The Montgomery advertiser., 1905-09-15
WALL STREET REVIEW
10 SELLING PRESSURE NOTICED II
 STOCKS.
Eeuerai Public Not Largely Interested,
 Transactions Being Principally in 1 Hands of the Pro- fesslonals.

New York. Sept. 14.-stocks were free from any pressure to sell today and the demand to borrow. There were conditions which prompted room traders and some urge professional operators to work for
 That transactions were mainly in the lands of the professional class of operators Fas generally agreed and the commission houses put out a daily report that busi- pess is poor and the general public not in- ssrested The fact that the advance in fries met no serious obstacle makes the ap-. tropriate descrintion of the market that or trength. The term is s.,r correct. for % as the the yard tendency of pLtces asserts itself when sver the condition of the money market is
 That was the case today, call loans befng made at per cent or below, while fne rates for time loans were about sts@ay, Tns was ignored in presence of this tranquility of the money rate The great strength of the of the underlying strength of stocks It is a very general conviction in Wall Street that if easy money were assured Prices, of The enormous grain crops promised are one of the prime arguments for this view. and movement should turn to the quarter Of the market where the grain movement spicuous IcrS e promise of the corn crop and doubtless also to the fact that the stocks of corn carrying railroads have not been led the movement. The buying converged on Missouri Pacific All of the grangers and the Southwestern group generally. as well as the Pacifics and transcontlnentals shared in the movement.
 The operation of speculative pools was disoernable in some stocks of the group, as The absorption of Erie was on an enormous scale and caused that property to be asso- ciated in the current rumor with the open admission that negotiations were in prog ress for disposing of the Cincinnati, Ham iiton & Dayton property. The consolidation thus promised of the trunk line situation helped other members of that group es- pecially the so-called differential and south ern trunk lines
 The retention of the Bank of England rate cd as a reassurinE factor and revived ex- pectations of a further import movement of loss in cash by the banks to the sub-treas- ury alone since the last bank statement amounts to considerably more than the total of the surplus reserve 1t stood last Saturday and the total gold engaged. If 1t were available to the reserves, which 1t will not be until it's delivery in New York. would hardly save the surplus , rom so opils. III, outgo for cash to the. interior on regular express movements, which also continues large. loans today and the cash movement evident ly makes it imperative that banks should effect the showing of further ,, isEge .,t loan ment. But the quiet tone of the money market implies supply of funds from other sources supposedly th1 trust eompehes p9id. sno 10 protection from disturbances of credit fa- cIiities for operations in stocks
 Discounts rose in London and Berlin and tho foreign exchange market here showed no further important recession Stocks de- veIoped renewed strength late in the day and closed firm at about the, the best prices. value Sz,465 900. United states bonds were all unchanged on call.