Show 4 L ST STOCK CK PRICES Ir ik START UPWARD f p Yio Violent ent Rebound in Wall Street f From repression o of v 4 Saturday r i 1 1 BROKERS ROKERS EAGER TO BUY J RUMORS ON WHICH CONFIDENCE I IS BASED J ii i i Now York Oct was a via vho J nt rebound o in prices of stocks toda today went far to wipe out the heavy de of Frida Friday and Saturday The In J after atter the market closing Saturday In a state of oC demoralization until this mornings opening saw some important developments an and gave rise to rumors of others of still greater importance The Tho was a as a revulsion In senti sentient sentiment ment ent which sent stock operators scram to buy stocks who had made des desperate desperate efforts to sell them at any price J I Saturday Owing to the fact that I t G much of the tho selling on Saturday was in the nature of short contracts there was more than senti sentiment ent in the ea erness to secure stocks on oil the rapid rise J today day In fact there was a considerable subsidence in the force of the demand when the needs of the uncovered short l terest had been supplied As there is no loan market at the stock exchange on Saturday loans made on Friday carrying I fiver er until Monday the rush to sell on must have been based upon ap apprehension apprehension of a pressure to come than on onny any ny actual curtailment of credits Results of the Bank of 6 per lent Bent discount rate in the worlds market were much less than was feared In this can call money after lending at 7 r cent tell fell back promptly to 6 per pent ent and later In the day to considerably below this point This could not have een due to any actual replenishment nt of over Oer those available on Friday 6 leery on confident hopes were engendered iS however that relief measures would be bei i forthcoming The nature of this relief was left mostly in the realm of conjecture conjecture ture during the da day although there was i credible authority for fot the be belief belief lief The first of such measures measure 1 re receive attention the ru ree ee ment of the of f France to transfer as a loan Joan to to the Bank of En England land There is great confidence confidence dence that the Bank of France could really afford to do this and the conser conservative conservative safeguarding of Its gold holdings by that institution Is attrIbuted largelY to precautions against possible eventual eventualIties eventualities in Russia rather than to any defined requirements to be met Tim The presence In New York of the sec secretary secretary of the treasury was accepted as assurance that treasury measures of re relief lief were to be forthcoming for the New NewYork NewYork York money market It was the common assumption that the redemption pf the 4 1 per cent bonds of the government which mattre matl re next year would be anticipated with an offer which would allow the gov government government some saving in interest to the time of maturity based on the present price of the bonds in the market Fur Further Further ther deposits of government funds with the national banks also was regarded as asa asa a possible recourse The assurance felt that one or the other alternative would be adopted was measured by the tone of the mone money market and by the confidence with which stocks sold last week were The time money market held strong however and no loans were made below G 6 per er cent while for sixty and ninety days the asking rate w was advanced to G per cent The Tho amounts offering at these rates were reported small Anxiety over the tho effect of recall of credits from the market b by London seemed to be much alleviated The understanding that many of the finance bills maturing In the Immediate future in London have the prIvilege of renewal for a defined perIod had some something something thing to do wIth this sentiment The I market was regarded as an ample demon demonstration demonstration of continued control by the finan financial I cial powers which have dominated the situation for some time past The failure of a stock exchange member was without effect on the market The days extreme advance of 9 in An Anaconda Anaconda 7 for Great Northern preferred for Rca Reading and Northern Pacific to toto 3 to 31 for Pacific St Paul Amal Amalgamated Copper and Smelting and 1 to 3 points in many other active stocks serve sene serveto to indicate In the Important extent of the recovery from last weeks severe seere losses The market closed ed with the gains ins well maintained Bonds were firm Total sales par value United States bonds were all unchanged on call |