The Montgomery advertiser., 1906-08-14
THE STOCK MARKET
MODERATE BUT PERSISTENT ABsoRP-
 TlON OF STOCKS.
Movement was Balfine and Irregular Dur in Early Session, and Bulk of Business was in Congest-
 ed Specialties.

New York. Aug. 11.-There was moder- ate but persistent absorption of stocks in ne, toaays market. which had the ultimate eIIect or lifting prices to a higher average level The movement was halting and irregular in the early part of the day and uida,ions which were eiven an unfavorabie tenor in the current opinion. The bulk or in sw , business was larFey S%s S0hessese tsose Of this class which have been most effect i've in their sympathetic influence on the prominence with the result that the gene ral price movement came into accord with srn Pacific haxe % demonstraesd ,on 0 tSeir @ cspae fty many times recently to carry the list with them. The buying today which proved impression of accumulation by well inform ed insiders as to coming developments re- which attempted to give shape to these developments offered no novelty and were devoted to the ex3ected plan for financ- s. Paul to the expected dividend increase on Union Pacific and the regular dividend on Southern Pacific which rumor today fixed quite explicitly at the four per cent rate. An unsettling influence in the early deal. which resulted yesterday from the deter imitation to coliact the double fare. The Interborough Metropolitan stock moved influenced by the statistics for traffic for the last quarter over the Manhattan Bor- o snd ey the of ea money market proved restraint on the early speculation and this was not relieved at once by the news that the $2.5o0,oo0 of gold arrivals in London has been secured for New York. The effect of the engagement en the London market was so pronounced effects from it's extension which might ha reflected again on the New York market The price of gold was bid up penny ar, ounce in London in order to secure the gold and money and discount immediately rose. The stock market there was also affected by the prospect of dearer money and some selling of securities In New 4ork for the account was the result. There was some easing In the call loan rate later here .hs ovd day New t ,ftesn cenfs diseount compared with twenty-five cents discount at the closing last week and forty cents reiaxation for the time of the interior de- mand upon New York thus indicated. Sub-treasury operations also promised some this week, and a delayed effect is looked for from the redepostts of government funds with thel interior banks which have subscriptions The decline of upwards of s5.00o 900 in the value of July agricultural exports caused by the heavy falling off In the cotton outko. a factor lacking as-' surance for the international exchange sit-
 The small effect Of the provisions item packing agitation was considered gratifying from the standpoint of the financial mar kets The days gains were not fully nain- tained to the last and the closing was
 Som Some of the low interest bearing bonds were offered down apparently in sympa- thy thy Ns sS Tos Sne pree General haSe settled with the dissolution of the under writing syndicate
 sales par value s1, ,360.oo0 United States bonds were all unchanged on call
 NEW YORK CLOSING STOCK LIST.