The Montgomery advertiser., 1907-11-05
THE STOCK MARKET

New York. Nov. t--Ths stock market had an attack of nerves today but t passed almost ss quickly as shudder through causcd some deep inroads on prices but the recovered level of prices presented not only full repair of the losses but some substan-
 Before the day was over revised construe- tion had been placed on some of the very occurrreness which caused the opening sd matsry in the rssov.rs sss Msss re aas ssArs le the prolonged confersnce which had been inent bankers and capitaIists of high stand ing and which 1t had been sought to at- tribute to renewed crisis in the New York of tssss inoidsnts ~ss sha. thss had r.su yasw ed in solidifying and fortifying the trust company situation and incidentally in pav- the steel and iron industry on the coun. try.
 The view aIso found credence that pro- tective measures for the stock market it. among the financiers in conference. The fact that first prices of stocks were the lowest and that sufficient support was in force to work prompt checks ot the decline and early recovery added to the strength cf the belief ta reports of measures of pro. lection lection. .. saoptsd, The decrssss in nominal market left an uncovered short interest in nervous state of mind and the buying from this source was an important factor in the of uneasiness at the outset was increased by the serious view taken abroad of the Saturday bank statement and of the deter mined demand for gold for New York.
 The advance to six per cent. in the Bank of England's discount rate without waiting for the regular meeting of the board of gov- eating reopening of gravity in the situa- tion.
 There was residue of apprehension hold AA.. ~l.. of the saturday I Stock as market @ of the the @ bank statement. But feeling over the banking position steadily improved the longer the sidered. each item of apparent weakness in the statement being open to fnterpreta- ton of proportionate strengthening of the The New rorR clesrns Soass saass were thus seen to have been admirably fulfilling their function as the central reserve depos- and, and to p have @ met nett the 1 heavy M % demand la upon them with requisite resources while still in . condition of strength. leaving no ex- sase Tor alarm ,,.aa The enssssmsnts s oL so,a a spite of the measssres of obstruction in for efgn markets The realization became gem srai late in the day so tsss % ssfore opssa, era, after the election holiday tomorrow the first instaIlnent of nearly $s,ooo,ooo of the incoming tide of gold would De safely iodg- cd in our banks vaults to be quickly follow ed at frequent intervals by other shipments of the revivifying supply.
 The report of the absorption of the Ten- nessee Coal and Iron Company by the Unit ed States steel Corporation while not au- tnoritatively confirmed. gained piausihility from the known association with the fi- nances of that company with the trust com pany wich has been the subject of common effort for protection. The experience through which New York has passed di. receted somewhat wistful attention to the item in the weekly statement of the Impe- rial Bank of Germany, which reported an expansion for the week of nearly s20.o0O,00o in the bank note issues. The later gains in prices were quite firmly held to the close of the stock market,
 Bonds were irregular. Total sales par val- ue s2,48oeeO. U. & bonds. the sa. coupon and the As advanced M per cent. on call.
 CLOSING STOCK LIST.