The Montgomery advertiser., 1906-08-05
THE STOCK MARKET
PRELIMINARY ESTIMATES (
 STATEMENT AT FAULT.
D,serepancies Were Partly Dae to the Fact that New Member of the Clearing House Was
 Included.

<--4---~-- .tf
 New York, Aug. 4---Ali preliminary statement proved at fault again today. The discrepancies were partly due, to the fact that new mem5nSsrd Irs5nSsd G,I ,n the. the showing for the first time today. thus disarranging the comparison or tne nysrages moys4gs,ents InS of money yesterday seem not to have made sufficient allowance either for the effect of the redeposit of panama Soygd The loss over $l.000,00 as was indicated, IS dollars. tIdi a But ls the nor more favorable show neutralized by the heavy loan ,expan- crease the reserve requirement to snoh an extent as to leave the surplus im- paired to the extent of sa1s;S,soo, ; M account of the bank showing no doubt Rates for time loans were also appre- ciably higher. and smaller supplies also firm tone and a sharp advance in foreign exchange rates in spite of ths hS9Saay n Lpnsoa ssds which s s9ocs s9 os market was more influenced however. by the evidence offered by yesterdays tributed in spec specuiative iiauidationa. The vorites were continued today. and only orst ssPPGrt fter tSe iowe opening. By the time prices were re- stored to last nights level the force of and continued almost uninterrupted to the closing, which was easy and at de- cnnes running from one to over. two Npolnts for many of the prominent Total sales of bonds. par value, s427.- Early in the week, there was good deal of unsettlement and irregularity in the market, following the rise Of the previous week. But animated specula- tfon broke out after the action of direc- tors of the United States Steel Corpora tton in declaring a dividend on the so srsr foe1 ese sea Ssss weFs swPs s a. greatly disproportionafe interest was Sn n pd socks DEoscas ess official sanction, the speculation was Psssa ssa sntsred thsl o operations in the stock market and that a concerted policy had been at dormant public interest in the !. m. securi- ties market. With the successive re- turn of various capitalists from Euro-- stocks. in which they were interested. saa1 sr prs er Gpssa Pp ssoeE Ess n 6S syc5 Ga as
 inferred not. only from the. market movement of special stocks, but from sne ses1Sn is of eorporstton ion directorships. Steel Corporation. The dividend on the steel stock is accepted as an earnest 2s the conndenee Of the directors in dftfons in the industry of which they are the chief representatives,. It was df poeg farssr ss dGfb@nsssn of t stockholders In general There have been many evidences of dissatisfaction portion of. earnings annually disbursed ana organized movements and even le- gal processes have been resorted to eral disbursements. The highest rates ruiing m the market also make the
 Money on cai1 has been seasonably easy. but the large loan increase by the banks last week Suggested the re- campaign and the. ultimate demands aise to De met of the crop-meving pe- foreign markets by the Russian orders have shut off the London market from resort for gold supply by New York New York have reflected the payment or subscriptions on the Panama Canal bond issue; There have been large re- same time with the banks. but the cali
 tremor was sent through the mar
 
 Brooklyn Union Gas, as 1t was feared that this foreshadowed similar action by the Consolidated Gas Company, and indeed. good policy to be followed by the group of capitalists represented Tn these properties in the case of eor-i poratfons which are the object of the current against corporations. An im- pfesslon upon sentiment was made also by the action of the Pennsylvania. Hanroad in regulating passenger fares as concession to the movement for legislative action to that end. But there was some small revival of ap- prehenslon on this subject. which was an important factor of depression in the market some time since in view of ehe rebound in Consolidated Gas stock and the prevailing influence of the United States Steel dividend
 Bonds have been sluggish and irreg- glar and little affected by the speeula- tive activity in stocks. United States old Ts and 3's. coupon, have advanced 1-4 and the 2's 3-4 per cent on cali during the week.
 NEW YORK CLOSING STOCK HIST.