The Montgomery advertiser., 1906-12-24
THE STOCK MARKET
WHOLE FIST AFFECTED IN SYMPATHY
 .tyr-- WITH READING.
The HUI Stocks, Union Pacific st, Paui and
 NoFthwostarR Showed Q Renewal VA
 of the Weakness Which Has a ssa s Affected Tkeua. s 4

New York, Dee 7z5 5--Reading was acuteiy dspresed tp today'sl stock market and the cd by any special news until tthe Rnnoupce- ment of the failure of, q house with stock sxehapge eonnsctions and q. hraneh eftlee accounts in Reading were carried by the house. The whole list vas affected in parison until the final break n the nasrEet after the failure was announced. TradeFe joined in the selling of Reading under the qpidation was based on disappointment over the stock
 and Northwestern showed renewal of the weakness which has affected them ever sinse the new stock issues of Northwesteyn the market was aggravated after the ap- pearnce Of the bank statamsnt. All of the meaKeF loan contFaetions was a disappoir1tS ment A reduction of the loan account of leEs than half . million dollars was regard ed sa an inadequate result to be shown af- ter the painful luuldation which has been going on the stock market during the week. The withdrawai of gold from the Bank of The approach of the critical stage In the dispute of wages of railroad yardmen In the neighborhood of New York was con trtbutoFy cause of weakness. , ..s ..... 2. ,t'
 The selling movement effectuRlly broke np the dulluess ofA the early trading which ie % TotaI sales S of boads 1caS par value Ssss, 900.
 Speculative fhodinRs of stocks have had q sharp shaking out this week and the money situation and has been reflected in the quiet stock market which epsued. v The great issues of new capital by the foremost influence. the st Paul issue this week coming on top of the Great Northerp and Pacific Issues and with cumulative ef- feet, Those stocks have been the nenter of the speculation and have borne the brunt of the selling pressure, the threatened az os these offerings had its share in the tnflp4 enoe they exercised but the question of dtiu- tlon of capital in it's effect on the pEnpor1' donate claim of the shares to earnings was slso taken into consideration. The sleg- 000000 of new St. Paul stock, the &s0.oe0,-
 S6 NSFthsFR Pneso n serve make c formidable aggregatef It has been the general supDosition .thgt the terms of the subscription and detayea issuS for the Great Northern and Northsfn Pa- man is interests. FaSmsnt Of iRietsst on the issue of the stock deferred fo more than a year makes the Union PaeiHb treasury tn effect, a lender of capital foF the use of It's bu lness rivals. It is this condition which gave ground for the exposition that the Union Pacific holdings of Great Northern preferred and Northsrn Pacific were Gom- ing on Athe market swith inSidsrs indisposed to support the st6eks. .-s-
 It was hepedf that, the reception of the St. Paul issue swould be more favorable aa being free fF6m this complication The violent slump ln that stock therefore weak ehsd confidence h the ability of the market to absorb such heavy capital offerings. Bnt there were completing factors also in this issue. In fact there has been no financial transaction in New York for neng 2eRrS ths st Paul stock Issue Ihe features sS. pseiaIiy objected to were the short notiee given of the ciasing of the books for sub. scrtptions to the new stock and tho pRoVts-, ioa for psypaest of, si0sOOo.O60 insteilinenG l Of subseEiptione on December SlBt in tue cFisis ot the stFafp Of the yeer and Nioaeg Hsttlemsnts' The eAsaipE, of the esokA .wtss