The Montgomery advertiser., 1905-12-03
STREET REVIEW
SAME INFLUENCES STILL ARE AT
 WORK.
Upward Trend ef Prices After the Bank Stafen,ent Which Serves 10 Restore LargeIy the Previous De-
 cI1nee. MP

New York, Dec. 2.--Today's stock sa as that "f' of yestsrday The f depression sIos and hesitation shown in the early deal
 inss were based on certainties of the bances Es in Hu Russia S and some % anaiety S. over the effect of the assembling of Congress and the proposed legislation for feder- al control of railroad rates. There is stock exchange on Saturday, loans made on Friday carrying over until Monday; :, n.r sYs Yesterdays tert money nutry to nuence and the appearance of the bank statement was looked to with interest to throw light on the actual situation. sentiment seemed to lean to the inter pretation that the conditions disclosed were those of the past week and impro- Tss ae ee next week of the bank statement which I ae.SsiGn served to ssssSrs raaS ssrs lsrgeIy the gTsyioss declines pearanceN by the support at last in the Rock Island issues and the denial of rumors Of the withdrawal of leading ported of s1.5ss.ooo in cash reflected rather more than the expected loss. As pected gain this weeks showing was attributed to the working of the aver age ssS system. stem The loan expansion of in deposits swelled the reserve require mrent so as to augment the shrinkage In the surplus to es,591,725 bringing
 hs foreign ss aown szohassa ssn market S 'stsoax nominal on Saturday. was easier in tone and rates of discount declined again in waa sterlns exchange 1on. at .st Pars was firm. at the re~Qvery.
 Tofal sales of bonds. par value. ST. Sales of stocks at the stock exchange | the year on Monday. with the 1ncreas- ed animation of the dealings there be- cess in the furious upward movements of some of the specialities and indus trials: Later in the week the market some revulsion of sentiment. This was emphasized by the construction of tho money. market. due in part to the pre- ments Rnd by the renewed anxiety caused Ny the course of affairs in Rus sia. The speculation was enormously the most most sensationai r1sovements % % and there was obvious disposition to realize profits in other portions of the list to ed Ab by the special movement. S 1teMt Much % of the activity was highly speculative in character and was unaccompanied by actual the for the violent alterations In market values, while were caused. Tn other eases there were actual happenings of ues.
 Last weeks bank statement was a prime cause of stimulation to the spe- culation with It's showing of a substan- tial accession of cash reserves accom- panied by a moderate loan contfac- ting. Growing ease. fin the money mar iatfon from restriction of money sup plies. Unexpected requirements from the interior resulting in heavy trans iy to San Francisco. put a stop to the declining tendency of interest rates Other interior points stopped their re- attracted by the inviting rates for for mon change at Chicago. fell back to a dis
 after prs t1qsnnf a.t fory Sse eents enH ment of large amounts of gold for sx- pors to an q, ankn9wn ba so,S destinsrca at ast be intended for Mexico.
 This movement was attributed to the | rise in the value of silver to above the mintage value oT Mexican coinage. with the result of q profit on purchase of silver coins there for export.
 per and lead has played a potent part also in the animated speculation in in dustrial stocks have. to do with those
 
 ment in the situation thus presented is being watched with attention for It's effects on the money. market. The were without perceptible effect on the | local money markets. The bulk of these subscriptions arc not payable until af-
 The effect of the Russian situation has been restricted to tie reflection from foreign markets and the immed-
 
 volume. The extent of the financial unsettlement in Russia and in Russian securities. being greater than during the period of military reverses during the war with Japan. is. however. taken account of.
 In the railroad world there have been | several important incidents. St. Pauls formal announcement of the decision to extend the. system to the Pacific coast has been long expected; The stock has moved in anticipation of an inn mense cash benefit in the way of sub scription privileges to the S25.000,000 of authorized stock in the treasury. Suggestions that bond issues were con- templated for financing the new pro- | iect had an unfavorable effect on the stock. Rival transcoptinentsl lines comment was aroused also by the for mal relinquishment by the Erie of the Cincinnati. Hamilton and Dayton pur- chase and the reversion of that proper
 The discussion of the affair." which IhaS been conducted for some time past Is held to account for the restraint uponv the Erie securities during the course of the recent rise in the gener- lal market. The ten per cent. extra div Iidend on Lackawanna assured the repe- tition of last years twenty per cent. annual distribution and serves as some explanation of the extraordinary price level at which stock has been held, The Icontinued traffic congestion and car shortages prevalent among the rail- lroads added to the influence of reports of storm blockades in the northwest lThe unexplained break in moderate val tues for the Rock Island issues, Ialthough, Of small apparent ef- feet at the time, Is matter that Ihas tended to recur to construction in the general unsettiement of the latter bart of the week. The interruption of the Thanksgiving holiday and the con Icurrence of the preparations for the Imonthly settlements tended to aggra- vate the pressure to realize profits on the stock exchange. ~
 Bonds have moved irreguiarly in sym pathy with stocks. United States new
 4s registered declined 1-S per cent, the
 3s 3-4 per cent and the old As per cent
 on call on the week.
 NEW YORK STOCK LIST. |