Show BEARS FORCED TO BUY STOCKS Large Shor Short Account Uncovered Uncovered ered and Prices Went Up in Consequence READING LED THE AD VANCE CALL AND TIME MONEY MAR MARKET MARKET KET FI FIRM RM New York May tock underwent a comprehensive recover recovery in prices today on dealings which at times showed get great animation There were one or con conspicuous conspicuous exceptions to the sweep of the upward movement and a a select few stocks I led te the movement aggressively and a heavy congestion of activity occurred in them Ta The undoubted steg of te the market wa was nevertheless fairy fairly generl general There wa was a notable unanimity of opinion that the strength of the advance wan largely due to the necessities avance of an un uncovered Uncovered covered ber bear account The dimension dimensions of the short interest were quie quite unsuspected on the pr part of the speculative element generally but the campaign against it wa was evidently founded on accurate maton of it its position At the same time reports were current of an absorption of some of the days fa favorite vorie sto stocks on account of banking in Interests closely affiliated with the wt compa companie companies nie nies and wt with their financil financial op operations ertons or representing te the actual con control control of the properties The belef belief in buy In lug of this kind wa was particularly effective in intimidating te the bear bears ad and driving them into shorts Reading wa was sti still the con conspicuous conspicuous leder leader ot of the advance and the upward upward rush In the price carie carried te the price higher than tat that ruling when the news ot of the Sa San Francisco earthquake was frt first received i In New York York Ere Erie shard shared pretty fully in te the strength of Reading aing but out outside outside side of tee these the coaler dd did not fully kep keep pe pace with the movement movement The supposition that te the anthracite c car carriers rl rs were considering a project to dl vest themselves of ownership of the coal companies by y a division of thee these aset assets among stockholders was the main Influence enc ence in the movement movement The Hi Hill stocks made mad a characteristic upward flight with without out any news to explain the movement The movement in general wa was not based on ay any kw known development in the siua ton tion to justify the radical change in the speculative temper since the ealy early part of the week week p Te The speculative element is a supposition that banking negotiations wih with foreign money centers ha have e been goIng on which promise a supply of money re resources surce sources for te the use of the New York money maket market whIch wl will Insure It against stringency during te the coming son season The Pennsylvania bond sae sale In Pas Paris is the concrete fact on which this supposition is b e Be Beyond nd that authoritative maton on the subject is not to lie e had hadin in banking quarters Te The lack of other explanation for te the days revival of spec speculative activity in stocks cause caused some cre I dence ence to b be given to t these e reports The money market market wa was fir firm today both for cl call and time loas loans the later latter partly in sympathy wih with te the forer former Syndicate requirements account for the rise In cal call lon loan rte rates A 2 20 per cent installment on Baltimore and Ohio stok stock subscriptions cled called for 50 toay today and a 5 50 per cent ent instalment Installment on Delaware and Hudson con convertible bond subscriptions ale for 7 00 Net Next Tuesday te the to tote te the OO Pennsylvania note issue are payable and later i In the week comes the payment on Chicago and Northwestern stok stock subscriptions London discounts were harder today but the impression prevailed in Wal Wall street thAt there might be some of ofte te the gold Import movement Te The currency movement of the week Indicates a slight change In the cash Iem item but syndicate operations may have an influence on the loan iem item of the The stok stock mar market market ket showe showed some sigs signs of werne weariness late In the day ad and price prices receded considerably bly wih with te the closing tone eay easy Bonds convertible into stocks were strong rose in sympathy and there was heavy buying of Wabash debenture B bonds Total sales p par value value rO call Unite UnIted States bonds were unchanged on |