The Montgomery advertiser., 1906-05-22
THE STOCK MARKET
srAGNATroN AT TIMES IS ALMOST
 COMPLETE.
Dealinrs Fall To The Smallest A9gre- gate For Any Day This Year. Trading Drifts Aimlessly In
 Varying Directions.

New York, aMy 21.-The stagnation or the trading in stocks today was al fell to the smallest aggregate for any day this year Professional room traders allowed themselves to become 2 discouraged over the possiniil.lss . oa profitable operations In view and the profound neglect of the market by the general public and thelr operations feii 70 small proportions What iittie spec ulative interest there was among the chronic traders was largely diverted to the days favorite sporting event when was the subject of more speculation and apparently as much financing as any market security. .
 Trading drifted ainlIessly in one di- rection and then the other. or with sluggish price currents running m op- posite directions at the same time. There was an. ebulliticn in the hiRh price of anthracite coalers. of kind familiar In that quarter of the stock list This was In response to a pro, clamation from a highly successful speculator in that group of stocks of his estimate of probable future prices to. be touched by these stocks. Dis tillers securities rose on the reports or prospects for the enactment or the free alcohol bill. American locomotive was affected by rumors in circulation of possible merger with the general electric company. These are the prin- cipal examples of the markets req lures. The general tone so far as it was discernible at all was rather heavy as Is almost inevitably the case In market of such limited demand for stocks.
 Pennsylvania stock was apparently In good supply and the course of the in- vestigation of that company and its heavy borrowing kept 1t under some ket continued easy and was dull, the principal inquiry being for funds car rying over the end of the year. While five per cent was reported bid for this maturity, money brokers reported that the most of the business was done at 5 IA. Transfers to San Francisco through the sub-treasury again amount ed to over a million dollars. As the resumption of banking is expected to be made in the wrecked city by the mid ale of this week, this movement IS not expected to run further and an early return movement Is looked for when the banks have opened and satisfied the demands of deposltors. London dis- counts yielded somewhat today and the bank of England secured the supplies of gold available in the London market The movement of sterling exchange n New York did not point to any early resumption of the gold import move ment There were sharp reaction in London markets for copper and tin and the copper group felt some sympa- thetic effect owing to the extent to which the rise in metals had anected the speculation in the stocks of that group. The wheat market showed some speculative operations based on the dry weather in the crop region but this was of small influence in the stock serted that mercantile activity in their territory indicated a spirit of confl- dence in the crop outlook. The n1e- less character of the market held UP tai sales par value, S1,650,000. United States bonds were unchanged on call
 NEW YORK STOCK LIST.