| Show WHEEL IN GRIP OF OLD TIMERS Practical Hands Guiding Wall WallStreet WallStreet all Street in the Direction of Higher Prices SHORT INTEREST PINCHED GAMBLING ON THE PRESIDENTS MESSAGE New York Nov ov 30 The stock mar markt ar kf kt today roday toda pave gave gave abundant evidence of or ofle le be I resumption ot speculative o leader by operation operation of ot ot the professional i lass The boldness and skill with the operations were conducted pointed to practiced hands The move movement movement movement ment was directed primarily against a short interest which is assumed to be belarge belarge large after so lengthened a period of i drain and disorder in the market The basis of ot the movement is of course the I clearing learing C of or the financial prospects her heralded heralded aided by the fading away of the prem prom premIum tiun Ium on the currency the agreement of advices from Interior bankers of their preparation for the resumption of ot cash payments as soon as the New lew York banks shall take the lead and the con conviction that such a development is 19 now no nonpar near at hand The animated feelings of professional traders during the day were accompanied Darned by many man rumors chief of ot which preferred to deal with the forthcoming message of the president to congress Some Sorno of the most demonstrative ve buy buyers ore ers rs of stocks claimed to have assur assurances I ances anes es of ot the contents content of the message on which they the based assertions that the theT j T dealing with the financial sit situation the need of currency reforms fie 1 Jle ie Intended policy pol Ie toward corporations would v be found to contain matter for fo on the part of corpora Ions tors I ors In respect to the abatement of hostility The days transactions showed a ten tendency dency denry rr ry to converge on stocks which have always been speculative favorites Li In the tre past and the market was given givena a 1 rather spotty appearance In this way and was waa at times feverish The time money market showed Increased relax relaxation relaxation relaxation and additional business was done Mi If that department the easing of the situation evidently containing means for the resumption of the speculative speculative activities a The speculative ac activity activity activity was Incited by reports of ot some heavy absorption of bonds for foreign a n in connection with the large sum of gold which have been shipped to this country The bank statement under the new nev rule In force foree did not appear until af after after after ter the stock market had closed As Asas Asas VAS as expected the transactions in con with the purchase of treasury certificates ertl cates have b wn th statement nt cUt tut ut so that the items do not prove the Increase In deposits falling far tar short of ot the loan and cash Increase The i rash cash Increase In tailing falling short of 2000 also falls to reveal the full effect of the known movements of money and this Is 19 I attributed to the effect of pay for tor the treasury certificates and delay In redeposit of of the proceeds The reduction of the de Irit by while small is the first movement toward renovation uhl h has occurred since the deficit i as established Some part of ot the loan loanI I rease Tease Is said to be toe due to purchase of commercial paper from out of town mercantile centers The stock market closed dosed Irregular under the influence of powerful realizing Bonds were active and strong Total sales saies par value United States bonds were unchanged on rail fall during the th week |
