The Montgomery advertiser., 1907-04-04
THE STOCK MARKET
MOVEMENT REGARDED AS 4 REFLEn4 ,x 1L0N.
Hecedlmg Money Rates Were the Ru1s st III ef the Great Financial Centers eass ef Woxad.-Def1in Rate

New York. April a.->The movement of the stock market today was regarded as rather . reflection from the shifting sen t,msnts of professional operators than as specifytng any changes in the condition. and affairs. The market tends to fall more and more into the hands of profes- sional opertaors with the completion of the transactions by those prompted by more substantial and sutained considerations. The development of most conseauence was the relaxing, tendency of money which however. was little regarded in the stock dealings Exceeding money rates were the rule at all the great financial centers of the world. Even at Berlin the discount ratc receded although the weekly statement of the Imperial Bank of Germany gave for nanciai sources there. The increase for the week in the note issue of the bank amount ed to ts4,slS.ooo and the expansion of its of sss.soo.ooo. This showing explains the remaintng uneasiness reported from Berlin. \ Exports from London indicated that come de for Berlin. A feature of ths situation was that part of this supply came from New York resources by resale in London day for shipment to New York, the resale also resulting fa a fall in the market
 The violent rebound in sterling exchange here made the re-disposition of the gold profitable. The rapid decline in interest foreign exchange. The banks have gained on ub-treasury operations since the last bank statement $S,244,000. They received of the gold secured abroad last week The interior exchange Indicates also a movement or currency in favor of New York. While the stock market was little affected by the course of money the bond market begins to show marked improvement and large Iy increased demand. This. Is a develop ment regarded with great interest owing to It's tendency to correct the waterlogged condition which has existed in the bond market for months. and to take up the 1nrey orlyA Ato- hle in the hands of syndicates and bankers. The New York sub-treasury already has naid over to the banks upward of $17.oo0.- 900 of customs revenues, making 1t evident that the treasury department is not limit ing It's deposits of this kind to the SIS. 5.ooo.- 900 of accumulated customs receipts first ordered deposited under the authority of the new law.
 The treasury circular ordering the refund bonds of 1907 at maturity on July 2, and the redemption in cash of the rest of the issue Is regarded by bankers as promising additional assurances of resources for the money market. Prices of stocks moved downwards and then recovered Expiana- tions for the depression were renewed sell of negotiations for the peaceful settlement nf the wage controversy on Western rail- roads and the disquietins effect of the bitter tone of exchanges between the white house and the Union Pacific executive off, fees.
 A break in the London copper market was an influence. Atkinson was prominent in tn erceovery ofter the declaration of the semi annual dividend of three per cent. An initial yearly dividend of per cent. for Kansas City Southern preferred anoth- ar feature of the day. Reading and Brook 1yn Rapid Transit were speculative favor ites in the late rise which was attributed largely to reissuing of stocks sold snort :
 The rally was not held and the closing tone was irregular.
 Bonds were firm. Total sales par value s2. 00o United States 2s declined 1A per cent and the new and old 4s advanced A per cent. on call.
 NEW YORK CLOSING STOCK LIST.