The Montgomery advertiser., 1907-05-01
THE STOCK MARKET
MORE BUSINESS DONE DURING FIRST
 HOUR OF TRADING.
Some Features of the Movement Had Com- menced to Arouse Distrust by That
 Time and There Was . Relapse Into DuIIness.

New York, April 3o.-More business was done during the first hour of today's session of the stock market than in the same time for many days past. Some of the features of the movement had commenced to arouse distrust by that time and there was re- lapse into dullness. and uncertainty In fluc-
 Many stocks were active during the first hour that have been unresponsive to the recent attempts to revive speculation i'm terests and the whole market took on an appearance of breadth and volume that has been conspcuously lacking In the recent criticisms of yesterdays dealings that they were practically confined to Union Pacific but the fact became evident in a short time that this diversion of speculative activity was being taken advantage of to market holdings of Union Pacific itself It was this that checked the upward movement and in- to reaffirm the dominance of Union Pacific in the present market. The heavy tone Of United States Steel was a drag on the mar ket also.
 There was no expectation of an increase In the dividend at the meeting to be held later in the day, but all interests centered on March s1. That these shold exceed the record figures reported on December si. was searcely hoped owing to the sea in the trade. But spectators feared that the showing of a decrease, however, ex- plained might be seized on to point an ar
 
 The London market was dull on the eve of tomorrow's May day holiday and con tributed nothing to the activity of this market. Stocks were but little responsive to the good showing of the weather bu- reau's weekly bulletin on the crops and to the moderate damage indicated by the Kan sas State Agricultural report for April. plentiful rain for present needs In the upper Mississippi and lower Missouri valleys was the report by the government bureau. cou- pied with news of additional rains since, and promise of more, and the decided heav- mess in the wheat market itself, the factors fin the crop outlook were generally towards reassurance. The leadership of Western railroad stocks in such strength as the market showed was a reflection of the crop news. An incident of the day was the sale of stock exchange seat at an advance over the price at the preceding sale.
 The sustained demand for the seats in periods of dullness in stocks Is looked on as a sign of confidence in early future re- paid. however to reports in circulation of the intended dissolution of certain stock market connections evidence of de- cline in speculative interests in quarters most absorbed in that pursuit. Whether preceded by unpleasant experiences of the recent past by judgment of future prob abilities. the effect of the example was not money for short periods continued to re- lax. but money brokers reported some stiff ening of rates for longer periods.
 Some effect future railroad earnings Is looked for advances in freight rates, which were irregular.
 Bonds, total salei par value s1.446,ooo. United States Ss declined A per cent. on call.
 NEW YORK CLOSING STOCK LIST