The Montgomery advertiser., 1905-09-20
WALL STREET REVIEW
RELAXATION OF THE MONEY MARKET
 APPEARS.
This, However, Did Not Prevent vyeatr Tendency In Stocks, Prices Being Toward Lower Level from
 Beginning,

l New York. Sept. 1s.-It has been assumed for some time past that anxiety over the money outlook was the sole restraininx in fluence against speculative advances irl the | stocks. the general brightness of the indus against this restraint on the part enaf,hs of ths professional operators of all classes.
 The immediate developments in the money | taxation of tension, but this did not prevent weakness in stocks. the tendency of prices set The technical condition of the market | after last weeks considerable advance which which: moreover, was made in face of ad- ment In Wall Street might be held account able for the reaction itself. Sufficient strengthening influence. which would help the market to absorb the sales
 But there were besides some factors of a positive nature against the market In the side of the money situation, the most dis opinion on the part of officials of the Bank of France and of Paris bankers contained in cable to the Associated Press last night on the prospects of a gold movement to New York. 1t was therein clearly disclosed that the Psris banking world you'd regard . for Shipment % to Kew YoPk hH with H FranGs sntIrs eauanimity The impression which had auirements for the fiotation of the forth coming Russian loan would prompt the sion of opinion on the part of Paris bank CTS.
 The news of the engagement of s1.75e. 900 of gold for shipment to New York also con tained in the Paris dispatch was confirmed In New York. It became known that $400,- 900 additional In gold had been secured yes terday afternoon. The withdrawals up to this time are all from the London market. As consequence further advance in the Bank of England rate is expected this week in order to divert New York's demand from London to Paris.
 The renewal of the crisis regarding affairs In Morocco was another disturbing Influence in foreign markets. The heavy volume of selling for foreign account in the stock and this played no small part in the weak tone of the market.
 With the course of prices downwards once establishe1 more attention was given to other unfavorable factors. The possibility of mischief growing out of the conetst for sontrol of the Wabash was much discussed. The depression amongst the Southw esterns was aggravated by the total discoura cement to the hopes of an early dividend dIsburse- the president. Railroad earnings in that section compare with the heavy St Louis contrast unfavorable.
 The weekly crop bulletin of the weather corn SreaS cron also rsRSrsea some damage to the gold engagements. the local money market was relieved from the absorption by the converted the loss of last week by the banks into c small gain Pension payments and purchase of foreign exchange by the post the increased Government expenditures
 While the immediate conditions of the money market were brightened this way, opinions for the prospect for the next few weeks continue decidedly conservative The average rate for call loans was rather high
 Bonds were heavy. Total sales, par value. sS.l5o.ooo. United States bonds were ali
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