The Montgomery advertiser., 1907-02-28
THE STOCK MARKET
UPsET BY SELLING OF SAME ExTEN-
 SIvE CHARACTER.
selling Had Much the Appearance of Lhquia- ation and Market was in Same Uh- supported Condition as
 ou Monday

New York Feb 2T-The stock market was upset today by selling of the same ex- tensiye and varied character as that wnich broke prices on Monday to new low ieNels for the year. Yeyterday's rally had giyen the impression that Mondays selling w@as @ largely for professional short account, day selling had much the appearance ot liquidation and tie market was in the same unsupported condition as on Monday, ise, which accounted largely for the materiS ,,rs inroads on prfc'ts comparatively hsHr selling. It WIS generally held that tp~ developments al the Interstate CommeTe- Commission inquiry were respons,nae o, lsr .ns immediate item of information disclose that prompted the selling of securities but the fears of the ultimate conseduene~~ growing out of the investigation. The aiv- of the investigation is to demonstrate tf~ desirabilty or necessity of more stringent control oyer railroad companies by tr government. especially in the matter of is- sues of capital and purchase of stocks in other properties, on account of the hearing matters have
 It is believed that so far as the impress sion on the public mind Is concerned, the inquiry will have the effect of strengthening the contention of the government substan- tially and of furthering the efforts to secure legislation to secure those aims The acknowledged effect of the hearing on the minds of observers is that an exercise of individual power through the resources of ble. The showing Is imposing even to the Wall Street mind, which has some familiar ity with the conditions and views them with the spirit which custom breeds. A decided growth of the agitation for the control of corporate powers Is expected Some disturb ance was caused to sentiment by supple mentary rumors of Interest felt on the part of the, stockholders of some of the great railroads in movement parallel to that in the insurance companies following the insurance investigation. These rumors were poorly defined and given their prin- cipal effect by associating some of the names presented in the campaign against the old insurance control in the alleged plan for the new crusade of minority stockhold-
 
 Additional legal restraints on the fidu- oiary activities of railroad directors and executive officials were the suggested meth ods of procedure. The news of the passage by the Senate of the Aldrich currency meas ure was Of disappointing effect on the mar ket There was momentary rise in the opening dealings but prices promptly sold orr again with a growing downward impe- tus The average level at the lowest as rather lower than was touched earlier in the week.
 The average was affected by acute weak ness in few prominent stocks, notably Reading, which was severely depressed by a continuous stream of selling. That stock and Louisville and Nashville were subjects of recurring rumors of a forthcoming note issue. There was some extensive buying profit taking by the bears t had the effect of steadying the market, but there were no important reeoveries.
 Bonds were heavy. Total sales par value $l,s2o,00O. United States bonds were un- changed on call.
 NEW YORK CLOSING STOCK LIST