The Montgomery advertiser., 1906-06-03

THE STOCK MARKET
THE TONE IS BETTER WITH AG-
 GRESSIvE ADVANCE.
Henlizing After the Appearance of the Bank Statement and the Closing Is Irregular-The Rise
 is SpOtty.

New York. June .2.-The. stock mar ket had a better tone today with an aggressive advance of nearly points In St. Paul as the backbone of the the appearance of the bank statement which cost part of the advance and the closing tone was irregular. There were ,s important Tsps in the ranks ,sso of of spotty and for that reason unsatisfac- tory to those watching for evidence of a general rising tendency. The movement in St. Paul was based on unofficial reports of the plans for financing the Pacific coast extension which pointed to subscription privi- ieges for stockholders for the treas interest bearing bond Issue to provide the remaining requirement.
 For some time stocks have been un- additional capital issues and the re- sponse in St. Paul with an advance was regarded in,> itself as a hopeful tive sentiment on this topic. although the promise of subscription rights of considerable value would add to the attractiveness of the stock. The bank statement showed only s1,12s,eoo cash gain compared with preliminary esti- mates of between s6,000,000 and $10,- oooo,ooo and with a loan increase of s2,- l iS2 4Go included in the deposits. the this market without initiative from abroad Expectation of easier money requirements out of the way was a factor in the market. Total sales, par value, $1,435,000.
 The interruption of the mid-week and Monday holidays in London have been offered as nominal causes for the extreme dullness. ruling in the stock market this week, speculative opera tors dreading a season of closed mar kets owing to the lack of opportunity at such times to act promptly on sud- complain of an almost total lack of interest in the market on the part of the outside general puhlic. Dealings have been made up of professional were not convincing as reflection of any genuine changes in the ownership Of securities These professional op- sande m hays ss nssn and T6s in ana rapid movements in these have had little effect by sympathy on the gen. erai body of the market Prices have drifted fistlessly and with constant Fluctuations outside of these special stocks and were not carried far from the pre- existing level at any time ., some on of the events of the week were ditions, but they were of no effect in stimulating stock market activity. The date for proving insurance losses
  yond June IS and the adjustments in this field will be necessary to define exactly the financial status not only of the claimants but of the insurance Is attached to the outcome of the in- surance adjustment to determine the final financial effects of the great disaster In the same way the easier conditions In the money market which are expected this month are obscured in their influence on the stock market A44o 1 tzL l. certain.
 The question of an outlet into for e1gn money markets for American se- ewing to the 9 arge Ietharggp npGaapiSs of tSs present investment demand for bonds and newly issued securities Is a weight sfsdst ,,upo upon the prospect. The good of $50, 0,oO0,000 of Pennsylvania bonds in Paris has been somewhat impaired by the. lack of any sequel to show an reports of loan in Paris to the in surance companies to finance their San Francisco losses and of an exten- to finance that roads Pacifc coast ex- confirmation: Future conditions in subject to. the exigencise of extraor- dinary activity of trade which has been common to Great Britain, France s. and Germany as well as to the United states. The importance of the grow ing improvement in the condition of the Bank of England is affected by the fact that 1t is largely due to the re- lease to its reserve of Indian govern ment funds formerly held by the bank. This release was definitely forseen and has the motive for the assurance with which the bank has suffered It's reserve to run far below the custom ary. ratio to liabilities for months past.
 The prospects for the crops will be of increasing influence upon stocks from this time forward whether for improvement or depression, The crop promise has not been unfavorable to stock values up to. this time.
 The prospect of congressional campaign this fall is not left out of the account In estimating the specula- tive outlook in stocks Owing to the prominence of the questions of cor l poration abuses and the prevalence of a disposition towards agitation against | these and against corporation prlvi- 1eges, some anxiety Is felt for the | possible direction which may be ta- | ken by these forces and for the pos | sible damage which may result to mar | ket values or corporation secuSlties. Bonds have been dull and for the | most part heavv United States old 4s advanced Is per cent on call on the week.