The Montgomery advertiser., 1906-09-07
THE STOCK MARKET
STOCK MARKET AGAIN SHOWED
 sTIMULAING EFFECT.
Order of Treasury Department Permft- ting Deposit of Government Funds Against Fold for Im-
 port Had E6ect.

New York. Sept e.--The stock mar
 ket today showed some stimulating
 from the Sr9sr of ths ss soT
 ernment funds with national banks
 against engagements of gold TOT ln- port The effect was moderate, partly
 by those who bought stocks on the confident assumption yesterday that action was imminent by the Secretary
 of the Treasury for the relief Of tn. the fact that the call money maket did not show the expected relaxation as to the result of the news. AS the measure of relief does not become op,, increase of banking resources was nm, mediately supplied, but It was hoped by operators in stocks that the assur- ance of new supplies, although delay. ed, would cause freer offerings of crdeits and relieve the stringency at ! once When this was seen to be douot- ful the speculation was inclined to take a waiting position. Good resis-
 tance was shown to any selling pres sure and prices were sustained py the conspicuous strength of some of the | speculative leaders in the list Of stocks.
 S9 actual steps were ,s61t,9as ann1gmcea eromo 10 ised by the Secretary of the Treas
 ury to help the gold movement. No doubt is felt among bankers, however. that a considerable inward movement
 of gold will follow. The use, of gov | ernment deposits may extend under | the order to arrangements or goId
 made by the banks either before or after the going into effect of the
 order. Gold in transit to New York | next Monday will give the consignees the right to the use of government | funds until its arrival as well as the
 gold engaged on or after that date. The order makes no restriction on the time that may be required for the re- ceipt of the gold if IL has been actual lNr NF, ,erOs rad cht d
 make It feasible to buy gold in Aus tralia. Japan or even in South Africa and make the proceeds available for
 use in New York from the date of pur. | charges while the bullion is in transit There was much discussion of the probable adequacy of this means to
 ease the money market. The time
 money market seemed to be unaffec- ted by the news and loans for sixty and ninety days still commanded premi- | ums equivalent to seven and a half to eight per cent. with six months money
 lending at 1-2 to z per cent. The on- ly lenders in any amount were for | transfer to the interior through the
 suotreasury were offset in the daily
 mary government disbursements to
 the amount of $3.00O,0O0. leaving the
 days loss by the banks only moderate The government institution has taken | from the banks since the last bank
 statement. however, s4.s2s.0Oo and $5O0.000 was deposited for transfer to
 san Francisco today. The money
 stringency here is bringing offerings
 in small amounts from widely separa-
 ted points In the interior which make
 an appreciable aggregate New York exchange at Chicago also recovered
 to five cents discount compared with forty cents discount on Tuesday. Read ing bore the brunk of sustaining the general market up to the late after
 noon on rnmors that control of Balti- more and Ohio was to be transferred
 to that company. The Great Northern
 ore lands report was revived later with effect on United States steel and
 Great Ncrther pfd. and a strengthen
 I inE influence on the whole market. ] been satisfied offerings of the unplaced
 remainder carried the rate on from
 twenty-dve per cent, the high rate 1t closed
 Bonds were heavy Total sales mar
 value, $3,152,0o0 United States bonds
 were unchanged on call. ""@
 NEW YORK CLOSING STOCK HIST.