awakened Speculative Demand Tor Por Stocks and an Ad lid Advance vance in fl Prices During the Week Money Market arket York March 24 Evidently ew street treet attaches importance a at this time to the attitude of London towards the loud securities market for when from ft the morning cable t aa seen wa t its dispatches that London had reversed reverEd tutu of and had begun to buy American securities the manifest here yesterday to sell out tad td profit was W completely al altered The buying for London account supplemented by a rush to buy all it da ix Influence was wa In the early market la In of the international favorites of which 2 o U and D TL R G stocky were Baltimore Ohio n most st conspicuous in 1 the late dealings an extreme I and an retained ita it place lathe La the market throughout m in which the transactions are dealt in purely on a ft large WaS taa la In lots as though that were ere the normal suit of trans and individual transactions In Inthe ji the st Sik rk ran from that up to shares cares which was the size of the block taken when the tha price first touched All Mi of the trunk were more or lesa lesti by this movement but the stream of realizing held back the Nor Norfolk folk Western stocks Transactions of ot 1 1004 00 Shares and upward were fre Lre frequent quent all through rhe railroad and blocks of oo shares changed hands in common and Southern Pa The Pacifies especially Atchison and some f Hie tue southern and some seine of the southwestern group were heavily dealt in iii all flay day The Grangers were le Ies s active but the group was strong There wis some me tendency to reaction In the local tractions and the Iron and steel stocks were quiet Otherwise there wad no IbO Important exception to toe Hie e general activity and strength of the list The closing was active and fairly buoyant at the prices An early Inkling was obtained of the probability of a favorable bank state statement ment based on the growing abundance of funds offered to borrowers The heavy loan contraction in spite of the outbreak of speculative activity indi indicates cates how important an element was the buying of government bonds for speculation In tying up the money mar market market ket The late rally In governments in indicates indicates that the principal liquidation in 15 this account has been completed The loan contraction by the banks re resulted suited in a decline in deposits of nearly and a consequent reduction In reserve requirements of As the loss in each was only the surplus was benefited to the substantial extent of bringing the surplus up to There Wa as not ranch much change this week in conditions bearing upon actual values of securities but a number of d T in technical conditions combined to cause canse an awakened speculative demand for stocks and an ad varce ance in prices Most important was th appreciable relaxation in the pros pres sure Kurp on the money market which has hn for fr s onie time deprived the speculative of available resources with bich to operate Great confidence has been expressed for several weeks that the new currency bill was to result in ineasy easy em money but the prospect of easy money is more difficult for Wall Wail street discount than other favorable factors because the actual relaxation of money mu bo b awaited to supply funds for speculation Aa As a matter of fact the present re relaxation relaxation of the money market is not due to additional supplies of bank notes Issued under the new law but rather t te a general changing of plans by na national banks with regard to taking out circulation For nearly two there was large demand for forlan lan lians r nfl n the New York banks for the so of buying government bonds Tho Th price of governments had been so much increased as a consequence that thata R a liquidation of holdings offered much profits profit than the taking out of off f There have been large M nf M government bonds in conae conse with the Intention of offering for taking out additional t U u n until bonds could be bought in at ater l er prices The refunding 2 when i were quoted at one time on the exchange Tchan e at 1 bid and on eUy of this week they voId sold at Ill other government bonds bond declined in th p but have been steadier t fr i hc no larter larrer part of the week IT 11 to take profits In has released large targe amounts of funds to the market The liquidation of lo ms tied led up by the purchase of gov nt bonds doubtless accounts for forth forth th ef C New York exchange at ati i at tor earlier in the week the thern rn raT at a t Chicago having advanced at aton aton on inn line to 25 cent premium per thou ar aE 1 i Th The absorption of cash by the New Neu York has 1 owing te the larce government payments on account of pensions and laymen ef f premiums on converted tonda The withdrawal of funds fund by Tie te government nevertheless contin contins s 5 large Early in fri the w week k the unexpected an anI r I of he acquisition of Third ft e ue by th the Metropolitan Street T 1 ay ed that the amount of oft t L rt sates ealos of Third avenue stock was K ater than the total amount procura a e 0 in II the market The squeeze of oft t shorts in this stocy frightened the 1 shorts in th stock frightened the f demand to cover shorts in all I New York public utilities in which t aar r campaign had been in full g Other industrials and special I responded in sympathy is is a maxim with professional v operators that prices of stocks advance before the general pub I ill manifest any interest or come eom d id buy The squeeze of the Shorts i e specialties and the advance in prices seemed to give tr filling to in the market and ie le buying through commission commissiong g largely Increased as the week weeke e sed Speculation to in stocks kept kent t for money well abreast of ot t supply and rates were woN maintained The large de r C r for stocks for tor London w was s a lea fea t tr r rs rt l f the weeks trading The more mere s there as here is I due t ii f er r money following the release e tied up in the new govern a tan oan Which has been allotted It interesting coincidence that tha the n money fra market h has been ben bene K by extension an of the Bank of note of in the the theThis first in soy This ty te is based on the the bank of aole i if lapsed banks While the va technical development were the cau s of the upward Stove move bent were In reality only an ax ln In serving to release latent ote the market markel Bond Quotations t ws refund L N t M K T ct 1 2 tl K T i 1 rg teg PO o N Y C its no ito c u IN J C gen TJ U S new U Nor Pac 67 U 11 S now new Nor Pan Pac TJ S old is U S old N W con 97 U S s N W gon TT S 55 coa 15 Ore Nay Nav District St ct 3 Ore Nay Nav A gen O 0 S 5 L ii A FA 14 O 0 S 8 D Li con Canada anada C CC So SoC a Gait Gon G C O 0 4 s G T W s 99 0 O 0 Es en on W con Ill N h W deb Bt 1St Paul Chic C Term 97 i D R B G ls D R IL G 99 So Railway B E R B T 72 Erie E Gen 7 Texas P F 71 Texas P 57 Gen G en Electric U P G H S A Coio Bo SO 45 83 GH G H BA Wabash 1515 g H GI GH T C vs no Wabash 99 H TC con HO flO West Shore la I a Central Wis Cent 90 K Pacific Stock Quotations A 26 Texas Pacific iS Preferred 70 Union Pacific 5 B O 0 76 7 i Preferred 76 BC Canada anada C Pacific Oo h hf Canada anada C So f Preferred Ches hes C CC CC CC CC Ohio V S ir L JJ E B f Chicago C G 0 W V 13 preferred O C B Q Wis Central C L L 21 Adams Preferred 51 54 Am Express C E 1 U S Express 47 C N W CC C R it I L P JAm AW Cotton Oil C C C St L Preferred 93 Colo C ob So 7 Am Matting Malting 5 1st preferred 45 Preferred 2 preferred 19 Am Smelting 40 Del D el Hudson Preferred 92 D L W Am Spirits 24 D R it G 0 23 I Preferred 17 Preferred 75 Am Steel Hoop 35 Erie E rie 13 Preferred 81 1st preferred Am A StOOl Steel W V Vt 56 Gt G t Nor or Preferred Hocking B GB Coat Coal 18 Am Tin Plate 32 i Hocking H Valley 35 Preferred 83 82 Illinois il Central Am Tobacco Iowa i owa 0 Central 15 u Preferred Preferred 51 Anaconda Ming Iv K C P 8 G 0 18 R P T bT 67 L E B W 23 Cob Colo F I 49 Preferred SS SG Con Tobacco Lake L ake Shore I Preferred I L N 85 Federal Steel 50 Manhattan M L Preferred 75 Met M et SL St Ry Gen Electric Mex M ex Central 1351 Glucose Sugar 52 Minn M Inn St At L 65 I Preferred 95 Preferred Paper 21 Mo M o Pacific Preferred 66 Mobile M obile Ohio Laclede Gas iu 71 Nt Biscuit 35 K M T 10 lOt 59 Preferred Jl 38 Preferred N J Central Lead 24 N Y Central 43 Norfolk N it W Steel 93 Preferred 77 Preferred North N orth Pacific N 7 Air 15 Preferred American Ontario O Coast W WO 82 O 0 R B N NH 42 1st preferred 62 Preferred 76 preferred 37 Mail P PR R Gas 1st preferred St Car 83 preferred 7 T Stan B H R 0 W 59 Preferred 91 St S t L S F I 94 TenS C 1st preferred 73 preferred 36 S Leather St S t L S W 13 preferred Preferred 32 S Rubber Rubbert f 94 S t Paul 1 5 Preferred Western Union 84 54 8 Preferred St S t P O OSo Republic I S 23 So S o Pacific 40 Purred Preferred So S o Railway 14 C C St L 67 Preferred 59 |