The Montgomery advertiser., 1907-08-16
THE STOCK MARKET

r
 New York, Aug 1s.-support of an earn est and substantial character saved todays market from another spasmodic turn of hqnidstion and bear attacks such as char acterized the previous days late operations. Assistance was forthcoming almost from the outset. but not until prices had reced- eded from two to four points in many of the speculative issues. The downward movement was speedily arrested. however, and extensive covering by shorts followed the news that the sheets Of the stock ex- change members passed through the clear ing house without hitch. That with the Bank of England discount rate the failure of the treasury department to relieve the money situation and recurrent mutterngs of trouble in financial and industrial quarters, the day opened most inauspiciously.
 These unfavorable influences gave impetus to the market. Our securities practi- cally without support at London, where quantities nf the steel stocks were sold at market recessions. The weakness of the steel issues was concurrent with reports that manufacturers had received many can cellations of orders.
 Later in the day the heayiness of Ameri- cans in London was attributed to short sell ing for account of a coterie of professionals prominent in this market. Rumor asso- ciated the early decline in Smelling with the recent tremendous shrinkage in Inter borough-Metropolitan shares. there being apparently community of interest in these corporations.
 On the whole sentiment was slightly more optimistic.
 There were persistent rumors that next weeks public speeches of President Roose- velts and Secretary Taft would be highly reassuring. The local market more than held its early recovery. the best prices of the day being recorded late in the session. The closing was strong. though compar- atively inactive. Aside from the advance in its discount. the Bank of England's ex- hbit for the week was quite encouraging, loans being reduced by about $5,00o, 900. with an increase in total reserves of about he ho q nrnn af a- serves to liabilities advanced 6 very mark ed increase over the previous week. Accord ing to the recognized trade authority, bus mess in the steel. and iron industry shows many signs of an approaching halt.
 Similar conditions apply in the various electrical manufacturing lines. the recession of business already having resulted in the discharge of many hands.
 Bonds were irregular. Total sales par val ue $1.936.000. United States 4s advanced 4 per cent on call.
 NEW YORK CLOSING STOCKS.
 Atchison zee, S4%
 do. ofd- 90 Baltimore Ohio .... .... .... .. s1H can racine .... .,.. ..... .16s II S' ~ N W. .... ..s. .... .s.. ..... .l41 E
 do ofd. .... ....1s0 Colo. Southern ... .... .... .. 22 Denver & R. Grande .... .... .. ... 22%
 do. pfd. .... 6s @ E@rie -. .... s... .... .... .... 20& Illinois central .... .... ..... .129h Lou. & Nash. .... .... ......104M Manhattan l. ... .... ..130 Mexican Central .... .... .... 17h MO Facific ...... 65A ~. I, central ... 102 h aenna ''.- .... .... .... ....... .1f6A neaelns ..,' ...' ..s. s... s9h 1oSh AsIano .... ss.s 1SL oo. pro. ..s. AZ sN' raul ..s. 121 southern Pacific .... ...... s2M Southern Ky. y.'.... .... .... 15M ohion racine '..s '.ss .... ...... ..126N oo. DIG .... ...... S0h " apdSh Il wisconsin Central .... .... 14 NoFtneIn Racitic .... ...... ...... 1f6 Great Northern .... .... ......1IS Amalgamated Copper .... .... .. ., 6sH American Car & Fdy .... .. ..,. 37X American Locomotive ...... 50h smeitins and Refg, .... .... .... 94M oo' 2Id .... s... 96 brooklyn R, T. ...s .... .... .... .. 42M | Col Fuel Iron .... .... .... .. 23h l International Paper .... s... .... .. 12M National Biscuit .... .... .... ...... 70 National Lead .... ...... ..,, 45% Pacific Mail .... .... .... 25 Feopies Gas s... s... S4 Pressed Steel Car .... .. ...... .,, 25K Fullman PaL Car ..153 Stahdard Ou .s.. ..... 435
 sugar ..'' .... ..'. .... 4.ss ..ss..1l3 Tennessee Coal & Iron .... .. ....I35 l U. B. Steel ... ...s b.. ...... 31h l Western Union, .... .... .. 75M