The Montgomery advertiser., 1906-01-26
THE STOCK MARKET
ATTACKS ON PRICES RE-
 SLUT IN IRREGULAR TONE.
Speeulators on the Long Side Confine Their Operations LarKely to Protective Meas ures and Make No Aggressive At-1
 tempts to Lift Prices.

New York. Jan. 25s--The recurrent attacks on prices in the stock market were much day of the week and the irregular tone which has been shown for several days gave way to more positive reaction.
 The speculation party onN the long side of the market confined their operations large ly to protective measures and they made no very aggressive efforts to lift prices com prehensfvefy to higher level There were constant rallies from the recurrent reactions ket when the break in prices looked threat ening aThe closing tone in fact was strong the recovery had proceeded to. any extent renewed offerings of stock, came on the market This selling was in large part acter became perceptible the professional operators on the bear side offered prices
 Technical market conditions were the the only news consisted of run,ors regard ing the market position of individuals and parties. Of this character were the rumors as to the extent of the liquidation already effected by the largest operators in the re- cent market Very impressive reports were said to have been accumulated by million aire in the steel industry and which have been liqudated to take profits in the last
 Reports of the same character were cir uous Western speculative leader and the ef- feet was emphasized by the character of the advice sent out to clients by the commission houses with which this speculator is con nected Additional impression was caused which Tennesse Coal was let down over 10 points and then quite readily restored to above yesterdays price owing to the as sociation In control of this property of the interests advocating sales of stocks. The belief was prevalent also that an enormous been iiquidated. leaving the operators who had taken their profits disposed to with draw support from the market and to favor
 The continued active speculation in Union surmise over the coming dividend. The i'm precision was created bv the expression of ostentatious anxiety that much of the in formation pointing to the increase in the dividend has been unfounded. leaving ground for disappointment to those who have formation. As to the actual intentions of directors with regard to the coming divi- dend there was absolutely no authoritative information. The money market continued free from pressur" But the weeks move penishment of bank cash as has been shown | for two weeks past.
 sub-treasury operations have yielded to | the banks thus far this week only $1, 5TO GOO. | compared with $6,932.000 in the correspond ing period of last week: This does not all | to Mexico and Argentina which have de- | prived the banks of s2.55o,o 900 in the same day and the sterling exchange rate de- | ciined at Paris, The Bank of England in lion of upwards of s7,0OO 900. but the heavy | loan expansion of over S20,000,000 kept down the Proportion or us reserves 10 liabilities and indicated the continued policy of the | bank to strengthen it's control of the open | money market.
 St.. Paul. Amalgamated Copper and l Brooklyn Transit were sustaining factors in | the market through the period of greatest weakness and they rose to best again late | in the day when Norfolk & Western and | Southern Railway turned strong and led the general recovery with a strong closing Bonds were irregular. Total sales par | value s3.s60.000. United States new 4s coupon declined % per cent. on call. l
 NEW YORK STOCK LIST,