The Montgomery advertiser., 1903-08-29
GROWING CONFIDENCE
DIsoUrETING NEWS HAD NO EF-
 FECT ON MARKET.
Reports from Washington That the Treasury Had $40,o00, ,o0o of Internal Revenue Payments for Deposit Strengthen
 cd the Market.

NEW YORK. Aug. 2e--The stock market had its upward turn again to-day. The vol in yesterdays almost stasnant market. and the fluctuations were rather wider. but thu market retained it's highly professional cha. est originating outside the board room The principal reason for the movement of the veersai of that Of Of the previous M day. the oS. vious tendency being to oscillate narrowly about a fired point. Thus the morning news that the squadron of American warships had been ordered to proceed to Beirut, Turkey. prepared to exact reparation for the murder much as a ripple in the stock market. al. though the report of an appeal for protection for American missionaries in Syria promised disguised confidence in the financial district, however. that this incident is capable of ad- son of fos cipitated before the session of the American Bar Association might have caused great trep- prevailing but that the Western flood news was equally ignored with the Turkish incl gbss Ha n rss by several of the days developments. and this was probably the principal factor in advanc- inston that the treasury had accumulated some $40. o0o, 900 of internal reevnue pay ments which would be available for deposit in national banks. was a greatly reassuring factor as the possible means of relief for the money market by the Treasury Department
 
 conjecture. As 1t is. the question remains of an adequate supply of government bonds by the banks as security to obtain these deposits or the further acceptance by the Secretary of the Treasury of municipal and state bonds in resumption of last years policy. which has been considered of doubtful expediency. The incidental explanation that the $40 coo. 900 accumulation was a contingent provision for Panama canal payments was received as an official confirmation of the unlikeness of the payments being called for this year. The special strength of the Pacifcs led by Union Pacific was attributed to the obstacles thus indicated for the Panama project. The prin- cipal movements of currency for the week show that the movement Is. still in favor of this center against the Interior. the indi- cated gain on that account being over S2.- 900, 900 In the last week of August last that, and for the year before was about S3.- 500, ,000 With this delay in the Interior de- mand for currency the banks themselves are showing signs Of weakness with the policy of keeping their resources in call loans at a rate below that at which they are paying to trust companies and interior banks for their deposits. The result was shown to-day in somewhat fewer offerings of funds for time loans and an appreclably easier tone in that market Mercantile paper was also fin some what improved demand. Prices of active stocks advanced pretty generally between a 2 points. and considerably larger gains were shown by some of the specfalties without ex- plantation. The market closed heavy and somewhat below the best The bond market dull and irregular Total sales par value, Sl.- 265, 900. United States 2s advanced t and the old As F per cent. The new 4s registered declined h per cent. on the last call
 Treasury Balance.
 WASHINGTON, Aug. 2e.-Treasury balances S23i. BIO TAO; gold Sto2, io.5e4.
 NeW York stock List.