The Montgomery advertiser., 1907-10-19
THE STOCK MARKET

New York. Got ls.--The fall in prices of some stocks today equals that in some of ss Saae %ss ,. $.. G if the eossou Ss.
 on demoraiixation- Conditions at no time however. slipped into actual panic although before the close. At no time. however. was the whole list embraced in the slump.
 There were points of comparative resist snoe tnrousnout. but these grew less S ss tns throughout the market. Another feature of the market compared with the slump ns of the s the ssPns. cy the day rising but little over million shares. compared with 100000 to over s.oos.ooo sh:rss in similar periods ;. Of past os chAerfulness after the opening and hopes were entertained that the cut in the divf- dsad on Amaisamated T, Copper .dsx nso peeS snS shat the announced solvency of the Mercan- tile National Bank after investigation by clearing house sommittee had reIaSyed that that tors. This short lived gleam of sunshine was the last of 1t that was seen during the day Prices rallied fsysrshly sat at mes .hses was no feeling of confidence at any time that the purging process was yet compiet-
 The weakness at first was pretty closely confined to the copper stocks. The condl- tion of the copper industry was given re- sponsibility for this for time and con. tinuance of the decline in the price Of copper indicated that the point of effect i've demand had not been reached yet With the prospect thus afforded of Q possible complete shut down of production by the Amalgamated properties and the recoliec- tion of the successful reductions wnicn occurred in the dividend and the stock m 1s03 the disposition to get off holdings seemed to be general It was evident that urgent pressure on the part of money ieno- ers was a factor in the crash in American that stock was associated with the cleaning up process going on amongst the banks: Restricted as was the field of .readjustmsnt sought on the banking situat,on. nomss.,. ,,,. der criticism at all had its usual grave CT. feet on confidence. and was the sufficieht explanation of the disouiet painted in the record of the days stock market
 The grain market also reflected the seal ing down of credits employed in specula- ton. Some influence was attributed 10 re- ports that yesterdays Hamburg failure vas more important than was at first suppos- ed. this presenting so closely parallel to the local situation as to appeal to senti- ment- +st
 The German Bourses. however. were not seriously disturbed The strong return of the Imperial Bank of Germany was re-
 cali money Ioaned at the stock exchange as high as 10 per cent but this was regard ed as due to discrimination between DOT rowers and collateral rates than 70 any greater tightness in the money market
 Estimate of the currency movement snow ed the movement still away from New xolk on balance. but t did not appear thst sn.s I would be more than. if so much, as the gain of ss.17e,ooo by inc banks on sub treasury operations. The closing tone was weak and unsettled in spite of the constd- erable rally of the last hour.
 Bonds were lower. but were not notably affected by the liquidation of stocks Total sales par value S2.414.00O. United States 4s declined N per cent on call.
 CT0sINa STOCK LIST.