The Montgomery advertiser., 1906-08-15
THE STOCK MARKET
MARKET FOR SECURITIES WAS
 VERY DULL.
There Seemed to Be . ReIinquishment or the Vigorous support Evf- dent Throughout Recent
 Htse In Prices.

New York. Aug IA .--The market for
 securities was too dull today to war
 rant anything but negative conclu-
 sIohs. Ihere seemed to be a relinquish-
 ment of the vigorous support which
 mas been evident throughout the recent
 rise In prices. Efforts to carry prices
 upwards were desisted from and the
 market ieft to take care of itself to a
 large extent This was not without It's effect on the tone which became Intensely dull and rather soggy. The speculation showed the want of the customary stimulant which has been
 administered at short intervals, some
 times by an actual news occurrence and when this was lacking by diligent
 rumors of expected developments
 which proved even more effective than disposition to await the outcome of some of these rumors. Assertions have grown very positive that this weeks
 meetings of the authorities of the Har- riman Pacific railroads will take defin- ite action towards the placing of Southern Pacific on the dividend list and Tor the increase of the Union Pa cihc dividend. Expectation is almost ment of St. Paul rights this week. These expectations have been so often disappointed in the past that spirit Of caution and to some degree of scepticism has grown ap and was re- f1ected ir the days operations in stocks. This spirit was fostered by the failure to act by the Canadian Pacific direc- tors yesterday on the supposed plan to distribute bonus to the stockhoid- CTS as result of a large sale of the company's land holdinge That stock was weak in consequence, in spite of the statement showing extraordinarily favorable results from the years oper- ation. The surplus reported for the year after the paying of the dividend was $S.26S.0S2, compared with $1,7S4,- 55s; But holders of the stock appar- ently did not feel compensated for this showing for their disappointment of extra disbursement expected. A sim liar effect on sentiment was produced by the conservative tone on the ques- tion of increased dividends in the ut terances of President J. J. Hill of the Great Northern. There was comment also on a tone of seeming levity in the quoted references by that gentleman to the persistent rumors of the ore lands deal. 1t is to be said of the market. however. that in spite of the withdrawal of active efforts toward lifting prices there was little evidence of damaging pressure to sell. Sup porting orders were offered on an early effective the market principally be- came a drifting match with the trad CTS almost completely idle at times. Yesterdays reports of gold engage fusion owing to the failure to identify the institutions in New York which had made the engagement. Foreign exchange authorities professed to see only a loss in the reported engagement under yesterdays condition. Foreign exchange advanced today and hard ening on money market resulted. Sterling exchange at Paris, however, advanced again and reports from that center were to the effect that loans were being secured there for New York
 This would indicate that apprehen- sion in Paris over the Russian out look had so far subsided as to permit a realization of the hold on money re- sources. The weekly bulletin or the weather bureau confirmed the feeling of confidence over the maintenance Of the improvement of conditions of the crops reported in the Government statement. The special strength of some of the winter wheat and corn carriers was attributed 10 the high crop conditions. The recom- of the Executive Commit tee of the Consolidated Gas Company to maintain the present dividend rate, although 1t would seem to relieve a fear which caused recent weakness in that stock was greeted by decline. changed, but asking rates for time loans for sixty and ninety days were raised to per cent and for five months and six months to 6 per cent. Prices went to the lowest in the last hour and then recovered to the best Of the day, closing firm.
 Bonds were irregular Total sales par value, $1,325, 900. United States bonds were all unchanged on call.
 NEW YORK CLOSING STOCK LIST.