The Montgomery advertiser., 1906-02-09
THE STOCK MARKET
SPECULATION FAILS TO SHOW ANY
 INITIATIVE.
Falling Off of the Volume of Activity From the Recent Low Level and Trading Was in Condition of
 Stagnation.

New York Feb. S.--Specuiation failed to
 failing off still in the Volume of activity
 from the recent level and trading from time
 %s which is readily sYpdis3n sssn in ,n, as
 marKet s .sxcspt at which is called the period
 st s.r s.Si,, mlIisummsr dullness Prices drifted
 course and backing and fiiiing under the
 ssa.ly'ns operations of the board room tra- mobility of prices begets disappointment
 market with the expectation of deriving a profit from price changes and the growth of
 easiscouragement es will induce such holders to of the very dullness of the market. Some such operations were perceptible today. It
 accounts were sold out and some new infiu-- ence was awaited to start prices in either direction. No such influence developed to- day of sufficient importance to prove an in centive to operate in stocks The closing
 the early hours of today. Something was was made of the apparent lull in the long period of unprecedented activity in the iron and The impression was modified by the fact that orders on hand in the trade are said many months ahead. Nevertheless engage | and the market was inclined to be weak. continued demand up to this time and while the present condition was bound to de-
 pansion of demand faster than production. the effect on speculative sentiment of the iN. movements States Steel stocks usually very sluggish are of marked effect on general sentiment.
 The special weakness in stocks today there fore hurt the whole market. The post ponement of action in the Union Pacific dividend until next week was also a disap- pointment, the expectation was very general
 that the executive committee would recom-
 mend action at their meeting today.
 look were underlying influences towards de-
 precision owing to the widespread effect such a contest would have on the whole industrial SftuattOn. The DRSSaRe through the HOuSa of Representatives of the railroad rate reg ulation bill seemed to be accepted with tram
 s1hi,iity' h,ay :. n.s The practical unanimity with tainty felt in its success Wall Street does not walt for the actual occurrence of events ed bv them. Some of the discussion in the Senate; however. regarding the intended
 some distarhins M @ sffsSct Ss % on @ Sentiment @ @ hs'
 sub-treasury operations for the day made
 small contribution to the supplies of the the previous portion Of the week.
 But the government institution again ap- peared at the clearing house today with a
 credit balance. thus promising another in- road upon banking supplies to figure in to- morrow's sub-treasury statement and in the
 change in the rate for time loans. but they are well sustained and call money rose late
 the renewal of large maturing Civilizations,
 some of them to out of town leaders which
 TS,s tfiansTerrsa is 10 tns New tb Grk Hanks
 sion in the loan accounts of the banks in
 spite of the languid speculation in the stock
 There was a substantial rally late in the
 day which seemed to be due to the disincli-
 direction. The closing tone was quita
 strong.
 B93ds were osc heavy; Tstal safes par val
 all unchanged on cali.
 NEW YORK STOCK LIST.