The Montgomery advertiser., 1906-08-07
THE STOCK MARKET
OPERATIONS STARTED WEEK WITH
 UPLIFTING PRICES.
Early Dealing Showed No Remains of Dispositfon to Realise Proflts Which Characterised Previous Weeks Closing Trans
 actions.

New York, Aug, s.-operations in stocks started the week with cur rent uplifting in prices before the in1- eevry sign of eagerness to secure stocks even at the wide advances in the bids made necessary to bring out offerings. The early dealing showed no remains of the disposition to realize profits
 ings of last week. Instead of that the market seemed bare of stocks at the
 prices prevailing on Saturday, and the wide opening advances were achieved changing hands. The advance was continued quite briskly during the course of the first hour. There was
 an abrupt falling off' in the volume ot business at that time and brokers on the floor were almost Idle during the middle portion of the day. There was no appreciable revival Of activity until
 the last hour of the session. The op- pression of the extreme heat of the oay
 was respohsfble to a large extent for | the fauguor of the market. The tone was noticeabIy firm in srite of the al- most total cessation of the buying, re. cessions being limited to the small | fractions inevitable in practically l stagnant market. It was this passive l resistance of the market that prompted
 the traders to renew the advance in the last hour. A considerable distribution
 was effected at the. high opening level
 which represented profit taking on the lines taken on during the revived spec ulation of last week. The increased confidence displayed in the movement of last week evidently had an effect in | stirring the speculative spirit outside | of Wall Street and commission houses | had more orders to execute than at movement was initiated. The London stock market was closed in continua- | ton of the holiday which began on Saturday. Foreign arbitrage houses l- AL hNrRr tctocks. however. and these were sup posed to be purchased for foreign ac- count. The continental markets renect- | ed increased confidence over the situa- I tion of affairs in Russia Discount rates, however, in the open market rose | both in Paris and Berlin. Foreign ex- l change rates here at the same time | held firm Rates for call loans were | triffe firmer than the average last
 week. but did not rise to the maximum of last Thursday Saturdays bank statement was the subject of continued discussion. The large increase in loans and deposits was believed to be effected by the inclusion for the first time or the account Of State bank. It was re- lcognfzed. however, that the current cash flow is turning in the direction Of the ported that the demand on them from the region beyond was increasing. The promise of abundant crops it carries with 1t, and the likelihood of corre- ISDOndlng 0omdHu fOT So AiO' them Expressions of confidence were published coming from Chicago bank ing authorities of the adequacy of re- sources to meet the coming demand, But no countenance Is given in banking quarters to the supposition of some Of the speculative element that the New York banks will be free from the de- mands upon them normal to the crop movement season. Rates of interest on time were strongly held and the sup ply offering was said to be diminish ing. The failure of bank in Chicago was without effect on stocks. The traffic officials united in declaring that there was never a time when there was so heavy and diversified demand for all kinds of merchandise. The failure of the bond market to share in the revival is demonstrated by the fall in the par value of tho weeks sales to $9,OO0,0eV compared with $l7.296,000 in the cor | responding week of last year. The | slightly irregular tone in the nnal earnings in stocks was due to taking of profits by the room yss@Ng element Substantial nett gains tonpsne day re, mained Bonds were Irregular: Totai sales par value $1, ,i05, ,000. U. s. bonds were all unchanged
 | A,uuv vORK cTOsTNG STOCK LIST.