The Montgomery advertiser., 1905-11-14
WALL STREET REVIEW
RANKS COMPELLED TO CALL IN THEIR
 LOANS.
Despete Dips h Prices Throughout the Day. There is Buying of an Im- pressive character and Panic
 ls Stalled Off. E.

New York Nov. ls.z-The banks, of which
 ess sss n ths Saturday bank stss
 y Ssfs Ias s', were under is.ai sonss&s!ns se r.
 upon specnistivs borrowers the necessity for der to respond to the calls for repayment M VI of borrowed money. The rate for call loans rss 'ss lent a consequence there was fitful liquidation of ssn: mos, in pra.. s the sss Q n ,s. @ pouring of liquidation there was buying of an an. impressivs impressive and subtle character 90 that hand at all times and the necessary iiqui- dation conducted without any appearance of pressure upon the ma market brought S m raliies lies In prices but the demand was not inclined brought fulnsss in the trading. The 'strin-. ii- gency |. in the money market was greater ssn s aaass s 'ns as aosa % % Sra. ses parallel between that and tha present pe- ths rS fact sis th wss Sy ing the recent speculative tendency In the market attributes 1t largely. to a very veal entity ignored the warning of the growing construction of the money supply and have cheney of their resources to sustain their speculations in the stock market. Tn this liar and the fact that speculation at that period came to disaster suggests copclusfons I But hs shs ressn1 contrast an wheh tSs 1902 period must take account of the con s.snt sh,rnkase in industrial and somme1 effects which were stil fsis at that @ time ration securities and the the resulting market indisestion which was the leading char favorable factors @ SI has an % exact ~ parallel in the situation at this time. Confidence in ditions is quite ana nniyarsal s' This n must ae- count for the material support which devel- ciinss M and which was oc clearly I in aSidence in the character of the buying on declines to- day; . In. In spite of the lofty flights in the measure of relief son to develop. These con sisted for a time of a reiteration of reports vene. but the officials announcement of Sec retary ,shaw's indisposition to. take an. tsrests as distinguished from speculative a,e likely to suffer. offset the effect of these exchange rate gave rise to the censidsration of possible import movement Of gold. weeks ago when when possible exports ID " were under der discussiton. a What eyer may be the out ing of very heavy sums in the loan market for the account of foreien ca ital The fered for 2 larger, buyins demsn for that but time loans for the sixty and ninety day periods were affected by the money strin- gency today, commissions for securing loans for those periods bringing the rate for the use of the money well above six per cent. The substantial recovery of the market was due to the good effect of the relief offered to tn money market by the break in st Ing exchange. The late rush in the money rate up to 25 per cent. was not regarded as normal any more than the sudden relapse to six per cent: but the effect was unset lar, but with some prices at the highest point of the recovery.
 Bonds were weak. Total sales par value S3,T55.000.
 U. s. ss. advanced % and g. old 4s < per cent. on call
 NEW YORK STOCK HIST.