The Montgomery advertiser., 1906-08-10
THE STOCK MARKET
BUYING or PENNSYLVANIA THE
 ONLY FEATURE.
Its Influence In sustaipipG the Fall ing Tendency of Prices Efse- where However was Less Effective Than Pre-
 vfouefy

New York, Aug. The large buy ing or PennsyIvania today was again about the only feature of strength in the stock market. It's influence in sas- taining the falling tendency of prices elsewhere was less effective than yes terday, There was not much in the way of news development to account Gs sa se t wsa ssangs agrseiS das s to the fact the decline in prices yesterday and the inference from that fact that dis tribution of stocks was going on rom the hands Of influential capitalists
 Tht belief that they were following such leadership sums up practically the whole motive Of the recent oper- ations in the market on the part or the speculative element. The convic. ton in that quarter that the great capitalists of the country were Accu- nnulating stocks originated about the last meeting of the directors of the United States. Special effort had been made to secure quorum for that meeting and while it was %announced that no action had been taken on the question of the next dividend there was a widely disseminated runor that decision had been arrived at which i would be formally announced at some future meeting of the Executive Com mfttee. Apparently speculative opinion had pitched on today's meeting of the Union Pacific Executive Committee as the one to announce the long expeci- ed developments on which ttat stock 1 mas risen TOT SeNGEdA WGChs WAhh SSttN pathetic effect on the whole trans continental group. The adJournmen.
 nouncement that only routine matters
 nonucement that only routine matters | had been considered seem to shake the 1 belief in the intended increase Tn the 1 dividend and the inauguration or dlv- l idends on Southern Pacific: With con l fidence shaken in the truth or rumors, which had played so important part l in the speculative advance in prices, l the suspicious attitude towards the l movement, which has been neld m many quarters from the outset was l strengthened. The expressed grounds ] for this supposition had been supposed | desire for the very large and well in- l formed holders to secure IaVoraoie
 basis for distribution or their nogs ,: l The money market also gave declsive evidence of the tightening erect oL | the beginning of the demand from the l West for the purposes or the narVest. The calling of loans placed nSre dsy py I rnand for actual cash from the inte- | riop showed plainly that the season l able demand for funds now due was
 setting in, the payment or sunsScriPps Ss ps also making the banks losers on ene | sub -treasurer's operations. The an- tended re-deposit with the banks oi 1 Government funds apparently h sns oeIayeu rs. serves The money position at rAItss rs has been materially strengthened slnce the joint competition of Parls ana tns Bank of England put 2 stop to ne sne for New York account. The late de-
 veiopment of strength in southern Pa, eifc onset to some extent the. enecl | of the weakness in Union Paclnc..anno '
 rally In prices repaired part ol
 inc extreme losses. The closing was
 quite firm.
 Bonds were steady. Total sales par
 value. $2.155,00 U. s. bonds were al
 unchanged on call.
 ~vw WORK cIogfNu STOCK LIST.