The Montgomery advertiser., 1906-09-14
THE STOCK MARKET
FLUCTUATIONS UNCERTAIN ON PRO.
 FESsaONAL DEALINGS.
Demand Of the Short Interest in Coverinp Operations Fails Off Considerably and the Market Shows Lack of
 This Technical strength.

New York. Sept. Isl-There was indica- tiois in the days stock market movements of a growing aequiescence in the specula- ton on the part of large operators, whosa powerful resources have kept the recent market going through ali vicissitudes of uncertain and dealings had the appearance Of professional operations of the tradiae class. The upward movement was brisk eg the outset fin continuation of yesterday sharp recovery. But 1t ffattened out be- fore long and the market iapsed into dufler condition than for many week%
 The demand from the short interest foli off considerably with the reduction in thar market showed the lack of this technical factor of strength. This gave rise to an inference that yesterdays advance was a the shorts rather than resumption of i'm portant operations the long side. The rsastion ss,. of the first of the week was ,s holdings taken on in the course of support Ing measures during the stringent money marker of the week before and this sell inG incidentally encouraged the pulling out of short contracts which we're covered yesterday and this morning. The narrow ing process going on in the market by this series of movements is easily perceptible and todays later market confirmed the showing
 The professed motive for operations ir spec8aT stocks also showed the increase of tlIe professional element in the market. . pfospects The money market continued to relax and call loans were made through out the day at about 2 per cent. The rate to four per cent. but the advance Of fall per cent. to 4M per cent. was considered possible and the snore moderate action was taken as negatively favorable Further gold was withdrawn from the bank for shipment to New York, but this yesterday and 1t was supposed that the New York command of the banks supply of gold is now checked
 A letting down fin She price of gold ip London was viewed as sign. of the se' curity felt against immediate further talk ings. neither was there an engagement of gold announced in Paris for New York account The falling away Tn the local money rate has led to the retirement of which were placed here to take advantage of the high money rate. New York ex> change as Chicago also siipPsd S back to movement of currency to the interior and withdrawals of money for special payments to the gosernInent are to be kept In view as offsets to the weeks receipts of foreige gold
 Some restraint on the speculation was measures by the treasury department against a harmful money stringency by some of the means at command for releas- ing surplus treasury funds u the faarket. Further deposits of government funds with national banks, anticipatien of government interest payments, of redemption of govern nene 4s Of 1907. are alT considered avairS able means for effeeting this purpose.
 Belief in a coming increase in AnacondS dividends lifted Amalgamated Copper sharply and the Great Northern ore lands deal was a reyfving influence in the Hill stocks and on U. s. Steel The latter fell back under tne enormous weight of the selling to about 1T, and the following heavy tone in the market was affected by sympathy with this obstacle, There was buying of Union Pacific on the assumption that with the five per cent dividend off the price tomorrow buying would be at- traetcd.
 The lack of following up in the buying on the advance prompted the late selling movement which wiped out the early gaips level
 Bonds were irregular. Total sales par value s1,l46,Oeo. United states bonds were unchanged on call
 NEW YORK CLOSING sToeK FIST.