The Montgomery advertiser., 1906-08-22
THE STOCK MARKET
TRADING ON EXCHANGE AGAIN RE-
 MARkAHLY HEAVY.
Market Manifested Rroader Tone--Op- erations Embracing Number of Min0r Issues In the Railway
 and Indunfrfnf Groups.

New York Aug 21--Trading on the stock exchange was again remarkably
 heavy today. although somewhat below vesterdays large volume. The market
 manifested broader tone, operations embracing a number of minor issues In
 the railway and Industrial groups. Tho
 Hartman stocks were again decidedly
 active with tendency toward heavt- ness, the result apparently of further heavy profit takings. This same cause produced similar effect among cer-
 tain other issues which were prominent
 in last weeks advance. There was re nswed talk of Increased dividends Tn q number of issues, namely, Atchlson, Reading. Pennsylvania and the latters affiliated lines. Extra dividens were m : creased by Federal Mining and smell ing. controls of which is held by the American Smelling Company and by tho Republic Iron and Steel Company. Tnis disbursement by the latter company was was in the nature of deferred payment on the preferred stock Indications pointed to an awakening Of Interest on the part of the public but this interest has nov vet assumed sufficientiy large propor- tions to be reckoned as a factor. Buy- ing orders were more numerous at me opening and from all accounts stocks were well taken. Save for the initis' dealings in the United States Steet there was an absence of the previous days wide" openings. The opinion of shrewd observers was that tle ad : vance had gone far enough Tor tne
  looked for The money situation came in for more serious consideration, the rate for call loans advancing 10 nve per cent. yesterdays high rate early m the afternoon and to six per cent in the final hour when the list in general showed further recessions.
 Practically all over year -loans were negotiated at six per cent The con flrmed statement was made that one Q. the prominent insurance companies had availed Itself of the boom to unload .E .tA nd hay of a like sort was reported. An illus tration of the speculative character or the days prices was afforded by the
 formation of ns,r num6er ya,a of ppois peeara 1h ed with suspicion. In fact the utter recklessness with which much of the trading was conducted was perhaps the most favorable feature of the day A sensational rise in Great Northern pref erred was accompanied by reports that the deal with. the United States Steel properties in the Northwest in process of consummation. No confirmation or the story was obtainable during the
 market session. The great bulk of the days business was made up of half a dozes issues Amalgamated Copper, Colorado Fuel, Great Northern prefer red Pennsyivania, Reading and Union Pacific. humber of high records for the year were made in the course of the day but there was a marked decrease in the volume of business in the late session This was attributed in part to reports of heavy floods in Arizona and Southern California, though these were later found to be somewhat exaggeraf- ed. The closing was very active and
 weak, many of the days gains being
 wiped out and a number of net losses established. London, which reported a reactionary tone for our securities, traded actively on both sides here.
 purchases and sales, the latter predom-
 mating, amounting to about 7o,000 shares.
 Monetary conditions disclose a loss
 by the banks to the sub treasury thus
 for this week of about $4600.000 the re- suit chiefly of Panama Canal bonds payments. The sub-treasury made a
 transfer of S200,000 to New Orleans,
 and reports from the middle West sug-
 gest increased demands on the banks ot
 that section for crop moving purposes. Railroad bonds were irregular. Tn governments the new fours advanced IA per cent on call
 NEW YORK CLOSING STOCK LIST.