The Montgomery advertiser., 1908-08-07
I'll STOCK MARKT

New York. Apg. s.--Ths grain markets weakened today and the stock market rose again. Yesterdays damage reports were so portentous and baced by violent rise in grain prices that the leaders of the stock speculation were fairly intimidated At this critical period of the crops sensational reports for speculative purposes are looked for and guarded against as far as possi- ble. Their effect was resisted fairly well even yesterday The measure of the relief felt oyer today's better news was un mis- takably shown, however. by the renewed activity and strength e the stock market tone. It is admitted , many quarters of the present participation In stock opera tions that q long look ahead is being taken and nearer possibilities of unfavorable de- tlon that they must prove but temporary The main tendency toward betterment Is counted on in spite of occasional setbacks. hut q curtaiiment in the crop yields such as would radically reduce the years produc- ton of wealth from that source is not counted factor which could be ignored.
 There was no disguise ct tho satisfaction therefore with which today's news was re- esived of abundant rains an the Mississippi valley. where the corn crop k reported tr be most in need of moisture. The Sat isfaction was the greater as it was coupled with opinions much relied upon In the trade that drought had not yet done serious damage and that timely rains might make the yield in some states a bumper crop. The practical completion of the winter wheat harvest was reported and the yield or & ex- grain owing to the profitable prices now ruling sprinG wheat contipued the subject of discussion as to the probable detsri9ra, s 9Ilv government reports on the crop inclinins to some five points decline. If the more extreme estimates of damage speculative exaggeration is allowed for. Bad prospects for wheat crops abroad also entered into the course of the price movement The market was not without considerable IT, regularity from the reports of crop damage. of yesterdays crop scare.
 The advance gathered force unevenly and l. r. HAa h. nadian Pacific was hurt by the extensive strike of its employees. The sympathetic effect on subsidiary companies was aggra- vated by the serious illness of the executive head of some of these companies. London offered no assistance to advance stocks: the weak return of the Bank of Engiano Bank of France. however. made very strong return. thus promising cessation oi its drain on the London gold supply. s Ine market is allowed to be still small and the bulk of the buying Is attributed 70 the same anipras,vs % n s nneorsrsa m sor,s some oi them of long standing. was another import ant influence in the perststen rise in prices The cheerful reports Of the iron and stee trade iournaIs nver the nourss of affairs ir those trades was a helpful influence in fos. terlng the price advance The copper stock. were favorites in the manipulation. Amer cap Smelling rising Violently at the last Reports were circulated of some very large sales of copper lately affected Tha metal Wud6TWe0t bOIHB T9ASttSAA eAAS A<rAe don market for the first time in many days The publication of the argument to De pre- sented against the validity of the commod ItIes clause of the Hepburn law on behalf oi tse anthraeIts carriers pointed to one caus' of the strength in the coaleras notably Eead was well dixested and was followed by recovery to pear the best.
 Bonds were firn. Total sales par valu' | sa ss16O United States bonds were un changed on call.
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 eKnaTNfs aT0cw HIST