The Montgomery advertiser., 1906-02-22
THE STOCK MARKET
PRICES TURN DOWNWARD BE-
 CAUSE OF LACK OF SUPPohh'
The seu~afsxe Condition of the Money Market Thought to Be bsa Angury for q Revival
 of Speculation.

New York. Feb. 21.-Prices or stocks turned downward tocay and little eNl- dence was left of the hopeful specuaa,~ tive sentiment with Sancv wnien tnf in nrice was due as much to lack oi anRt fons as to any active pressure. Iransac l'e, uo,rs were not on large scale pns 'he ae,ma,td languid and insufficient. Tne s.sauy dribble of liquidation met no lhipoi p,.,, Ie1.s s buying orders and there was mar Aeo
 There were no important news de- velopments but speculative opeIatoIs very generally felt sense oL uisap
 pointmert over the action or tns ma
 ket yesterday and It's easy yielding to the furry in call money late Tn tne ua1;; The sensitive condition thus lnoicatssn. su. in the money market was neH to ~ res ss Vive active speculation. The IoW cvvn vt dition of the banking reserves ana tne many requirements ahead or tne ina Ha,-
 ket make the recurrence or sucH hui ries from time to time. ..a
 Time money was not notably anecteu today by yesterdays developmen.s sn, 1r call money. With the easier rates io. lime loans, however, an effort had been produced on the interior exchange on New York. The rate at Chicago Wblct lt
 ruled at 90 sdns psr nseh seht to small dis count Some attention is given to hns 's minor disturbances in the pan kns
 field. 4 detailed estimate aPPehareena aPPh eoaal dn Wall street during the day Of the lcau- | ing bond. debenture and stock IS g: =. steel have made their appearance sihcS ,s | the first of the year which oHeISd al, :, aggregate of $45S, ,350.50O, not including municipal issues by smaller coIpoItA- | tions The list includes only securitiess | isued or to be issued immediately anu | does not include totals newly author | ized but not issued ar once 1t is estimated that about 2S per cens | of new issues Is for refunding puTposss
 or for the purR0set t6e Sf Stner of new icapital called for is insufticiensiy itso .o posing and is expected to be added to
 largely in the immediate futuse. e the,r For,r l influence on the stock market Dy req
 son of the money situation rather thaH any feature of the, future values oi l futures in New York.
 She imminence of holiday for this market had q deterrent effect on speculative commitments: The pay occurs tomorrow and the fear of some trouble in that connection added to the dislnclination to trade. Some os the days movements indicated a feeling of
 misgiving over the rumoTs afioat which | have been so large an influence of late. The deIarture from the city of presi-
 dent Hill without anouncement or tne
 critics of which he Is the head was accountable for the sharp decline In those stocks. Less confident assertions The views expressed by the president of the United Mine Workers as to the l chance of settlement of the labor I controversy also were discouraging Sub-treasury operations have turn ed against the banks with the with | drawal since the bank statement of I $2.642,00O but heavy debit balance today at the clearing house indicated l an adjustment of this drain by the tgoyernInent. The covering of short l contracts by the board room bears | decline made tbe only force towards | the late feeble rally in the market and
 the closing was generally easy.
 Bonds were heavy. Total sales per
 value, $2,230,000. U. S., bonds were all
 unchanged on call.
 NEW YORK STOCK LIST.