The Montgomery advertiser., 1908-10-07
THE STOCK MARKET

New York, Oct 6--whether on ac- count of the Balkan war cloud or for some other reason there was much nervousness manifest in today's stock market. Fitful and irregular fiuct. nations of prices followed each other all day.
 prevailing depression of foreign mar kets was made at the opening when heavy buying orders forced prices up-r wards with some violence. The aggres- sive operations in Union Paeinc Ted to a supposition that the leadership Of the market was being reasserted by the forces long supposed to be In con trol. Buying to cover the short interest which sold freely in the hnal break yesterday was an element in the spurt. The news arriving from abroad by that time was also of reassurtng character and the report of the Turkish Sultans intention to appeal to con ference of the powers rather than 10 declare war against Bulgaria was re- garded as offering a means of peacerul solution of the complication.
 The alignment of the powers on the new situation presented is watched with manifest anxiety and all indica- tions that serve to define their attitude are welcomed in financial markets. As much significance was attached to the action of the foreign exchanges and the grain marke.s as to that or the stock market as the influence of other forces was manifest in the stock mar kct.
 Pacific Railway directors. for instance. without declaring that large extra cash dividend confidently predicted yester- day. proved disconcerting to consider able speculative element which has been operating conhdentially on the strength of these predictions. North ern Pacific weakened materially after the adjournment of the directors meet ing and carried the list with it to lev ell below last night This was in spite of the favorable showing made by the outline of the annual report. in which the depression of the past fiscal year was seen to have made but moderate impression. The failure of the North ern Pacific rumors to come true cast suspicion on a number of other rumors, speculation and awakened a fear that they had been prompted simply by speculative manipulation. The af. ternoon weakness was traceable in part an important bond house having con- nections both in New York and Boston and to the knowledge of the measures which had to be taken to conserve the large resources involved. The decided strength developed by the foreign ex- change market and rather an impres- sive effect as implying an effective for eign demand for withdrawal of funds from New York. The demand was asso- ciated with the war news and was tho occasion of some misgivings as to the accuracy of the more superficial indi- cations.
 The wheat market also strengthened in the latter part of the day from the more serious consideration of the war prospects abroad. From this interim of weakness the market was lifted again by the bouyant advance in Rock Island preferred, which rose to fifty CD transactions In very large individual blocks. The market ended strong un- der the influence of the animated deal. ings in Rock Island preferred.
 Bonds were irregular; total sales par value, $S,920,000. United States bonds were unchanged on call.
 CLOSING STOCK HIST.