The Montgomery advertiser., 1906-12-12
THE STOCK MARKET
PROMINENT RESPONSE TO EFF0Rrs or
 SHAW.
Prize Lsvea at the Opening of Session Was Alnost enaemodfc in Tits Violence
 --Sterline Exchange Re-

New York. Dec. il.--Thers was preIni- nent response today, by the noney market and steck market to the relief measures py stringency. announced At wsshingten after the market had closed yestur Say. The price level at the onenine of the stock mar There were successive advance oy sueden inroads of large buying orders At difterent psrioas during the day osr hs AssanSs s sSss Mas 10 Der cant There was furry to ls per cent late in the day. but the rui!nE rate wes ioxsr thsn the opsnins. .,,aA., r.souna from it's rapid fall ofsyestsr4ay toward the gold import point and the feeling of reiief n LOsoc .ssr ~ n that marsts resoarcss was so great that the open market rate TOT discount rataa there rscsdad. There vas . cSIase Setions at gsa'l3a shs ssooK R s1chanas. @ '
 The emphasis of the response to the ac- tion of the secretary of the treasury was q opinion that the ancunt of asaiatAnee se re- suit to the money market wanla ee nlodef- ate 1t Is not guppcssa that any means so be supplied by the plaa became lnne dfAte. iy available to tha snenay market tnday and 1t is considered probable that there may ee considerable delay in the total amovnt ee- deposiss I,s to be made With the banks bat $1.5oo,e 900 comes directly to New 4erk banks, the remainder beink dtstributsd Likelihood that these outside banks will have to make efforts to secure proper bonds as security for the government: The ofter td purchase government bonds ts always slow to bring response, and the terms of fared by the treasury provide no premium over the current open market pric" for the
 The ready response of the stock market to this influence was regarded before as ev- idence of the strong latent sentiment on the buying side which existed in the market Is was evident also that short interest ot unsuspeeted proportions was left In vul- nerable position by the casing ot the money market. The technics of bear account ID the stock market involves not enly the DOT rowing of stocks but the lending of money. The recent high money rates. therefore. u1- fered attractions for short side of tho mar kst not only Tor the spscnassNs psnss hat Sor u tbe speculation today was largely consested Tn stocks which are the recoanioea IaV9Tl.ss ss for operation by pools and groups of large = The jump in St. Paul was accompanied by rumors of an early announcement ot and Afnaigamated Copper were affected by gossip of intended dividend increases
 An over-e extension of short interests was credited with special influence in the rise in Canadian Pacific to arecerd price; The sub-treasury continued to absorb funds from the market and Si50,000 was deposited Tor transfer to New Orleans Is was % ss5 sSSysSt government deposits had been set asioe TOT san Francisco notwithstanding the large part played by demands from that city m the depletion of cash holdings in New York. Money brokers reported the time money market sentimentaliy easier but no large amounts came out in offerings, Profit tax ing unsettled the late market somewhat aho the closing was irregular.
 Bonds were steady. Total sales par value 75s2, ,00e. United States bonds were en- changed on call
 NEW YORK CLOSING STOCK LIST.