The Montgomery advertiser., 1905-08-18
WALL STREET REVIEW
NEARLY HIATT MILLION STOCKS SOLD
 IN HOUR.
Extreme Animation During Early Trading Was Convincing Evidence of Growth of Speculative Interest-Many
 Big Orders Handled.

New York. August 17.-Neariy half Q mil- lion shares of stocks were sold today in the
 @ hous of the n. siH1s srs,
 are the crucial test of the tone of the mar animation during that period of today was convincing evidence of the growth of specu- Large orders came from various quarters. Every device was used to make the opening prices higher for the benefit of those who of this growing outside demand. The accu-
 during the whole of the first hour. in the
 Q growing tendency to yield. which became
 more marked as the accumulated buying
 But when this condition of affairs began
 to be evident there was discontinuance of
 the pressure to sell which threw the market
 ness. sn' 'i The absorpti1e i power demonstrated while the selling was active served to en-
 to ns aSsh sn ssn & resumed later in the day to get prices up
 ssain sdvantsss being thus ss,n secured a,n. also on the next days accumulation of new buy ing orders.
 This has been about the course of the market for several days with some varia- tions in the effect relatively in the profit
 taking sales and the new buying orders. quence in the market and nothing import,
 ant occurred in fact to change the general
 to the confidence in the prosperous outcome of the grain crops and the grain carriers
 held their conspicuous places in the days market Stocks of Eastern railroads were notably held back by the pressure to realize, Reading being the conspicuous example, al
 record during its period of strength, So did Erie. which was the strong exception in the | group. Union Pacific was again very con spicuous and was subject of the most talk of deals and of mysterious developments. These rumors have taken the form of some
 Pha NoPthern preferred from % wsieS it is sat seid the expected benefit to Union Pacific will
 accrue by reason of its large holdings of The enthusiastic forecasts of the corn crop helped Missouri Pacific to an additional ad-
 xoSe va. ss Ss the s Sse% | epidemic in New Orleans has come under l control The peace conference at Ports | sideration under the belief that the critical | stage of the negotiations had arrived. All
 sidence n 'u in the financiai % world in a peaceful l outcome of the conference, pessimistic ut
 terances from diplomatic quarters seemed l favorable condition reported by the trade l authority in the iron and steel industry had
 its effect on the stocks of companies con
 dustry There was some special activity ir
 the Republic Steel stocks induced by dis
 dends on the preferred stock. The extra 1 dividend on United States Reduction and | heflnlnB eIpIa1neQ the advance Tn the StOcKs
 of that company. Reports that the often
 projected lead merger was again abandoned l depressed National Lead and had some eff 1 feet also on American Smelting.
 The money market continued easy and | therefore received no attention in the stock I market. The digestive process continued | up to the close. which was made irregular | by heavy profit taking in some stocks and
 the late rise of about a point in the United States Steel stocks and some others
 Bonds were steady. Total sales, par value | ga, ESQ., 900. United States 2s advanced B pei l cent on call.
 NEW YORK STOCK LIST.