The Montgomery advertiser., 1907-05-28
THE STOCK MARKET


New York, May 27.-The combination
OF urgent liquidation and an almost
utter prostration of demand for securi-
OF prices in the stock market today.
A striking feature of the days move
ment was the lack of excitement in
lshness In the fluctuations. The ex-
tent of the decline gave rise to un-
easiness and apprehensions that dam
s axe would result. but the mood of the
looking on to observe than of any
srom t mays to The in qSidat0n osms
and blocks of stocks in Indefinite
amounts were fed into the market at
STEADILY steadily declining prices until selling
when feeble rallies would ensue on
snort covering by the room bears, who
TOOK quick profits at intervals. 1t was
from the bears to cover shorts con-
stltuted about the only buying there
was, but the fall in prices was. not
OF business recorded on the decline is
witness to the expectation of buying
9 enders to meet the selling was affected.
sup ee was aric no sign or any attempt to
net was left apparently to drift on the
.lde OF circumstances and to find a
iexel at which new forces would de-
T Teiop to set in motion some movement.
me persistent downward tendency of
prices in itself helps to paralyze the
demand owing to the general doubt how
buyers to await the most advantage
Gus opportunity. 1t is suspected that
the the same spirit helps to aggravate the
distinguished from the Immediate rates
Tor money. Future capital issues
promise indefinite extension and the
tai In successive issues whets the ap-
petite to wait for future advantages.
Meantime obligations already incurred
met and nj d Ssses ust be
railing market seems to be the only
recourse There were recurrent re-
ports aisq TO-DAY OF necessities growing
out OF the dissolution of large
stock exchange firm and the attempted
transfer of account of its clients. which
were forcing settlements in the open
In the wheat belt awakened renewed
uneasiness over the final outcome of
the years crop.
Reports of railroad traffic officials
reported some extension of the same
spirit to the general business situa-
Movement mon mtn rTeSss a Lighter freight
abroad were unfavorbaie. A failure
OF some Importance was reported in the
London stock market and drop in
s sstent den mondon nt was hurtful The m
IN securing metal of the London sup
ply; but at the highest prices of the
nose in f9 2on the year Discounts also
fell at Paris and held steady here.
me result was the Inauguration of
gold exports from New York by an
engagement of 100000 for shipment
T 19hmorToW with more in prospect for
market was unaffected by the develop.
mIent. short time rates receding, but
loans for. the longer periods being in
keen demand. The announced infen
ton of the New York authorities to
proceed for the collection of franchise
taxes made the public utilities espe-
cially weak. These, the Smelling and
copper son,p ae st. STOCKS, the Pacifics, Reading
some OF the southern Pacific and similar
speculative stocks are down from three
to over FIVE points on the day. Much
WIDER declines were shown by some Of
the dormant stocks. The closing tone
was irregular and uncertain. al
though not at the lowest. Bonds were
weak. Total sales, par value. s1.53s.o
600. United States Is, coupons, ad-
N vanced Is and the registered 3-s per