The Montgomery advertiser., 1908-10-21
THE STOCK MARKET

New York. Oct. 2o--Speculative at tention again reverted today to the group of high priced divided paying railroad stocks, which has been the enective leader of the mar.et during most or the summer.
 There was at the same time, re- newal of various rumors of intended projects involving these properties in one way or another. The Intentions of MT. Hartman and of Mir. Hill towards l. e railroad system with which their names are associated form field for wlde reaching conjectures whenever this subject G. -.les up for discussion. Today's rumors did not differ mater lally from those that have done duty before in connection with the rising prices of the stocks, tO be relegated to the background or to meet with denial when the price movement comes to stop. The one most Leard today was ~that pointing to an intended ex-divi- dend disbursement on Northern Pacific. It was urged in favor of the view that the amount was to be 10 per cent, that the difference between the present Northern Pacific stock and certificates for the new stock were kept at about ten points.
 It might be asked why the new stock should rise on he prospect of a di- vidend disbursement. in which 1t is not 10 share, but this did not change the convictions of the traders as to the sig nificance of the point difference be tween the old stock and the new stock certificates. any more than did the pub licIr expressed disparity Of James ]. Hill some weeks since of the warrant for the representatives of Gn ex-divi- dend. The similar disparity between the stock and the new stock warrants in the case of St. Paul with no talk heard Of Gn e::-dividend, was also passed over.
 In the case of the Hartman group, there was heard revival of many re- ports which were bluntly discredited by E. H. Hartman on his return from his summer vacation Nothing official ly, however, was procurable.
 The foreign political situation was called better. but the effect of this on foreign markets was very moderate, trading in London. Paris and Berlin be- inE called dull and restricted. London was more affected by the persistent continual demand for gold than by the subsistence of the war news.
 The London exchange rate at Paris. however, recovered a full centime from yesterdays unusually low point. This had an effect on the chances of gold gong rom New York to Paris on the triangular operation although the for eiRn exchange market her showed an early tendency to advance. Apparently some relief was felt over the diminish ed chance of a gold outgo this week.
 good effect was produced by the statement of President McCrea. of the Pennsylvania Railroad, that his com pany would soon place orders for rail and equipment on about the usual scale. The price of copper hardened at the local metal exchange, and trade reports which furnished demand for the metal were favorable.
 Ohlon racine sold at 16S 7.S, which was the highest price touched pre- viously this year. on September g, but | With the l-2 per cent quarterly di- l yidend not then deducted as 1t was on | september 14. The strong tone of the | harket was maintained to the closing |
 Bonds were firm: total sales naS value $4,604, 900, p@'
 United States bonds were unchanged
 CLOSING STOCK LIST.