The Montgomery advertiser., 1905-12-24

sumption of business last Monday, The surprise of this news was complete as no premonition had been heard of cret had been so well kept. although known to circle of counsellors, con- veyed an unpleasant impression. The shock to sentiment caused by the Chi cago news therefore, wah violent. It came also on a somewhat over extend- ed speculative situation. which had all ready had some effect at the end of the
 Nobody was much surprised there fore. to see miniature partc in some stocks during a half hour after tie
 feet had been exhausted practically. by
 that time and Mondays closing prices showed a few substantial losses from
 dons 1ss by S the a'rpaS paompt me and a eteetive
 measures taken by the Chicago clear
 ing house banks to insure depositors of the affected institutions against loss:
 due to neglect of the banking laws and the fact is dwelt that banking endorsements have been reduced to
 violations of law or trust are in-
 volved especially in the absorption of resources for the benefit of the private
 banks. Time has been in Wall Street when a case of this kind would be seized on as offering a possible symp-
 the particular case. But 1t wss pushed aside this week as of comparative un- importance. The movement into which
 had its, point of irregularity and oc- casional hesitations but 1t was not, on the whole. inconsistent with the Christmas spirit which Is found in the neighborhood of the stock exchange in prosperous speculative periods. The holidays call for some realization of profits as a matter of course and this has been in evidence throughout the week. Except for the disastrous half hour on Monday morning, the profit
 taking has been conducted with .ap- would be made on the New York mon ey market. partly for the taking of measures of precaution and fortifying the situation there and partly for the necessary tie-up of resources involved In the clearing houses plan of settle
 heavy wsre ey in fac Of the week also. it was va % an .opea question whether the resources of the Foreign exchange market would meet the demand for remittances abroad to meet interests and dividend payment ts to foreign holders on our securities. addition by the Russian situation, 1t from. New, York, This probability | ed to argue against the speculation. The great center of the speculation has been Union Pacific. The dimen s | sions of the movement in that stock l the volume of the dealings and the persistence of the advance point to | extraordinary developments regarding l the property. Nothing but -umur and
 surmise were offered to explain the movement The suggestion of an at- | tempt to wreSt control of the property or a share in 1t from it's present own, CTS, much discussed, but with some
 skepticism, owing to public knowledge
 of large pooled holdings and the re. l sources of the control for issue of ad-
 ditional stock. The passing of contro
 of the Tennessee Coal and Iron Com.
 pany to Republic Iron and Steel inter.
 ests market only one step in the sup 1 speculative rumor-mongers have made
 to include a large number of compa. nieS With the new control assumed
 and the contest for the stock ovel | the price has dropped back. The event of the late week was the announcement | of change of control of the Metro.
 politan Street Railway to Belmont ol
 lnerborough interests. Official detail. are lacking but the consensus of opin,
 ion was that the change has eiimirlaI. | ed all possibility of competition ana
 that local trafic would hereafter b, handled in more satisfactory anG | prospective manner. The bond fnarkst | Tor the week was quite active ana | moved in accord with stocks, IJniteI
 States new As registered declined, anf
 the ditto coupon IA on the cali ol
 NEW YORK STOCK HIST.