The Montgomery advertiser., 1905-09-27
WALL STREET REVIEW
VERY LITTLE LIFE ON THE STOCK
 EXCHANGE.
Money Situation Again Noticeable Feature of the Days Proceedings-The
 Price Movement Was
 Insignificant. Ea

New York. Sept. 2s.--There was very littl. activity in the stock market today owins lethargfc at times and the price movement was tnsiRnificant. Stocks in which tn, movement was of consequence was of thu less important grade.
 Apparently money lenders refrained from the active calling of loans such as induced stocks were relieved from the necessity oi marketing their holdings. But in spite ol there was little dlsposition on to sns Ssennn new ventures in the face of uncertain money;
 1t was the common understanding that banking authorities were in mood of stock market operations It was intimated that some of the recent large operators mad been induced to reduce their lines by sns- gestions of this kind. Borrowing money to buy stocks which are to figure as ao.- lateral In the loan is not an attractive in the market is liable to meet ths forced sale of the collateral when the loan Is re-
 It is estimated that the dividends and interest payable in October will cali for he tween f1.0oo.Ooo anr s72.000.0 .0oO These requirements will follow closely upon any release of funds following the conclusion of this weeks syndicate transactions. with the final installment af the Japanese loan sub scription in the background of next week Meantime the demand for funds was report- cd to have set in again with increased strength and the same is true of the sab treasury drain on the bank reserves To days sub-treasury statement shows a withdrawal from the banks since the last a gain by the banks for the same period last week of s4ss,o00.
 strong today and moved away from the gold import point, while the discount in the Lon don. don market is again above the bank rate. bank will advance its rate on Thursday But the same condition ruled last week at this time when the decision of the hank au- tnOr1tieS followed to maintain the existing rates The likelihood seems stronger. how ever. that the bank rate will he advanced next week Today's statement of the Inn perial Bank of Germany showed a decrease nf s2275.OoO In the cash on hand. The news the few stocks affected were under the influence of usual causes.
 The rise in Amalgamated Cooper was accounted for by an advance in the price of metal and the increased Anaconda divi- dend. There was special movement in which was shared in by Chicago Union Trac- tion. Chicago Subway on the curb dropped yesterday. Reports of large pmrchases Inf iron abroad for American interests was taken to account for the firmness in the
 The fsvorite weekly crop bulletin did not attract much attention as the facts it con nection with the payment of final instali- ments of s50.o00.000 by Saturday on snh- ecriptions to the Pennsylvania convertible bonds 1t is important to consider that Sh0- 900. GOO of the 4n collateral botterment notes of the Pennsylvania guaranteed by the Pennsylvania Railroad fall due on Oct i, or that date being Sunday. Oct. 2. next Monday. These two operations will have an offsetting effect In the money market that can hardly he expected to he ohviat ed entirely. the necessity for considerable shifting of loans. The days net changes were insignificant and the closing tone was irregular.
 Bonds were irregular. Total sales. par value. S. 100. 000 United States bonds were all unchanged call.
 NEW YORK STOCK LIST.