The Montgomery advertiser., 1906-09-06
THE STOCK MARKET
MONEY sTRINGENcY KEPT STOCKS
 IN CHECK.
There Nas some Depression But ow- inE to It's Moderate Proportions Under UnRrepitious Ctreusn- stances Was Regarded
 Fagorahiy.


 New York, Sept. 5.-The continued strinseacy of the money market kept the speculation in stocks in check to- day as is shown by tfe shrinkage m total shares sold during today at the Stock Exchange There was some ds- pression in the market but It's moder- ate proportions in view of the unpro- Pitious circumstances was accepted as negatively favorable. First loans. on call were made at II per cent, and the rate ran up almosA immediately to 2t per cent, and in the afternoon to 70 per cent Many of the banks. asked % per cent az the renswal rate on stand ing call loans. The local banks were practically out of the money market in the sense or extending of any new credits and the supply for the borrow CTS came almost entirely from outside banks and the proceeds of finance bills, which were sold freely in the foreign markets. The resistance shown by stocks to the influence of the money stringency during the mid-season was relief would nYIS0IS be promptly M Forthcoming for the money market This confidence was based on conjecture rather than on any actual amelioration in money conditions The favorite measure the action by the United States Treas ury Department. The prevailing stringe1cy in money was urged as tus- tifc ltten of action by the authorities
 
 command of the Treasury. Hopes were express al that the Secretary of the treasury would resort again to the measure of April last for facilitating gold Imports when Government funds were advanced to national banks which intended to make gold imports thus saving interest during the period of traIwjt. but the secretary's order to that effect did not become publicly known until after the close of the mar ket- The surplus above legal require mcnts shown by the bank statement last Saturday amounted to hut s2,S6a,- 400. Today s1,800,0D0 was transferred to San Francisco and s200. 600 to New Orleans by telegraphie transfer through the sub-treasury and the interior con tinues to draw on this center through the medium of the express companies. On the side of the foreign exchange market the influences were mixed. Some of the engagements reported yes terday of gold for shipment to New York were contradicted today. The $2,015.000 reported withdrawn from the Bank of England for shipment to New York was believed here to include some of the engagements of today. The rumor of accumulations of gold being made for New York in foreign mar kets. The price paid for the gold to- day in London was considerably above the market price and the price of geld ip Paris was reported higher. indicat- Ing the opposition to New York de- mands for gold in those markets A strong rebound in American Smelling on the appearance of the annual re- port caused sympathetic strength in Amalgamated Copper and fresh rise in Union Pacific were the sustaining features, in the market and the late advances were fairly well sustained uptii the closing, In spite of a rate of 40 per cent. fer call money. Bonds were irregular. Total sales par value s2,2e2so90 U. s. old as advanced 1-s per cent. on call
 New York-In the dry goods market silks are moving freely for fall and trade in high class goods is steadily improving. Tn woolens the best fields offered by dress goods huyers who are taking larger quantities of fancies in light weights soft finished goods Buy CTS of staple cottons continue to com plain of the scarcity of goods and prices are held firmly in all linens A little more activity is reported from the export division of the market in light weight sheetings and cotton un- derwear.
 NEW YORK CLOSING STOCK HIST.