The Montgomery advertiser., 1906-03-17
THE STOCK MARKET
NO MARKS OF EXTENSION BEYOND
 PROFEssIONAL LIMITS.
Volume of Trading About the Same as That of the day before, But Was Largely Cougested In
 the First Hour.

New York. March 1s.--The stock market showed no marks of extension beyond the professional limits which have bounded 1t all this week..The vol- ume of trading was about the same as yesterday but was largely congested in the first hour during the continued ef- feet of the weakness of special stocks which developed yesterday.
 Some sympathy effect upon the gem eral list was shown while this further weakness was manifest this morning, did so when the weak stocks rallied. Missouri Pacific added two points to It's sudden drop of 1-2 yesterday be- fore any effective support developed. ther disorderly decline. The Chicago Union Traction stocks, however. seem ed to have reached the limit os the vio- Mnak feature o ss to reeover slow hardening tendency In the general mar ket asserted itseft more effectively.
 Louisville and Nashville was cons spicuous figure in the advancing ten dency The only news on the stocks was the revival of rumor many times heard before of a proposed increase in charges for carrying the control of the property by the Atlantic Coast Line holdings. The narrow movement or the U. s. Steel stocks on the publica- ample of the professional limits Of the market and the languid interest in 1t; The impressiveness of the details Of the vast and complex opera tions shown in the report Is not tho kind to appeal at once to stock market sentiment. The general terms of the annual Income statement was sufficiently well known already
 Tho continued firmness of the call money market and appreciative ad- vance in the interest rates for time loans was disappointing to the suppo- sition that Wednesdays dividend dis burseinents were alone responsible for the ffrmness of the money market and the effect of the free distribution of dividend money should be felt in the money market by this time. The esti- mates of the weeks currency movement Indicted a gain upon balance from the interior by express about sufficient to offset the loss on subtreasury operations This is the contrast with an estimated loss of. over million dollars to the in- terior by the express movement of last week. New York exchange at Chicago, however, fell back to a small discount today after having ruled at premium early in the week.
 Foreign exchange also reacted slightly from yesterdays strength all though foreign money markets were of the strong recovery in foreign ex- change this week is attributed to the demand for remittince on account of the maturities of large borrowings from foreigners. It Is a question what effect this repayment of obligations to foreign markets may have on the loan account Of the local banks. The for. eign trade statement for February showed the gratifying excess of value of merchandise exported over imports of $37,517,766 compared with only $3.- 7S6,36 in February of last year.
 This weeks exports of grain, how ever, show falling off of over half million bushels of wheat and of over quarter of a million bushels of corn compared with last week. Stocks clos ed at small general gains, but with the tone barely steady.
 Bonds were heavy. Total sales par value $1,695,000. United States bonds were all unchanged on call.
 NEW YORK STOCK LIST.