The Montgomery advertiser., 1906-06-08
THE STOCK MARKET
OPERATIONS BY PROFESSIONALS
 STILL CLEARLY DIsCERNABLE.
Character of the Trading Made Itseif Manifest by the Concentrated
 Nature of the orders In ' Individual S<ocks.

New York. June 7.--operations by 2 professional organization were stili clearly discernable in the stock market today and made up the largest propor- acter of the trading made itsef mani fest by the concentrated nature or the orders in individual stocks and by the rotation of dealings of this kind from one quarter of the market to another. This accounted for the spotty appear
 ance of the market and the intervals of idleness between spurts or activity in one stock or another
 It thus happened that some Of the most prominent stocks in the list were not brought into the movement at all and the market showed no comprenen- :
 sive movement at any time. such as IS evident when a general public interest is at work. The stocks which had
 come newly into favor late in the day
 are the ones generally that end near
 est to the top level, while the earlier
 favorites were related to a less con spicuous place or were carried back
 ward by the process of realizing profits. The result of the days professional CT,
 forts to advance prices was resardeo by it's authors with contentment, so far as could be judged from their persist
 ence in the attempt and their express ed confidence in the success or the cam :
 paign in bringing ultimately pubic demand to provide a medium for real izing profits.
 Commission houses continue to coni- plain of the absence of any such public demand and of dearth of orders for execution in the market. The move ments of individual stocks generally had some item of gossip to accompany
 but these lacked official conflrmatio
 and in some cases were clearly based on surmrise. St. Paul was still brought on belief in coming stocks subscrip. tions rights and the known approach or new issue of New York Central stock already authorized made the same ex- p1 apatinh av9fiahlA for the movement in that stock.
 Union Pacific was the subject of ru- mors of a distribution on Southern Pa eifc from which It would benent by its large holdings. Illinois Central was affected by belief in dispute for con trol of the property, Reeadlng ana Amaigamated Copper moved under the inferences San Francisco sent another important consignment of cash to New
 York by telegraphic transfer through
 sub-treasury facilities and foreign ex-
 change rates made further progress
 towards the gold export point, still some distance away, however. Bank
 CTS admit mat with continued How or
 money to this center and casing of in terest rates, some of the recent large
 imports of gold are likely to be re- turned when they came.
 Bank of England did not meet the expectation that il would reduce us official discount rate and the report Of conditions sufficiently explained why it did not. Sterling exchange at Paris and Berlin also moved against London and the Paris market was further dis turbed by the prospect of the enact ment of an income tax law. The fur- ther rise In wheat was associated with reports of bad weather conditions. The price of silver suffered a further vio- lent reaction from its recent extreme rise, thus demonstrating that the rise was due to an overbought condition of the market The realizing, which was more or less in evidence all day. became | more pronounced at the close of the day and the closing was heavy. Bonds were irregular. Total sales | par value s3,660, 000. United States old As advanced 1-S and the new 4s 1-2 per rent. on call.
 NEW YORK STOCK LIST.