The Montgomery advertiser., 1908-06-01
.. the prsyloa. .pscul.,ly. buyer. had

as the prsyious speculative buyers had expected.
 Some of the weeks events were un- toward also and helped to hamper the sffortssto realize. The definite reae- tionary tendency of the market stimu- lated the exertfons of the bear party and their attacks on values were an important factor in forcing prices downward. while their occasional pur- chases to cover shorts and take profits served as cheeks to the fall from time to time
 The declining tendency of prices or seeurities had the effect, as 1t unfan- ingiy does. of tincturing the views m the financial, district over the prospect of affatrs and gave rise to some sur , nlises of fresh coming reaction beyonu the precincts of Wall Street itself, m spite of the evidence, of present better Ifaent and revivai.t'. f.
 The iron market was a conspicuous instarice of the show of revival Of ac- tive demand and the large tonnage booked in that Industry was accepted as a most important evidence or re- turning confidence in pushing indus trial operations.
 The organs of trade showed caution in the interpretation of this movement, pointing out it's probably speculative element and In the absence of actual consumptive requirements at present which this buying might be designed 10
 seii. The demand for finished pro- ducts in that trade was not corres- pondingly expanded. The supplies or iron thus taken of the market was effective In restoring prices and the Improved health of the market on this account was a concrete accomplish ment The; signficanco of this demand was demonstration of returning con hdence also was recognized.
 Reports from mercantile sources as well retected some Improvement in de- mand, alth hough advices in this neld show conditions mixed. There was an appreciaBle movement. of textile goods as result of the price reductions which have been enforced.
 The influence from the side of the crops was unfavorable. Technical con- ditions In the cereal markets aided in this result, the operation of corner in both corn and wheat magnifying the prlcej movement in these commodities and giving moresforee to reports early in the week forged the foundation for some of these reports and the govern ment weather reports confirmed the ap- prehension of some ground for anxiety. Auth horities in the grain trades, how ever, allowed less force to these ap- prehensions and seemed to be reflected in the grain speculation itself and maintained their confidence in the crop prospect
 In the financial situation proper there came into view again the mixed conditions due to the cheapening of money supplies and the improved faci1- ities for borrowers and the obstacles of impaired credit to the desire of some of the borrowers.
 The announcement that the Chicago Burlington and Quincy directors had authorized a new bond issue of the un- precedented volume of $500, 900. 900 and that s16,000, ,0oQ of these bonds had been sold on favorable terms, came in one day without any previous intimations of such a transaction. The inference was strong of an abundance of capital forthcoming for high grade. well SC. cured investment On the other hand. terms of sale oi some of the note issues of enterprises of lower credit and the comparative Iightness of the demand for such issues indicated a line of Limitations for the relief which the abundant money sup plies might afford -- .s
 The causes of the continued inflow of money into banking reserves and the Impaired credit of iichoate corporation enterprises find their same source in tho contraction and depression which were the after effects of the financial crisis The indications of the latter part of the week that, there remained some wreckage do be cleared away from the financial fabric in the adjust ment of these Balancing forces to make way for it's. free resumption of health ful functions was not relished in the financial district.
 The action of the stock market al the close of the week, however, seemed to demonstrate that the shock of the been absorbed. t.