The Montgomery advertiser., 1907-04-10
THE STOCK MARKET
OPERATIONS CONTINUE TO SUGGEST
 PROFESSIONALS.
Transaction were Conducted with signs of Organization and Concert and were Largely Congested in Few
 Stocks.

New York, April s.-The character of the operations in stocks today continued to dealings. Transactions were conducted with signs of organization and concert and were largely congested In few stocks, usually favorites in such operations. The market commission houses of the small orders for execution showed that there was small general participation in the market The market The market was much the same as that of yesterday. except that the advance came first followed by reaction.
 .,,1n me s,aaa, re.urn to near the starting point in both cases. The stocks which were of most influence in the leadership of the early largely in the shape of unconfirmed conjec- lures American Smelting was conspic- uous feature and responded to very positive assertions that an advance in the dividend rate to ten per cent had been determined on There also was talk of a probable coming increase in the dividend of United for these renorts au1nosy Tha novement in caa nadian Pacific was attributed to a fresh turn against the short interest in that stock. Much was made also of the continued down. ward tendency in money rates both here and abroad.
 Discount rates declined in London. Paris were of general expectation that the Bank of England would reduce its official dis count rate this week. The Imperial bank of Germany made It's weekly return and showed moderate recuperatfon from the se- were strain of the April settlements. recov-- erfng s1l.000,000 of the previous weeks loss of s45.600, 900 in cash while s29,350, 900 of the s69.4s5,0oo credit extension of the week before was repaid and $34055.oo0 of the s94.s15.ooo note expansion of that period
 Nevertheless stocks continued to be sold here for foreign account and the opening of a new account in London stock market revealed small commitments in American securities, notwithstanding the low carrying rates. The strength of the market was quite general in the early part of the day and the development of marked weakness in the Southern Railway stocks came while strength was still marked in the rest of the market. The fall in these stocks suggest ed renewal of the kind of liquidation which was in force last month and arouses some disauietude and the whole market was
 The Fries showed close sympathy owing to the analogy in the situation and credit facilities of the two companies. Some tf- feet on sentiment was produced by the re- ports of a pending note issue by the Della. ware and Hudson suggesting the likelihood of general resumption of this form of financing to follow any large additional supplies to banking resources. The later weakness of the market was aggravated by reports from Washington that the deposit to be discontinued for the present, and also that proceedings would be had to compel E. II. Hartman to answer questions which he refused to reply to at the Interstate Commerce Commission hearing. The clos ing tone was easy.
 Bonds were heavy. Total sales par value S1,SSS.00 United Stats bonds were un- changed on call.
 NEW ORLEANS COTTON OIL.
 New Orleans, April 9.--Cotton seed oil; prime 41 hac: crude