The Montgomery advertiser., 1906-01-16
THE STOCK MARKET
THE UPWARD TENDENCY OF
 PRICES IS CONTINUED.
Conspicuous Showing of q Glass of se-
 Talents as .Cats and DOgs."

eurItae~ Known to the Wall street Talents as "Cats and Dogs" 
 New York. Jan. 15.-The upward ten dency of prices to-day was continues but the movement was dinused inlo some outlying quarters of the market removed form the usual centers or aeT tivity. There was a conspicuous show ing of class of securities known III
 brokers parlance as Cats and DoRs. The reaching of a speculative move. ment into the depths of the stagnant portion of the list only occurs fn pc riods of great speculation. It Is view ed with dissatisfaction amongst exper-
 fenced spectators owing to the fact that 1t is a feature of the continuation of every prolonged speculation, Dur ing the present speculation. however,
 stocks of this class have already been stirred several times without marking the culmination of the upward move ment of higher grade stocks. The tra- dition of the significance Of their awakening therefore loses some of it's force. The turning If the demand to- day in the stocks of the lower grade was much more conspicuous in the in- dustrial and miscellaneous stocks than sustaining forces in the latter depart ment were still for the most part amongst the high class securities. The Northwestern Changers and Pa group. Chicago and Northwestern and it's subsidiary stocks and St. Paul all rising notably. There was a continu- lance of very extensive profit taking which characterized last weeks mar ket. The opening of the week brought in considerable volume of the new out side demand and was taken advantage of to lessen the accumulations which were piled by spectators during De- cember. The large transactions for &C., count of single individuals were taken to indicate that some of the heavy operators were taking their profits on
 
 Operations of the same class on the buying side were Atraceable in the stocks which made new advances and this caused the supposition that specula- tive accounts were being transferred on a large scale from stocks on which large profits have accrued into those which have moved but moderately pecially marketed in the Southwestern Pacifics. copper securities and some of the coalers. The news of the day to account for any of the movements was very scanty beyond the continued re- taxation of the money market.
 The time set for the dividend on Amalgamated Copper keeps alive very Union Pacific was also affected by divi.: dend conjectures. The sluggishness of the coalers may have been due in part to the assembling of the Mine Workers tranquil view of the Moroccan confer ence upon the eve of its convening.
 Discounts hardened trifle. however, in London and Berlin. and Sterling ex- change fell back Q fraction in Paris.
 Gold was marked down in London. Foreign exchange was ffrmer here: The
 reflux of money to this center, how
 ever, continues on such q large scale as to obscure the significance or the foreign exchange market. The sub treasury operations have already con tributed to the market since the bank statement, $4,417.00O. Time lonas for sixty and ninety dave were made as low as 5 per cent. The strength or United States Steel preferred was m grade materials. The constant profit taking made more impression on prices late in the day than at any other time
 The closing was fairly steady, but at only slight rallies from the afternoon reaction. Bonds firm. Total sales par value, $4.77o. GOO. United States bonds still unchanged on cali.
 Chicago Grain and Provisions.
 Chicago, Jan. 15.-Report of damages to the crop In India and Argentina created strength in the wheat market here today, first on the May delivery, being up 3S O 1-2c The wheat market was firm for the entire day. At the opening the May option was up IA @ 3-Sc to 3-s O 1-2c at Ss 3-4 to sS 7s. From Argentina came reports of con- tinued rains which 1t was believed would greatly delay the movement of the new crop. Reports from Indian were to the effect that wheat had suf- fered damage by draught which was still unbroken. A minor influence was the small shipments from Russia, the movement for the week being I74,O0O bu. against 1,064.000 bu. one week ago. There was considerable selling on the early advance by houses that were leaders in the buying of last week: This resulted in a slight reaction. May selling off to SS 5-S before the end of the first hour. At this point the houses which had sold early in the day became active buyers and the market quick lv reeained its former strength. May advancing to s9. The close was firm with May ST 7-S.
 Early in the day the corn market was firm on active buying by commits sion houses caused by reports of wet weather throughout the middle west. Later there was heavy profit taking which coupled with an official forecast of cold wave for Kansas and Nebras- ka caused the market to give way. The close was easy May opened a shade to Ac lower at 45 to AZ 5-S, sold off to fl 5-s O 1-4 and closed at 45 Is.
 Oats were firm earlyin the day, Tn sympathy with other grains. Later te2 market ceased on profit taking by local traders The market closed steady. Ma, onened unchanged to shade higher at s2 i-s. sold between 31 7-S to 32 If ana closed at s2. Local receipts were 250 cars
 ir +ba nrice of live hogs the pro visions market was firm early in the session. Free realizing by longs caus- ed. however. a gradual reaction, The close was steady with May pork un- otansed at 'S14.12 1-2. Lard was up a shade at s7.70 Ribs were unchanged at $762 1-2 O 65
 St. Louis Provisions.
 e4 ro,,is Tan. 15.-Flour steady