The Montgomery advertiser., 1908-12-02
THE STOCK MARKET

New York. Dec. 1s-Professional op- the days market Their transactions ed speciaities. for the most part. Mar ket pools making their influence felt in more than one case in moving prices prices much at nas VIII Tne ct course d,s not ot receive much attention in the super fciaI explanations offered of these movements. In the less observed some reflection of views supposed to be held by large holders of securities on some of the larger aspects of af- s price of uSifed statss tssS steel @ shares was followed today hy further free of ferings of that stock. Dealings in it wieldly a market medium as this SC. curity is by reason of the huge bulk of Its capital. A single transaction or 10000 shares of steel was made on the taken by one purchaser, although sev- eral sellers contributed to the trade. The selling of this stock Is regarded least. by the growing probability of more radical action on the tariff than has been the expectation in financial 9stds 9natrterss; s, The movements m n oI Uniteo fct on speculative sentiment towards the whole market that 1t Is diffiGult to overcome 1t by contrary movements
  of the day was the definite arrange- ment by International banking houses to ship gold to Paris on Thursday. An other rise in the. foreign exchange to- day wiped out the margin separating the price from the point of~profit on gold shipments. It was denied that while in transit by the Bank of France figured in the transaction. Bankers estimate that the movement may run to sio,0oo,0o0 or s12.Ooo,0 The in. France for gold in face of an unpre- cedented volume of holdings arouse no little wonder amongst bankers. It is believed that uninterrupted selling of American securities by foreigners is the dominating cause of the movement.
 The call loan rate was affected to- s%y asho9Se oSperaon. H ssh toSs Sssr;;s sSS from the banks on account of a re- turn of government deposits called for last week by the secretary. Yester- OO0,OOO of American Telephone bonds coming issue of .$2O.ooo. .060 United bids are to be submitted. for. the ssO.- 100000 Panama Canal bonds. Some impression was made by the reports of the PennsyIVsna RairoadP Psd snd its Rs'wssn Ioco1 motive engineers. especially as a state- ment put out yesterday indicated a mSgG of preparation on the part of the the expiration of the present wage agreement next April. The irregular liquidation which has been in prog ress for several days past probably was prompted in varying degree by all of these motives. It proceeded to an extent that brought relief during the course of today's dealings and opened the way for a considerable recovery. The cessation of the pressure on Unit | ed States Steel and on some other prominent stocks was of more infIu- ence in bringing this about than the more sensational advances in a group l of specialties. Rock Island preferred was conspicuous in this class, its vola- tile rise being unexplained by any news bearing on the property. The 1-2 for cali loans touched today has not been equalled since the second week in September. when the sharp break in the price of stocks caused a | furry. In rates. The market closed in considerable unsettfement.
 Bonds were irregular, total sales par value. x7,722,000. United States bonds were unchanged on call.
 CLOSING STOCK LIsE.