The Montgomery advertiser., 1907-05-09
THE STOCK MARKET
OPERATIONS WERE AT MINIMUM FOR
ENTIRE SESSION.
Dealings We're in the Hands of Narrow
Profess onaI Class and Could Not
be Said 10 Represent
ANYTHING.

New York, May S.--Operations In the
stock market were at a minimum today and
the feeble and uncertain fluctuations In
prices were significant of the lack OF con-
viction on the part of spectators The
dealings were in the hands of a narrow pro-
fessional class and could not be said to
represent anything more than Uniting sem
timent and efforts to detect a prevalent ten
dency In the course of prices that might
be followed
An early advance in a few stocks attract
ed no important following and the signs
of weakness in New York Central seemed
to be due to further selling prompted by
consideration of the wide margin below the
dividend requirements shown by the net
earnings of the company for tie first quar-
ter of the year.
An additional weakening factor was fur
nished by the publication of the report of
the state railroad commission on the Brews-
ter wreck. The selling of the stock was
in small amounts, but no support was appa-
rent to check the declining tendency. while
these offerings continued. The pressure
on the stock was lifted to some extent after
the publication of the gross earning state
ment for April which showed an expansion
OF over twenty per cent. over the aernings
crease il maintained would be sufficient
TO offset even such large growth In OPP
Grating expenses was made in the March
quarter and so would tend to preserve the
integrity of the fund available for dividend
On the side of the crop news. stocks Jared
better than for several days past.
Great Importance was attached to the
moderating weather in the Northwest as Civ
ing promise of opportunities to effect the be-
lated planting of spring wheat in time to
leave good opportunities for a harvest. The
occasional rallies in the wheat market itself
was of less effect than usual on stocks, be-
cause of influence Offering crop damage re-
ports in the movement.
Delaware and Hudson better sup
ported than for several days past. The
suggested nature of the financing said to
be in contemplation was considered less for
midabie than the vague rumors which have
preceded theese reports. Some suspicion
of activity by bear party in tn stock al
so affected the decline.
Condition in the money market underwent
a light change, although circumstances
point TO declining resources of the banks.
The $4,000. 900 transferred to San Francisco
figure in the sub-treasury such as the ope-
ration done by deposit at that institu-
sub treasury in San Francisco.
Exports OF gold not Immediately con-
templated, apparently but later outgo TO
Paris is still considered probable.
Sterling exchange at Paris reacted today
but weak here also. Money in London,
however is reported fairly abundant and
with as little effect in arousing activity in
the stock market as here. Some corpora
ton requirements are influence in the
current money market in New York. Union
Pacific seemed to take little harm from
bonds to furnish needed resources. 1t raj
lied to a gain of a point in the late mar
ket.
Bonds were heavy. total sales par value
s1.2S4, 900, United States bonds were un-
changed call.
NEW YORK CLOSING STOCK LIST.