The Montgomery advertiser., 1907-01-05
THE STOCK MARKET
sPECULATIvE SENTIMENT AGAIN
 ASSUMES TANGIBLE FORM.
Substantial Advances Resulted From the General Disposition to Buy Stock, While the Demand
 Was Quite Varied.

New York. Jan. 4-Speculative sen- timent which has seemed to be in a state of solution during the present week, was precipitated into tangible form on the side of higher values tor day. Substantial advances resulted stock. The demand was quite varied and affected the list throughout al- though there was a marked favor still shown for stocks which long have held ments. hesitating short interest, which has been added to during the week. encouraged by the lack of re- spcnse in the market to enable develop ments was an important element in the days buying. The pronounced relaxa- tion in the money market was the un- deriving ground for the advance. Funds the rate did not get over six per cent with the ruling rate for the day below that The forces which have brought active for some time to come. The was to allay much of the apprehension which has been felt that no actual ease in the money market period. The large projects which have been undertaken and for which it Is important that the market should show ourance of effective leadership in any market campaign. The estimate of the weeks currency movement make 1t evident that substantial Inflow rom the interior to New York has set IL and is likely to be extended. in view of the seasonable subsistence of re- quirements for movement of the crops. New York appesrs to haye aSo one nece,ved asn in during the week. Side by side with the relapse in the money market there was a revived demand for remittance The fact that the rise in foreign ex- change preculed the idea of an inward movement of gold caused no disappoint. ment in view of the obvious fact that local resources were abundant to meet maturing obligations abroad. It was inferred in foreign exchange circles that measures were being taken to sn- ticipate future. maturities and thus to reduce the volume of our obligations to foreign markets. for the future. Foreign money markets themselves continued to relax.
 These developments had a decisive effect on speculative sentiment. Mat ters which have been regarded lately with concern were lost sight of or ig- nored. Union Pacific was one of the list in soite of the beginning of the inquiry by the Interstate Commerce Commission into the relations of the Hartman properties with a View to discover possible conflict with the law. There was an aggressive recovery in the Hill stocks although the postpone ment of the closing Of the books for SuDSCrlptlOnS to lHe HSW StUSh h90 was witness of the reality of the ob- stacle to the new issue of the State of Minnesota's legal process. The large gains in the net earnings of the Souths ern Pacific and the Union Pacific for November helped those stocks. Other railroad reports showed>by contrast the severe effect on net earnings of the growth of operating expenses. No difficulty was found in absorbing the sales to take profits on the day and the closing tone was buoyant and very par value s2,55O,00 United States bonds were unchanged on call
 NEW YORK CLOSING STOCK LIST.