The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1907-05-11
THE STOCK MARKET
sUBsIDENCE OF Ac-TE WEAKNESS
MANIFESTED.
market Continued In q Mood Of Dull Re-
preston which was Occasionally
Relieved by Isolated
Advances.

New York. May 1o.--There was a subsid-
ance OF the acute weakness which was man
the market continued in a mood of dull
repression, which was only occasionally re-
neved by isolated advancing points. There
was some revising of opinion toward the
extreme disfavor in which It was held yes
teroay Union Pacific itself showed evil
oence OF some absorption and resisted the
occasional pressure which 1t suffered with
the rest of the list. The large demand for
capitai made by the Hartman Pactfcs con-
t snnued, however. to be regarded as rather
wnich are supposed to be candidates for
new securities issues. AS measure of re-
FUNDING the terms of the Union Pacific fin
ancing was better regarded than yesterday
OWING to the consideration of the retire
ment OF other obligations which is involved
unoer the lower interest rate to be paid
"nmpared with the recent urgency note is
sues OF railroad corporations. From this
also tnere was argued some improvement in
the general situation SO far the attitude
towards railroad investment is compared.
from the standpoints of the value of rights
70 stockholders carried by the subscription
raents to the new securities there was OBJ
Vlous ground for disappointment on the
part OF spectators who had bought the
stocks in anticipation of these rights The
quotations on the curb market today for the
Union Pacific rights were Y and under and
for the Southern Pacific rights Ia and
under.
Great interest attached to the monthly
report issued by the agricultural depart
ment shortly after noon. The rise in wheat
oAeSi the report appeared 10 the highest
price of the season was the index of the
Interpretation placed on the report I'D the
reflected influence this showing was
depressing factor in the later stock market.
The percentage of oondi, on reported for the
winter wheat crop did not show large
a deterioration was feared, but the
showing of upwards of 100000 acres of
winter wheat killed. far in excess of any
current supposition.
Che continued clay to spring wheat seed
ing eby cold weather in the Northwest was
alos a discouraging factor. The London
market was a center of some depression to-
day growing out of the disorders amongst
the Indian subjects of the British Empire.
London was reported buyer of some
stocks in the market including Union Pa
ciffc. Estimates of the weeks currency
movement did not indicate a large change
the interior movement has ben enough ap-
parently to rather more than offset the sub
treasury'9 absorption for the market, the
latter including. however, the s., 1000
deposited for the telegraphic transfer to
San Francisco.
The money market was app coiably
stronger, nevertheless. and this caused the
supposition that some large synt icate ope-
rations have affected the loan item of the
banks during the week. Some special
weakness in Reading was accompanied by
unconfirmed rumors of an intended note
issue. Its decline helped to prl. down the
whole of the later market
Ronds were irregular Total sales par
value S1,144,0oo. United statse IS declined
per cent. on call.
NEW YORK CLOSING STOCK LIST.