The Montgomery advertiser., 1906-08-24
THE STOCK MARKET
WEAK BANK POSITION CAUSED IR-
 REGULAR TONE.
Trading at Outset Was Very Heavy. Espe- cfalIy In Hill and Hartman
 Issues and at Higher

New York, Aug 2s-with call loans opening at per cent. a further hardening no material change for the better in the weak bank position. it was entirely natural that today's stock market should develop was very heavy. especially in IiIl and Hartman Issues and at generally higher prices, the market apparently taking us cue from London where a keen demand Tor American securities was reported. IL would be interesting. however, to know just how nN much of this "demand ,fn was for New sssN. ture of the day developed with an alleged plan of the secretary of the treasury to hends of lso7 sg Ths aois issue amounts to a most s117, 100000 and runior had 1t that the government, as relief measure might .an- ticipate the retirement of these bonds with the proceeds of new two per cents. The possibilities of this plan opened the way to much discussion.
 Trustworthy information shows that there is absolutely no foundation for the notion that the secretary contemplates renewing sure on the local banks was slightly reduc- ed from the secretary's action in deposlt- ing ss.ooo.ooo in interior banks. Forelgn exchange showed increased weakness but the situation with regard to gold imports is still without change. Advices from Lon don indicate that Russia IS negatisuIng snp., dor South Africa and may outbfd American bankers. The return of the most conspie,, Northern Pacific properties was the signal for e renewed upward movement In these issue. which shared honors at the opening
 with Union Pacific and United States steel
 The Hill stocks fell back later, however, on authoritative statements that no immaculate
 announcement is likely concerning the early movement in Steel common. which
 carried 1t to a high record for this move
 ment savored strongly of manipulation.
 though trade conditions. according to com
 potent authorities better for the eur
 rent month than at any time m tns ms tory of the industry.
 Manipulation was also marked feature of the movement in copper shares, the
 strength and activity of Amalgamated ana Anaconda being accompanied by reports or were helped by an increased dividend tn the shares of a minor company and the firm ness of the metal In London:
 cursory glance over the list shows that the days business was limited fin large part to half a score of the more active issues. Trading in the afternoon was hardly m ing session. business falling to relatively small proportions though prices were noia- Ing firm.
 | iy offered at sh per cent. but this was | hardly sufficient to offset the steacy sell | ing, much of which was presumably induc- | at inc weeks end Aside from the further ! rise in Anaconda copper the list was reac- | tionary and lower. Great Northern losing
 practically bois all its ssnR SaR ,o%er The cios | ing was active. but irregular Some ground | was recovered by the banks in their op- | erations at the suo-treasury but tneir JOSS | is still in excess of $4,bO0,0OO.
 The only railroad return Of importance | was that of Chicago and Northwestern, | showing an increase in gross receipts Tor Bonds were easy. Total sales par value | s1, 755, 900 United States bonds were all un- l changed on call
 NEW YORK CLOSING STOCK LIST.