The Montgomery advertiser., 1908-02-11
THE STOCK MARKET


 New York. Feb. ie.-The activity in stocks which revived toward the end of last week. was notably extended today in was made in the formerly prevailing level Of prices in ehe course of the days opera
 Stocks were indnstriously pressed for sale from all sides and as the demand was quite small there was rapid decline in covering operations of the professional bears. There was no striking new item of information account for the apprehensive but there was a pronounced growth of that spirit clearly manifest. This was due to a some tIms. whS,e tSs influence on prices was aggravated by the sudden abandonment of position on the long side of the mar aisiion r'sis element. @ rRat element has been hopeful that the episode of last fall in the country's finances vas due to cause less .,s of the banking position and it's effect on general trade and business was about to canseiessness os of of the he fears prompted while there was in effect a universal run on the banks of the country.
 for this quick revival of industry, when the money situation has become normal shr,nkase % in raiiroad traffic. reduction of factory forces and general lethargy in de- mand for products. The resulting discour- some of the former hopeful speculators to the other extreme where they profess to see only gloom aud prospects of an inds. s,s e change in positions is quite characteristic of a large class of speculative operators. Today they went far into the future as the crop situation to predict possibilities of harmful events which may have to pc faced.
 shaping was . continued theme of discus sion about the stock exchange, and with pIaysd s0r in the weakness. the selling being prompted not so much by development in this country as important failure in the British shipbuild-
 The Impression of hostile influences on the side of politics. was heightened by the official recommendations for greater rigor in the collection Of the stock transfer ana franchise taxes In New York State. Declin- ing railroad earnings brought into question full dividend disbursements. The shrink age in profits also adds to the importance many corporations for settlement. The Journal of Commerce presents an exhaust tween now and July i, which shows refund ing to be provided for nearly S0,000,OOO of short time notess for upwards of $T20O0,OVO of installments payable on accruing stock subscriptions. This is exclusive of the s5O.Oo0.o00 of New York City bonds to De present a total of s2so. GOO, 900. Meantime. Corporations are stiii driven to short time note issues Tor Ifnanclai purposes, inuicasius the investment demand from capital still insufficient to provide for more permanent forms of financing, The Friday sale or New York City bonds is look to as an i'm portant index of conditions in this field'
 pronounced success for issue at a iiD- eraI premium would be greatly reassuring, btu the recent decline in the older New York bonds with the approach Of the saie has affected confidence in the outcome. The decline in the older city bonds was arrang- ed today, in spite of the general weakness. The principal sufferers in the days losses were stocks which have been favortte me- diums for a previous speculation for rise. Some of the days declines outside of there will be found moderate.
 Bonds were weak. Total sales par value S2 0ee 0OO United States bonds, 2s regis tered advanced M per cent on call.
 CLOSING STOCK LIST.