The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1906-10-02
THE STOCK MARKET
THE MARKET WAS QUIET AND
FIRM.
DEED Eject ProAoced By Arrival Of
o0pth African Geld Secured In
London ny New York
AaMka

New York. Oct. 1--wall street braced
itseif Tor the shock Of possible call
80 efectnaiiy done that considerable
show OF strength resulted when 1t turn
ed out that there was not much OF a
money furry after all The call loan
DAY. and prices wavered as it was feared
this might be the precursor Of worse to
come. But the amount of funds attract
carry it lower. and the stock market
promptly stinened again. The strength
was rather spotty and was suspected
"s manlpuiative origin for sustaining
INSTRUCTED advance Of a few OF the most
prominent stocks proved ample to re-
, assure sentiment.
the hrmness OF tone had been estah-
lished While the principal require
Wents Tor the October settlements come
on the nrst or the month. some of them
iS usual for the stringency caused by
tne turn OF quarter to endure sever
, a days. owing to delay in the return of
market. For these reasons there re-
manned spirit of caution in extending
stock operations. as advances in the
money rate are considered probable for
Inc remaining days OF the week. There
- considerable Increase In the con-
ndence. however, that effective progress
has been made in securing resources to-
~ US hcctlHE the neaVy demands Tor
market. The strengthened position of
the New York banks. as shown by the
"a, ,ast tive bank statements. contributed
The surplus re-established compared
we'll with that OF previous years at this
time There was some dissatisfaction
at times with the wide distribution
with the banks but assurance is grow
ing that this relief will certainly save
the New York banks from some portion
OF the strain that would have fallen up
on them otherwise to supply Interior de-
mand for currency, even II the funds
thus disseminated are slow in finding
theI,, way "a b. back to the central reserve
SOURCES Of the government in the way
OF idle surplus are also counted upon
for use In relieving any actual erner.
effect was produced by the large pro-
portion of today's arrivals of South AZ
rican gold in London. secured for New
York account, being reported at $4,000:
for other purposes.
resulting rise in the price Of gold
and in the open market discount rate
marked the continued opposition of the
gushing OF gold. Less apprehension is
felt however. as TO the availability OF
New York 81 borrowers It,, t. secure ecu re-
don. and which mature in very large
amounts during October Recent cam
vases against London bankers reveal a
willing Tess to extend the period of
these credits. and this is believed to
play an important part in the unimpair-
ed confidence with which the specula-
tive. position in the New. York stock
market Is being maintained. The days
principal movements show the large
part, Mayed by the ore lands deal; ST
Ing Of Heading Tor control and a com
ing slx per cent dividend for Atchison.
all still in the form Of rnmors and rem
many previous times The market clos
ed slightly. Irregular. but with the
strong stocks near the top.
There was a broader market for
bonds in contrast with its recent mar
rowness and clueeishness. September
sales OF stocks were 25,2oo. 600 shares
an increase Of 80 3n0 0no over last Sent
cmber. while bonds sold in Sentember
at "a par value OF s42 $50 no0. which were
$2s PAT ono les than in September last.
Total sales TODAY. par value. s1.57s-
0c0. United States Bonds were un-
changed on call.