The Montgomery advertiser., 1906-11-14
THE STOCK MARKET
SUBSTANTIAL PROGRESS IN RECOVERY
 or PRICES.
Lack of Pressure on Account pf London Set tienenf and Reappearanee of st. Paul Subscriptions Important
 Factors in Movement.

f New York. Nov. I3.-zThe movement to- yard recovery in price of stocks which was distinctly initiated in the latter dealings Of today The asmsns Sas sAinsi nos laree Rs0ssss nns conspicuous movements were restricted to few stocks which have been favorites ih ecvery, The nsht demand was made sf-
 to- as Which as 1as m Sf n sAs
 aay by reason of the withdrawal of credits from speculative holders on margin.
 There was much less calling of loans to- day and less difficulty in securing fresh acoommodakfon. It was assumed that this wss s, due ; p.Ttly I to the return to the money subscriptions Of new st Paul stock, which called for some $I2,eoo 900. The stock bie progress. and without further urgent pressure on New York for retirement Of stocks held in that market This afforded day for the settlement is fixed for tomor- row Money and discounts were firmly anraistakabiy to effective reiief of inc tss tenl sion in that market. The violent jump in she rate for sterling exchange in Paris Of kive remittance of capital was being made from that center to the English capital in lurtherance Of willingness of the Bank oe France to assist the London money market, expressed in the important statement made by the bank authorities to the Associated
 The ioossning of the purse strings of the Paris market for the benefit of the London markets opens up the more important re- to the worlds needs and marks distinct departure from the recent policy of the eai opIno has beenp apPy pree,v orsis fRaa a relief measures were called for by the Unit sd states Treasury in view of the part play ent qutetness of fnensy. The reiterated re- fuaals of the Secretary Of the Treasury to adopt any immediate meaauret, which were TNhnAtA6 SHffAV Ra t~t1ln nfnA fm point the expectations of relief by this means, which thus were expected to ease foreign money markets as well as our
 The appearance of the Secretary in wal Stret today gave new circulation to rumors These rugnors had their part in the early strength of the stock market. By the more sub stantiaI bask of a,, easter tone in the mpney market. without the help of treasufy measures
 efforts had been made to exaggerate the money ,1.n s:s strinssncy tn Nprd to impress the relief and that today's rsisxation rnIrbt bs due to the abandonment of these efforts.
 The course of the money market seems sufficiently explained by the lack of pres sure on account of the London settlement. the reappearance of St. Paul stock suh- scsiptions In the money market for out of rates. and . subsistence of the movement of currency to tho interior. The reports of sstiement or the wage disputes on some nf the railroads was ahefp to the market scme sentimental effect was produced by the reports of agreement at Washington on a pian among the advocates of law per-. mittinE emergency bank note issues The special strength of St. Paul found no ex- planation in any news. beyond divided ri- mors of rights of subscriptions to further stock issues.
 The opening money rate of 14 Der cent proved to be the highest of the day With the decline. railroad stocks advanced grad uallyi but quite steadily. Profit taking caused some reaction. and while the closing was generally below best prices. the tone was firm.
 Bonds were steady. Total sales par val ue $l,Sso.00O. United States bonds were all unchanged on call
 CLOSING sTncx YIsr