The Montgomery advertiser., 1907-11-28
THE STOCK MARKET

The stock market displayed . spirit of sasy %heh n up the n ulation showed disposition to balk at some of the :fforts at stimulation in the s.rrh,. ~sy Gf aps and assertions of a1,,S com.ns ual properties which were found impossible of vsrification- ThszA efforts centered largely around tho Pacifics and Reading and had to do in the one case with rumors of an establishment of cordial relations be- tween the Hartman and Hill interests and in the other with plan for Investment of ownership of coal properties which would in cfuds distribution of shares in holdins company to Reading stockholders.
 The shyness unaffected by the profession. leadership vas due ih part to the suspicion htat some selling to realize was perceptible Sn on the advance in prices More was due. @ volvements In speculative commitments be- fore the relief of the general situation had proved adequats. Confidence continued to grow in the progress of this relief. The events in the progress of amelioration from day to day are not important individually. but they represent together gradua! ac- cretion to the fund of returning confidence which is working surely toward the re-es- tablishement of normal conditions. some of the separate items to that end today wers the reports that several of the Chicago savings banks had sent notices to deposit ors watving the privilege of the sixty day limit for withdrawals and the news that ticipated in as large volume as usual, af- though the penalty for delinquency does not begin until December 1st. The require ments for these tax payments make addf- tion to the needs of the December lst mon- ey market and the desire to await the sat- isfaction of these needs supplies one of tho motives for waiting attitude towards the stack market. The holiday tomorrow sup piled another factor for speculation which invariably hits on the eve of closed inter val in market transactions. evidences multi piled together fthe easing of the money strain.
 Tue high rate for call loans was six per cent Only small sums of currency were rate showed decidedly yielding tendency. There was relaxation in some of the i'm terior markets in rates Of exchange on New York. which marks subsistence of one Of the most embarrassing features of the late crisis The tension in the foreign ex- change market also sensibly relaxed and the marked ease in the London discount market reflected the growth in confidence in the passing of our financial crisis. The fall in hte private discount rate in London was so A reduction in the official rate of the Bank of England tomorrow.
 In the securitie smarket the improvement in the bond dspsrtmsns me sto wss Ien Sts TSis movement is believed to be of excellent augury and has been looked forward to with longing as necessary prehminay to any effective recovery in the stock market.
 The rise in bonds today was the f,rst distinct and comprehensive movement or the sort which has been seen since the late crisis developed.
 The stock market continued irregular throughout. renewed liquidation appearing in some stocks. notably Missouri Pacific. but the market turned strong before the close. Another advance in the price Of copper metal was helpful factor in this direction.
 par value $s.5s2.ooo. United States bonds were unchanged onScaii.