The Montgomery advertiser., 1906-05-11
THE STOCK MARKET
STOCKS AGAIN DEMONsTHATED
 POWER OF ABSORPTION.
Strength of Market Reasserted Itself After Process of Digestion and Ad- vanced to Hihghef Level Dur4
 fnE speculative Epi- defnfc.

New York, May lo.--The stock mar ket today again demonstrated it's pow CT of absorption of such offerings as came upon 1t to realize profits. The strength of the market reasserted it- self after this process of digestion and advanced to higher level
 While there is evidence of specuia- tive profit taking from day to day on the advance and some feeilng out oi stocks taken over by substantial bank ing Interests for the purpose. of sup porting the market during the acute depression there is nc slgn or any re newei of the Kind of lioufdation which undermined confidence in the general situation after the San Francisco ca- larntty and which carried the sinister import of the necessities of those iorSed to sell Money also con.in"ehn con n, s sss and industry has yielded no sign that forces of reaction were deveISpins there, such as it was feared might pc heralded by the slump in the stock market The work of recuperatlon m stocks therefore. is steadily pursued There was not much evidence today ot any added public interest m ar .ns st s.oSk nr1 ganixations operated with conhdence and In advancing prices. The metnou seemed to proceed from one stock or groups of stocks 10 another. In some cnses renorts were circulated. having a special bearing on the value Of the stocks concerned. The movement m New York Central was coupieu W,n revival of the old rumor, conbinatio with Chicago and Northwestern. Un, ion Pacihc was benefited by professeu confidence in the coming increase m the dividend rate. Buying Of the fiHi stocks was alleged to come rom n. side sources and was interpreted py the speculation following as eyidence that the iron ore land deal witn tne steel corporation was opened agaln. These are types of the Kind or rePorts that accompanied the dey's operations. Foreign exchange continued to advance here and an easier tonc of discounts tn Paris was accompanied by the contin ued rise in sterling exchange Iners;
 T this evidence of the cessation oI New York's demand upon the Bank O. England for gold and with the assur arace that upon its resumption tne Ic- quirement could he shifted upon ParIs. the ofacial discount rate, of the Bsnk of England was left unchanged today. The, shade of unrest manifest in tne wheat market over the unseasonapie cold weather was without erect on
 ks and the monthly crop report ot garded as favorable. The settlemenE of the lake longshoremen' strike was helpful to the market The special strength of the New York local trac- street % i railway travel indicated by the statistics of the State railroad commis.. sion and by the reports Of earnings or the companies. There was pretty con. stant pressure of profit taking against some of the stock which have risen previous to today and others came uns der this pressure as the day advanced after period of early strength. Tne market was kept irregular in this way ans el9sed sti ,nsay nder Tseal naes par value. s2.5so.0oo. United states bonds were all unchanged on call