The Montgomery advertiser., 1905-12-27
WALL STREET REVIEW
CAUTION AND CONSERVATISM WAS AD-
 VISED ON STREET,
Course of Early Market Soon Dissipafed Apprehension That Chrlstmas Ad- vance was Over and Kill
 ed Warnings of
 Conservatives,

New York. Dec. 26.-Further very large and variegated absorption of stock marked heavy demand for stocks at an advancing tendency of prices was a convincing demon srons bopes or hf for suTthss advance would prove to have been overdone on sentimental considerations. There was a good deal of admonition to be heard in va rious quarters of Wall Street this morning last week of the year. owing to the heavy requirements on the money market and the mitted in speculative ventures The 3S per cent. money rate befcre the close gave point earY o .ne Srhei ne a spprehen sions that the Christmas advance was over and made small account of .he & warnings, s,,of of seems to have no terrors to the speculative spirit any. longer. the stock market having many times this fall that the safety of the position is felt to be assured. The the year added to the indifference with which the possibility of another furry was sHnsemaa5si %as mos asy possible but o9 The January disbursements will te larger than usual this year % ana m the nsersSy sGy large. But while the preliminary pressure will be thus aggravated the suhsequent re great. The current speculation is based on the assumption that, however, severe the short lived and quickly followed by decid- edly easier conditions in the tine loan mar ket do not bear out this assumption. There continues quite an urgent demsnd for the shorter periods including 60 and 9o-day loans and a commission Is paid for turds for these periods which heads the rate at the equiv alent of to per cent. Speculative con- fidence, however, continues unimpaired and there reported today perceptible growth in the outside demand for stocks:
 The profitable character of stock exchange business as well the almost universal conviction that activity of a large scope is to be looked for in the future are indicat- ed by the rapid advance in the rates for stock exchange seats sale was reported today at Ss5,000 ani numerous bidders were said to be seeking seats with the lowest offering at S75,000. The price of seats reach ed high $90,0 900 for the first time in the history of the stock exchange last week. Union Pacific and the United States Steel stocks was of large effect sentiment. There was no specific news regarding either stock, but strong impression was produced by the genarl belief that the heaviest de mand came from sources near to the control of these companies Copper securities of all kinds animated and buoyant The extraordinary movement in Ansconda found It's explanation in the. later repoiL of an enlarged dividend disbursement. sAmalga- mated Copper derived direct benefits from the large holdings of Anaconda stock. It made its best price in the last few minutes of the trading. Bu. the rest of the market was quite sharply affected " the profit talk after midday and was aggravated by the vi olent furry in money in the las hour. The closing was easy and the days extreme gains were much impaired.
 Bonds werN firm. Total sales par value unchanged on call.
 NEW YORK STOCK HIST