The Montgomery advertiser., 1906-09-15
THE STOCK MARKET
OPERATIONS ON LONG SIDE ARE
 RESUMED.
Day's Strength Was spotty, Contrast fng With Hesviness at Pofuts in Process of Manouverfng
 to Take Profits.

New York. Sept 14.-Operations on the long side of the stock market were resumed in sufficient volume today 10 erect turn from the downward course or prices In progress yesterday. Tie one point contrasting with heaviness st others in the process of manouyer- ing to take profits. The room trading element was skeptical of the market and put out short lines in the advances. The principal operations .centerei in the Coalers especially in. Beading. Much of the activity in that stocA was Rumors to account for the movement revived reports of an intended jlyest- ment of ownership of coal properties by the railroad companies- This re- port has reappeared at intervals ever since the publication of a judicial de- c.sion which seemed to indicate the iilegality of the present ownership In rlal. transported as freisN by the Coaiers. Details were not forthcom- ing of the plan but the speculative SssuImption ys,,I was that large pronts arrangement. The rise in the Coalers on this assumption was in contrast to the foemer favorable effect on those stocks of taking over of coal mining properties. Other stocks which were notably strong had special causes as- signed There were some conspicuous 6oRS tue llUt OI dQNduCIuS pTtCtS and, some recent leaders wers held back throughout the day. The per gent dividend came of the price of Union Pacific and instead of attracting demand there seemed to he selling by those who had held only until the divi- dend to accrue to them. A number of industrials figured in the days ad- traSe D whes thes wers or. in the affairs of corporations them selves Estimates of bank statements pointed to. favorable return tomor- tho speculation. The increase in cash for the week was estimated to be In the neighborhood of $15,000.009. The payments of recent gold engagements ehroad, except today's payments of s1.775.0o0. which brings the total pay nients on that account for the week revenue payments and for telegraphic transfer to fnteriorN points and other routine sub-treasury operations leave banks bar ~ at only " si5. @ .oas. % .ooo. This 'G is 'ns small offset to this gain in the move ment on balance by express to the interior, which Is estimated at but d pared with over s5,000 900 last week. This relaxation in the interior demand for currency contributes much to the statement. The luther advance in the sterling exchange rate today decreased the command by New York on gold in, London. Attention was given to a re- rort also of semi-official statement of the unwillingness of the Bank of France to release gold for shipment to New York. A fall In sterling exchange at Paris today lessened the prospect of gold-moving from that center to London. which has been canvassed as an indirect method of renewing sup- plies available to the New York de- mand. The late furry in money was attributed to the proparation for some large dividend payments due tonor- row. the principal of which Is the $S.000.000 payable to Standard Oil stock holdera This proved a restraint on arv sympathetic response to the buoy rhnt upshoot In Reading and made an irregular closing
 Bonds were heavy Total saies par value. $2.066,00o United States bonds were unchanged on call.
 NEW YORK CLOSING STOCK LIFT.