The Montgomery advertiser., 1906-02-24
THE STOCK MARKET
sHRINKAGE IN THE VOLUME OF
 BUSINESS.
The Aggregate Dealings for tne Das Fall to n Lower Level Than Had Been Touched Tor
 Many Months Past.

New York. Feb. 23.-Todays sIock t market does not offer mucn Snpyshus rhs volume of business and the narroWlng of the limits of the market m every way were surprising. The assrsSaer assey level than has been touched for many months past How far this was que Lo the small remnant of the week iett ,st after yesterdays holiday must oe paie- ly matter for conjecture. s.,,
 That it was an influence in the duii, ness Is very probable as proIessiisonaai operators are, notoriously t aistnclnaishh ,,,ish to enter on large commitments Win interruption of trading activity III pros pect. But there Is ground for pMsliev. M
 Ing also that the. general speGuiatiaee ae
 situation is exercising a growing eI
 feet of repression in market acLlVity.. The high opening today in this narket was due to sympathy with tne Lonuo. Li
 market which had advanced Americans
 while New York was taking a hoI,
 day yesterday. These advances abroau were due to a number Of clrcunlstailceS.
 The successful completion or sIock damage was one of these. someWnht
 more hopeful feeling over the Moroc-
 can conference was another. A iuIthsg possible influence was the caolinE 2I orders from New York yesterday. which might be made sharply effective on prices in London owing to small noat- | ing supply of American securities there. A notable fact in the sagging Of prl- ces in the New York market was the small offerings of stocks necessary 10 effect it. Some influences in this result was attributable to the report of the 1 insurance investigating committee. Some of the recommendations Of the committee regarding securities so pc while not threatening any immediate results in the stock market. promise | the ultimate necessity of marketing very large holdings. Some restrlction | insurance companies in financial meas
 ures which have been of fostering ef- | feet in the stock market affairs in the past.
 The adoption by the House of the resolution of inquiry into coal land
 holdings by railroad companies kept l alive the sense of vigilant guardian
 ship of corporation affairs on the part of legislative authorities. A similar in-
 huence was produced by the fixing or | an eighty cents gas rate for New York
 mission. The usual preliminary esti-
 mates of the currency movements for | the week are brought down only to Wednesday evening on account of yes 1 The loss to the sub treasury of 1,413,- | 900 seems to have been overbalanced by about a million dollars by the re- ceipts of the banks from the interior.
 notwithstanding the movement of in
 terior exchanges against New York
 during the week. There remained an
 weeks movement of $2,500.000 which | did not appear in last weeks bank | statement and which may be expected
 therefore to affect tomorrow's state- ment.
 | As bearing on the loan item, some large bond transactions have occurred
 this week which would indicate re- | quirements for credits. Rates for time | loans were firm today and foreign ex-
 change rates were higher. The gradual , sagging tendency of the market eX- | tended into the last half of the trading. at which time low prices of the day were generally touched.
 Between that time and the closing of the market there was an abrupt re- covery which restored prices of a num-
 Der of the prominet active stocks to the highest level of the day and made the closing firm This late buying movement
 was unexplained by any news develop ment
 Bonds were irregular; total sales par value, $1,9S0.000 United States bonds
 were all unchanged on call.
 NEW YORK STOCK LIST.