The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1907-05-30
THE STOCK MARKET
CLOSING or ACCOUNTS WAS IMPORT
ANT INFLUENCE.
Imminent Holiday Took Away all Inclina-
ton Amongst Trnaers Here to
Enter on A.y New
COMMITMENTS.

New York. May 2g-Thc closing up of
accounts was important influence at work
today in the stock market. The same IN
fimence was effective In London. Here the
Decoration Day holiday tomorrow was the
motive. There the conclusion Of stock
market settlement and the lack of verifi-
cation of rumors current yesterday that
failures were result prompted the covering
Of short contracts. =
The Imminent holiday took away all In
cifnation amongst traders here TO enter on
any new commitments. The fact that the
closing up speculative accounts resulted In
more buying than selling Of stocks was
confirmatory that the position is largely ex-
tended on the short side of the market The
uncertain price movement of wheat. reports
OF more favorable weather in the crop re-
gions and forecast of needed rains and hlgb.
or temperature added to the disincllnatioR
of shorts to reamin uncovered over Tue
holiday. The sentiment In financial err
vai1ing unusual weather conditions might
alleviate to an Important degree the de-
preston at present ruling demand for Sao e se
gold for shipment to France tomorrow did
not deter the btars in stocks from proceed
ing with their movement to cover shorts.
This amount was less than was estimated
on Tuesday, when the first engagement was
made. but 1t belied the assumption OF yes
terday that no, engagement would be made
today.
Discounts receded IN London today. but
conditions bearing on the gold movement
were not otherwise and the question OF
further outgo Of gold is left open. rise
In copper in the London metal market was
helpful factor for the metal stocks mere
Tire professional element was Influenced IN
its position to some extent by the cabied
advice of an active Spectator who has az
tracted some following in past movements.
The speech to be delivered by President
Roosevelt at indianapolis tomorrow was
much discussed, accurate knowledge OF the
subsistence of the speech was protested IN
many quarters but confidence was less pro-
nounced as to the Interpretation to ne plac-
ed upon 1t in public discussion. tbs was
an element however, IN prompting the COW
ering operations by shorts
increasing attention Is given to the snow
ing OF net earnings of railroads Tor APRIL
successive reports received indicate correc-
operating expenses over the increase IN
gross earnings The Lehigh Valley report
for April was the important example To-Day
and its good showing was a strengtnehlus
that officials of the railroads already are
factor on the coalers generally. 1t appears
that officials Of the railroads already are
reporting for April the growth of ISL per
cent in gross earnings. leaving an expah-
sion for the net earnings after the increase
in operating expenses Is allowed ior o. o.. ~
per cent This showing may be furthor
improved from the effect of advances III
freight rates, which were to go into eftect
in many cases May l. The strength OIL
the days market. in spite OF It's extreme
duliness, drove the shorts into somethins
like the last and gave the force to prices
,rbich raised them to the highest or tanc
day but which was not fully maintained !"
the closing. 49,
Bonds were irregular. Total sales par
value s1,772.0oo. United States old IS "e-
clned Il per cent. on call
~yrxu vopx ri osINC STOCK, LIST.