The Montgomery advertiser., 1906-09-22
F. F. tombstone & Co.
Cotton Buyers and Warehousemen
Props. Hunter Comprs
Cotton Bought Any Point Alabama.
Storage and ConsQnments Solicited Lowest Insurance. best face.
THE STOCK MARKET
SHRINI<AGE IN THE VOLUME OF
DEALINGS.
Principally Due to the Lessening OF the
Activity In a Few stocks Which
Have Kept Up the Ag-
gregafe. -I

New York, Sept. 21.-The shrinkage
stock market was principally due to
in few stocks which kept up the ag-
gregate fer several days. past. Read,
ing and Southern Pacific were stu
dsprooportionately active, but IN n aonne
time past. Outside of the speculative
favorites the market was exceedingIy
dull and sluggish and nearly stagnant
at times. The dullness OF the marKet
in the face of an appreciably easier
condition of the call loan market and
the promise Of substantial increase IN
tomorrow's bank statement was the
occasion of various theories to ac-
count for 1t.
Voices were heard in the financial
district. to point out that an inference
might be drawn that speculative de-
mand was not so eager to lick up re-
sources in the call money market as
shaw's circular to national banks
warning against lending government
funds for speculations has impressed
the minds Ct the stock m ar SENS e0 Of
urgent need in other departments o,
the money market than the call loan
branch to induce fresh relief measures
by the treasury department. Tne con-
trast in the call loan recedfng TO pc
low 6 per cent with the stock mar re.
quiet and gilt edge mercantile paper
SO loans for 30 90 days commanding
a premium equal to an interest above
per cent. was regarded In STOCK NUT
ket circles as glowing evidence OF tnr
Innocence of speculative borrowers OF
any part in the responsibility for nign
money rates. This contrast was felt 10
offer convincing argument In iavoI
Relief was very confident in fact tnat
further deposits of government iund una,
in national banks was immediately
| imminent. .x,,.,,,
of cash point to a gain by the banks
of upwards of s11,000.o00: This rep
resents the weeks ACQUISITIONS OF TOT,
drains to other centers. An important
element in the offset was the loss OF
balance to the interior on the express
| s., 900, 900 indicating that the interior
drain on New York has been fully re.
sumed. There was small aoai,io tnss
parcel of gold secured t9aaiy ana ana t nos
| from the Bank of France. but from otn-
err quarters. The private discount rate
in London rose an additional Irac.
of gold also rose higher. the erect pc
ing to divert New York's demand upo"
Paris. .,..,,,.,-
&c its determination not to release
gold to New York. 1t is not eTpee.ea
| that a movement fro mParis Will attain
any important proportion. Inns III
creased the conviction that treasury
measures wer tn enext avlbleaeiaerdina
measures were the next available
source of relief. The special strength
of Southern. Pacific. was based a. on re- e.
pprovide means for taking over 81:
Paul. Amaigamated Copper responded
to an advance in the price of the meta.
and a number of minor industrials We ~,
sffected by special factors bearing ON
their Industries. The closing tone was
heavy and there was no relief from the
predominant dullness. ., ..,as mar
va1ue s1,474,00O. United States rs
coupon declined l 1-2 per cent on call
NEW YORK CLOSING STOCK LIST.