The Montgomery advertiser., 1906-08-17
THE STOCK MARKET
FEvERIsH ExfEecnATCN ExfEcTATfCN. ~
Excifsmsnt Continued at High Pitch On These sfocks. Increased by Delay
 tn Assembling of Com

New York. Aug 1s.--Today was one of
 feverish expectation ef seeking the solution
 of the riddle of the excited speculation in
 unicn Pacific and Southern Pacific The
 excitement continued at high pitch in those
 in the assembling of the committee the
 be approaching continuation as that time
 crew near The delay was explained as
 s funeral other as saaaass espianasions wsrs forts
 day passed without ity solution f Of the riddle
 buying of the stocks was somewhat dazed
 by this course of procedure. The move
 slight effect from this condition of unset
 tiement, Their sustained strength was att
 triouted to q conviction that a decision
 rived at although the snnouncement was
 withheld. The market fell into dullness
 Speculative feeling continued at a high
 tension. however, in the mood of uncertain
 ty as to what the action, of the market
 out Confidence in the action to be taken
 was too strong to allow much room for in
 on the subject of how the market would
 act If all hope was not fulfilled. there
 was great diversity of opinion
 and profit taking caused slight reaction.
 the action of the money market was re-
 into Speculative excess. The average rate
 for call leans during the day was higher
 than yesterday In spite of some substantlal repientshment of local money supplies The largest part of this was shown in the pay ment by the sub-treasury of s2.130.0oo
 transferred by telegraph from San Francis ,,n.a Han gold, consignment of which was re- ceived in San Francisco Tuesday. Regu- lar sub-treasury operations are also yield ing something to the banks with the months' pension payments running to the floodtide On the other hand the deposit of $100. 900 at the sub-treasury for tele- graphic transfer to St.: Louis, was or senti- mental effect as a distinct evidence of the force of the harvesting demands which may be counted on to take many millions out of New York. when once. 1t is under way. l The figures of the foreign trade for July were not reassurfng on the exchange situa- ton, although the future movement of the crops is largely dependent on the move of gold in this direction. The expansion of 1 imports and the relatively small growth in 1 exports leaves the excess value of exports
 for the month only $s,s2s.s69 as compared l strength in Pennsylvania made an active market for the convertible bonds. of which 1 the syndicate when 1t was dissolved The l reaction in prices which followed the an 1 nouncement that no dividend would be re- ported from the Union Pacific and South l ern Pacific meetings was resisted.
 The view was apparently taken that the l stocks were in stronger position with the mystery stiIl hand than if formal an nouncement of dividend action had been l made The action of the St. Paul direct 1 ors in offering the s25,o0o.ooo of treasury I confirming a long standing expectation, en- | eouraged confidence in the dividend hopes
 Sn the raclos Inere e was m oatSsrn aeany reals Ps cific and the closing was in consequence unsettled and irregular.
 value ss. sso. eco. United states bonds were all unchanged on call
 NEW YORK CLOSING STOCK LIST.