The Montgomery advertiser., 1907-02-06
THE STOCK MARKET
SIGNS OF IMPROVEMENT IN TONE or
 MARKET.
The Reservation with Which this Brighter Sentiment Is Acepted Is Due to the Conflict With Usual
 preeedents.

New York. Feb. s.---There were signs ol Improvements in the tone of the stoeh mar. nai @ s ,ss gday snG s tbs sentiment among the hahitual operators n stocks was less depressed. The reserv nnl cepted is due 10 the conflict with ususai precedents in the present action or the laI- ket as a prelude to an extended reeUShe,s ,t.hay, Prices have gone down steadily wttnoue material rally since the first of the year and with gradual growth of resistance anu
 Usually the progress of a decline occurred at stage where the taking of margins, .Ie ne covering of stop loss orders and the wear. ness of discouraged holders brings out 2 flood of urgent selling and violent nreak in prices, which watchful professional oper~ ators on the short side take advantsse, ,,s v, to buy to cover their short contracts Ihus causing an equally sudden rally: t is after this sequence of events that the perioe of dullness and waiting Is expectea. expected. wm,cn snr 2 new movement in either direction
 There has been no such cuiminating break in the recent market following the steaoy. although at times rapid decline and there has been no violent rally to indicate tne effectuai conclusion of tho speculative cam
 The attitude maintained by the profess sional trading element towards the evidehee of improvement in the market Is oasea on this theory of market movements. Inere have been symptoms of beiated nouioatlon in the market yesterday and today in epe' st0ekS wnfn Ss4 se enE of
 
 remains to be effected.
 It occurred in Great Northern today ana weakened that stock materially Tn spite ot the stronger tendency of the general mar ket. The special depression ot PennsyiVa- mia yesterday was explained by the news this morning of differences over demanal 2 of wage increase from the trainmen east oi the improved tone of the market is the evi- dence of the revival of investment demands. . This especially conspicuous In the ooyins outright of stocks in small parcels TOT tne investment field The matter was brougni ta attention by the action of the stock ex- change authorities in ordering the sesump- tion of the printing Of transactions m ood lots on the tape This practice was aoan- doned at the time of furious speculative act- a.. ivity when it was physical imposslnlsy to record all the transactions Its resunp- the diminished volume of the market ous more significance Is attached to tnS tscs tcs that the number Of purchases or srnan s Iols has become so considerable that tneir aeslre to follow an official record Of their purs cbases has influenced the stock excnahgs authorities to comply. ..,,-
 Foreign opinion towards American secu. tties is being extensively canvassea ana enough of a favorable tenor IS enciteo ,s ss ro demand for American securities to foIlow inc present acceptance for considerable Por- tIons of recent railroad note issues.
 The dulIness of the trading was party que ta inc large list of abSentees que 10 the storm interrupting traffic. ,.,..
 Isonds were steady. Total sales par value si T6s o0o Government bonds were steaoy'
 FEW YORK CLOsINk. STOCK LIST.