The Montgomery advertiser., 1908-10-28
THE STOCK MARKET


 New York. Oct. 27--The occur rences of the etock exchang~ today of fer little material for chronicle. The characteristic of the market was its great firmness in spite of its Intense dullness.
 The rate of activity declined at times during the sessio to the oint of idle ness. The first hour supplied most of the activity ard most of the move ment. Some of the buying at tlat time came froL. professional traders who had sold stocks short on the assUmpt- ion that the political demonstrations last night would weaken stocks today. The assumption was based on the anal induced some subsequent liquidation of securities. Thert was such ceiling to- day and the little demand was sufti- ctent to send rices upwards.
 There was TO sign of any large ac- Humulation of stocks. but a resolute withholding of offerings for sale was very apparent. The actioa of the mar ket sugget a determination of the speculative leadership to stand by and There is diversity of opinion over this question of what is to follow the elect ioAs quite Gpart from what their out come may be.
 It Is not apparent how Ear present to dispose f :heir holdings ct the cur rent level >, nrtces, as there Is | ot suf- ncient outside demand to take over these holdings offe. d. The future of the sufilciency of the demand stimu- lated after the elections to nbsorp pront taking sales. No such safes were attempted today and the result in prices bring the market to the highest point 1t has touched since the reaction early in September. This reaction followed the Maine election and the denial by F: IT zN many rumors which had been kept in circulation with regard to the proper ties with wh. h they are connected with marked effect in carrying prices to the highest le eI touched up to that time. since | |" financial crisis of last fall Prices touched today did not in all cases represe. a restoration to the early September evel. In some prom inent stocks. however, that level was
 Union Pacific, Atchison, Pennsyiva- mia, United ates Steel, American Car, Colorado Fuel and Sloss- Sheffield are among the stocks which have risen to snsI the highest prices of the year on the amongst the industrial stocks associat- ed with the --on and steel trades is notable. Amongst he railroads Penn sylvania is always effected by sympa- thy with this group of industrials.
 Hopeful views were held of the show ing to be made by the quarterly report of the United States Steel Corpora tion, but as 1t was known that this would not be published until after tho close of the stock change, the effect of the report was not looked for in the stock market until tomorrow. Some of the duliness was due 70 this fact
 Immediate Lov~ of the day had lit- tie effect upon the market. Breaking of the dro"th n the winter wheat | regions, relieved some anxiety for fa- vorable conditions to seek seed that crop.
 Wheat prices advanced on reports of damage to the Argentine crop. Tho selling to take profifs at the end of inc day, although small, was sufficient to reduce the narrow gains to fractions in few specially strong stocks. BonGs were fl m. Total sales par vaIue' So.SS4,CVe. United States bonds were unchanged on call.
 CLOSING STOCK LIST