The Montgomery advertiser., 1907-06-07
THE STOCK MARKET
TRANSACTIONS WE'RE LIMITED IN
 AMOUNT.
Evidently Professionals Find the Best In- spirati0n for Price Movements in
 Rumors From Washing far

New York June s.-The transactions which carried prices of stocks upwards m and were believed to be from profession al sources almost entirely. Evidently the professionals find the hest inspiration Tor ton regarding the intended olicy of the au- thorities toward corporations. Todays rise was due in large part to the posl;ivs psa,rss that determination had been reach9d af- ter consolidation amongst members of the sdministratien to refrain from an os6,nse dct,se fion because of a fear that the general sit- uation might be imperiled by such course This was the same report that em2nateo from Washington on Tuesday with the ef- feet ot putting up prices. Yesterday stocks fell on the announcement from Washington that 1t was intended to proceed agalnsf MT Hartman toIcompel an answer to Quesuons which he refused to answer, before the In 'erstate commerce commission
 The inference might be that operators in stocks attributing the importance 10 the governments course but the inference IS equ9lly emphatic that correct lnIorrna'ion a soI from being generally known Notnihg oo- cured during the day to change the con
 The retirement from the Chicago and Alton directorate of friend of the Harri. man interest revived some discussion or the supposition long held in the financial terest and the present control Of the Al ton. This did not. however. interfere with &aQ Island stocks The admissio ] of the ab- sorption of dominant interest in the sos- ton and Maine iine bv the New forks New Haven and Hartford was confirmatory or what has been generally believed Tor some time past but the incident had some stimu- lating effect on speculative sentfment as an evidsuce of a stirring rom the ietnarsy into which all operations of the Kind nave sunk since the dearth of capital resources has put check to enterprise. Mncn was heard of the sound conditions Tn the Iron and steel trade and the large earnings or some of the leading corporations in those industries. Railroad earnings were tt,na saaso so Southern Pacific's operating expenses Tor April having. a special explanation in con gestion of traffic in the interruption oS storms.
 sion of gross earnings for May of over Zs per cent The average increase or net earnings for April of all railroads thus re- ported shows percentage Of more than thirty compared with last year Ine des claration of the regular quarterly dividend on Interborough Metropolitan. pfd. fecieVe9 some fears of tho passing of the dividend rate and the New York utilities moved up ward in spite of the final act in the enact ment of the public utilities law at Albany Another drop in the London price or copper did not preclude the copper stocks rom sharing in Nhe days rise here Foreign exchange made further advaaoe aoe aF" F,rthsr outgo of gold by saturdays steamers "a' accepted as certainty. ....,. .,
 When the traders came to attempt to take profits. prices yielded rather eas,x, nniS,, responsible for putting prices up The cios- ing tone was heavy. - , .
 Bonds were irregular. Total sales par value ss54.ooo United States old 4s' regis tered advanced 1 per cent and the ne" AS declined # per csnt on call.