The Montgomery advertiser., 1906-03-02
THE STOCK MARKET
MORE uESESF sFEsT ITS IfoiRSeAEt'0N ffoReE'
Continued Evidence of Stringency tn 'tn' Money Maslxet, However, Discour- ages any Ventures on the
 Long Side.

! 4s1 U covery today after signs appeared tnat tne more urgent liquidation had spent i.s dorSe; ,,Ss But the continued evidence of stripGency in he money market discouraged any yen- lures on the long side of the marksa ss an| weakness from time to time; Everything indicated q continuing inroad upon ns N. serves of the ssarins nouss sat ahs comns bank statement might show the dSappsasS = ance of the surplus and the 1a s,,h '. a deficit In the legal reserve The nuo
 treasury statement for the day showed an addition of nearly half million ,oinr Goirs tse the weeks loss by the banks prihkms tne
 It was reported that interior banking m stitutions were withdrawing funds ron New York on the express movement also,
 There was dsDositsS ssao at eo the for ts Transfer 't to eincinnau @ tI'OO The faI in the New York exchange rate at chicago for the day from 1b per cent. discount .ss,r. .n no pe er New York for funds from that centre. part of the drain to the sub-treasury repressmnss m reduirements of interior institutions. inter- mai revenue payment is being paid in New York by drafts on the local deposits or m
 Deposits of lawful money in the banks to keep up the five per cent. reserve kunp
 in the treasury ,sr to setSfs SIs tme al But the customs collections in themselves take largc amounts of money out of the marssL es,sa,s sSTIy over expenditures has reached nearly sS.- 0o0.000 for February compared with .ae@ flCit for that month 1n tHe ptSfSSAS over ss.oo6,ooo thus resulting in wiping out entirely the deficit for the fiscal year
 which has been in course of reduction TOT many months. The fact that the kovesn. krs5 :. ment's fiscal operations have estaDiisneo surplus again gave rise to some discussion in stock market circles of Hkeifhoou oL measures of relief for the money market py the treasury department. , Inese n,, ogtictsI source. The report from Albany oI hh agreement on the proposed laws estapAsnn- ing trust company, reserves at ID per Cent..' of which per cent should pc Sash nnr ln rspt in designated securities joined to an early requirement. for additional accumulation or cash in order to comply with this new meas, ure Foreign exchange made additionaI decline in response to the rising rate TOT money here and recedinK rates abroad. Discount rates were appreciably easier to- day. both in London Berlin ana Parls.
 brought in the usual orders this morning to sell from holders who received notice 70 furnish aditional margin on speculS,u!ve showed an over-extended short interest Tn the Hili railroads and local fractions The refusal of an application to the state auz thorities to proceed against the pFoPoseu shorts in the local fractions. The recovery was poorly held The Canadian PacltiC Ter ported net earnings for January three times as large as for the same month in the pre- cSeorris twice as large and the Chesapeake and Ohio an increase to the extent or ao per cent These showings were unayall- ing. however to induss any ycs,,atns efssa te dency of the market continued up to the closing which was irregular. Bonds were heavy. Total sales par Talne s2,5fO,O00 United States bonds were all unchanged on call.
 NEW YORK STOCK LIST.